Thomson Reuters (NYSE:TRI) Price Target Raised to $156.00 at Royal Bank of Canada

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target raised by investment analysts at Royal Bank of Canada from $153.00 to $156.00 in a report released on Tuesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 2.43% from the company’s current price.

Several other analysts have also commented on the stock. TD Securities lifted their price target on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. National Bank Financial raised shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, April 23rd. Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $150.00 to $180.00 in a research report on Thursday, March 14th. CIBC boosted their target price on Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Finally, Scotiabank boosted their target price on Thomson Reuters from $142.00 to $159.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Thomson Reuters presently has an average rating of “Hold” and an average price target of $157.67.

Thomson Reuters Trading Down 0.9 %

Shares of TRI stock traded down $1.31 during trading on Tuesday, hitting $152.30. 98,799 shares of the stock traded hands, compared to its average volume of 301,901. The firm has a market capitalization of $68.75 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 4.02 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s fifty day moving average price is $155.39 and its 200-day moving average price is $145.78. Thomson Reuters has a 52-week low of $117.46 and a 52-week high of $161.57.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.82 billion. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. As a group, research analysts forecast that Thomson Reuters will post 3.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Thomson Reuters

A number of large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its stake in shares of Thomson Reuters by 17.3% in the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock valued at $755,514,000 after acquiring an additional 919,603 shares during the period. Vanguard Group Inc. grew its holdings in Thomson Reuters by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,698,178 shares of the business services provider’s stock worth $833,188,000 after acquiring an additional 52,138 shares in the last quarter. FMR LLC grew its holdings in Thomson Reuters by 26.3% during the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after acquiring an additional 1,179,155 shares in the last quarter. FIL Ltd grew its holdings in Thomson Reuters by 9.8% during the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after acquiring an additional 445,444 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Thomson Reuters by 6.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock valued at $500,872,000 after buying an additional 240,148 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of 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.