Thomson Reuters (NYSE:TRI) Given New $163.00 Price Target at JPMorgan Chase & Co.

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price hoisted by JPMorgan Chase & Co. from $152.00 to $163.00 in a report released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

A number of other equities analysts have also recently weighed in on the company. Barclays raised Thomson Reuters from an equal weight rating to an overweight rating and upped their price target for the stock from $150.00 to $180.00 in a report on Thursday, March 14th. Canaccord Genuity Group upped their price target on Thomson Reuters from $149.00 to $156.00 and gave the stock a hold rating in a report on Friday. Scotiabank upped their price target on Thomson Reuters from $159.00 to $164.00 and gave the stock a sector perform rating in a report on Friday. Royal Bank of Canada upped their price target on Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a report on Tuesday. Finally, TD Securities upped their price target on Thomson Reuters from $210.00 to $225.00 and gave the stock a hold rating in a report on Wednesday, March 13th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Thomson Reuters has a consensus rating of Hold and a consensus target price of $164.31.

Thomson Reuters Stock Performance

Thomson Reuters stock traded up $1.78 during mid-day trading on Friday, reaching $164.74. 619,405 shares of the company traded hands, compared to its average volume of 362,043. The company has a market capitalization of $74.35 billion, a price-to-earnings ratio of 31.38, a price-to-earnings-growth ratio of 4.24 and a beta of 0.65. The firm’s fifty day moving average is $155.25 and its two-hundred day moving average is $146.11. Thomson Reuters has a fifty-two week low of $117.46 and a fifty-two week high of $166.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a return on equity of 15.43% and a net margin of 34.87%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts expect that Thomson Reuters will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.16 annualized dividend and a dividend yield of 1.31%. Thomson Reuters’s dividend payout ratio is presently 41.33%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont purchased a new position in Thomson Reuters in the third quarter worth approximately $27,000. FinTrust Capital Advisors LLC purchased a new position in Thomson Reuters in the third quarter worth approximately $28,000. Pacifica Partners Inc. grew its position in Thomson Reuters by 162.0% in the fourth quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock worth $34,000 after acquiring an additional 149 shares during the period. Operose Advisors LLC purchased a new position in Thomson Reuters in the third quarter worth approximately $37,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Thomson Reuters in the fourth quarter worth approximately $37,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

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.