Thomson Reuters (NASDAQ:TRI) Price Target Raised to $130.00

Thomson Reuters (NASDAQ:TRI) had its target price upped by Royal Bank Of Canada from $124.00 to $130.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also recently issued reports on TRI. Weiss Ratings upgraded Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 15th. Scotiabank reissued a “sector outperform” rating and issued a $135.00 target price on shares of Thomson Reuters in a report on Thursday, August 6th. 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 note on Thursday, August 6th. Wells Fargo & Company set a $85.00 price target on shares of Thomson Reuters and gave the company an “equal weight” rating in a report on Tuesday, June 30th. Finally, Morgan Stanley set a $110.00 price objective on shares of Thomson Reuters and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.99.

Thomson Reuters Trading Up 1.6%

Shares of TRI opened at $118.25 on Wednesday. Thomson Reuters has a 52-week low of $76.28 and a 52-week high of $157.63. The business’s fifty day moving average is $104.82 and its 200-day moving average is $97.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $51.24 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 2.24 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping 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 analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. Thomson Reuters’s revenue was up 9.5% on a year-over-year basis. Equities analysts anticipate that Thomson Reuters will post 4.46 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a dividend of $0.6550 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.62 annualized dividend and a dividend yield of 2.2%. Thomson Reuters’s dividend payout ratio (DPR) is 69.68%.

Institutional Investors Weigh In On Thomson Reuters

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in Thomson Reuters in the second quarter valued at about $107,223,000. Bank of America Corp DE acquired a new stake in shares of Thomson Reuters during the second quarter valued at about $104,104,000. The Manufacturers Life Insurance Company bought a new stake in shares of Thomson Reuters during the second quarter worth about $102,215,000. Cibc World Market Inc. bought a new stake in shares of Thomson Reuters during the second quarter worth about $100,711,000. Finally, BlackRock Inc. acquired a new position in shares of Thomson Reuters in the second quarter valued at approximately $91,548,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

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.