Thomson Reuters (NYSE:TRI) Price Target Increased to $164.00 by Analysts at Scotiabank

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective increased by Scotiabank from $159.00 to $164.00 in a research report report published on Friday morning, Marketbeat.com reports. The firm currently has a sector perform rating on the business services provider’s stock.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a research report on Tuesday. TD Securities lifted their target price on Thomson Reuters from $210.00 to $225.00 and gave the company a hold rating in a research report on Wednesday, March 13th. Barclays upgraded Thomson Reuters from an equal weight rating to an overweight rating and increased their price objective for the company from $150.00 to $180.00 in a research note on Thursday, March 14th. Canaccord Genuity Group boosted their target price on Thomson Reuters from $149.00 to $156.00 and gave the stock a hold rating in a research note on Friday. Finally, CIBC increased their price target on Thomson Reuters from $152.00 to $156.00 and gave the company a neutral rating in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $164.31.

Thomson Reuters Stock Up 1.1 %

TRI traded up $1.78 on Friday, hitting $164.74. The company had a trading volume of 619,405 shares, compared to its average volume of 362,043. 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 stock has a fifty day simple moving average of $155.25 and a 200-day simple moving average of $146.11. Thomson Reuters has a 52-week low of $117.46 and a 52-week high of $166.11. The firm has a market capitalization of $74.35 billion, a P/E ratio of 31.38, a P/E/G ratio of 4.24 and a beta of 0.65.

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

Thomson Reuters Dividend Announcement

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

Institutional Trading of Thomson Reuters

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trust Co. of Vermont acquired a new position in shares of Thomson Reuters in the 3rd quarter valued at about $27,000. FinTrust Capital Advisors LLC bought a new stake in Thomson Reuters in the third quarter worth approximately $28,000. Pacifica Partners Inc. lifted its stake in shares of 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 buying an additional 149 shares during the last quarter. Operose Advisors LLC acquired a new position in Thomson Reuters during the 3rd quarter valued at $37,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Thomson Reuters in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

About Thomson Reuters

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.