Thomson Reuters (NYSE:TRI) Given New $124.00 Price Target at Royal Bank of Canada

Thomson Reuters (NYSE:TRIGet Rating) (TSE:TRI) had its target price lifted by Royal Bank of Canada from $123.00 to $124.00 in a report released on Friday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the business services provider’s stock.

A number of other research firms also recently commented on TRI. Barclays reduced their target price on Thomson Reuters from $125.00 to $115.00 and set an equal weight rating on the stock in a research report on Friday, July 1st. CIBC raised Thomson Reuters from a neutral rating to a sector outperform rating in a research note on Tuesday, June 14th. Canaccord Genuity Group lifted their price objective on Thomson Reuters from $115.00 to $122.00 and gave the company a buy rating in a research note on Friday. Finally, StockNews.com raised Thomson Reuters from a sell rating to a hold rating in a research note on Tuesday, May 17th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters has a consensus rating of Moderate Buy and a consensus target price of $133.00.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock opened at $114.05 on Friday. Thomson Reuters has a one year low of $91.55 and a one year high of $123.60. The company has a market cap of $55.32 billion, a price-to-earnings ratio of 117.58, a PEG ratio of 3.47 and a beta of 0.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day moving average price is $104.08 and its 200 day moving average price is $103.38.

Thomson Reuters (NYSE:TRIGet Rating) (TSE:TRI) last posted its earnings results on Tuesday, May 3rd. The business services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Thomson Reuters had a return on equity of 7.37% and a net margin of 7.31%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts predict that Thomson Reuters will post 2.45 EPS for the current year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 18th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Wednesday, August 17th. Thomson Reuters’s payout ratio is currently 183.51%.

Institutional Trading of Thomson Reuters

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in shares of Thomson Reuters by 67.3% in the 1st quarter. Mackenzie Financial Corp now owns 7,105,567 shares of the business services provider’s stock valued at $772,664,000 after purchasing an additional 2,859,546 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Thomson Reuters by 5.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 6,148,867 shares of the business services provider’s stock valued at $669,181,000 after acquiring an additional 340,895 shares during the last quarter. Vanguard Group Inc. raised its stake in Thomson Reuters by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 5,314,854 shares of the business services provider’s stock valued at $578,521,000 after acquiring an additional 118,225 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Thomson Reuters by 33.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,838,820 shares of the business services provider’s stock valued at $339,742,000 after acquiring an additional 706,875 shares during the last quarter. Finally, Fiera Capital Corp raised its stake in Thomson Reuters by 5.9% during the 1st quarter. Fiera Capital Corp now owns 2,804,912 shares of the business services provider’s stock valued at $305,008,000 after acquiring an additional 155,405 shares during the last quarter. 21.17% of the stock is owned by hedge funds and other institutional investors.

About Thomson Reuters

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Thomson Reuters Corporation provides business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.

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