Thomson Reuters (NASDAQ:TRI) Stock Price Target Raised at RBC Dominion Securities

Thomson Reuters (NASDAQ:TRI) had its target price hoisted by investment analysts at RBC Dominion Securities from $124.00 to $130.00 in a research note issued on Wednesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. RBC Dominion Securities‘s price objective indicates a potential upside of 11.80% from the company’s current price.

TRI has been the topic of several other reports. Canaccord Genuity Group decreased their price objective on Thomson Reuters from $132.50 to $129.50 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Barclays cut their target price on shares of Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, September 8th. Scotia reduced their price target on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings raised shares of Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 15th. Finally, Scotiabank reiterated a “sector outperform” rating and set a $135.00 price objective on shares of Thomson Reuters in a research report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Thomson Reuters has an average rating of “Moderate Buy” and a consensus price target of $127.99.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock traded down $0.14 during trading on Wednesday, reaching $116.28. 743,585 shares of the stock traded hands, compared to its average volume of 2,143,540. Thomson Reuters has a 52-week low of $76.28 and a 52-week high of $160.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. The business has a fifty day simple moving average of $104.04 and a two-hundred day simple moving average of $97.57. The company has a market capitalization of $50.39 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 2.36 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the company earned $0.87 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Sell-side analysts expect that Thomson Reuters will post 4.46 EPS for the current year.

Hedge Funds Weigh In On Thomson Reuters

Institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. raised its holdings in Thomson Reuters by 10.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,697 shares of the company’s stock valued at $1,222,000 after buying an additional 1,223 shares during the period. VestGen Advisors LLC purchased a new position in Thomson Reuters during the third quarter worth $1,439,000. Generali Asset Management SPA SGR boosted its stake in Thomson Reuters by 2.1% during the third quarter. Generali Asset Management SPA SGR now owns 10,990 shares of the company’s stock worth $1,070,000 after buying an additional 223 shares during the period. Livet Wealth LLC purchased a new position in Thomson Reuters during the third quarter worth $265,000. Finally, Park Avenue Securities LLC bought a new position in Thomson Reuters during the third quarter valued at $236,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

About Thomson Reuters

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.