Thomson Reuters (NYSE:TRI) Price Target Raised to $190.00 at UBS Group

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective upped by investment analysts at UBS Group from $177.00 to $190.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. UBS Group’s price objective would suggest a potential upside of 15.33% from the company’s current price.

Other analysts have also recently issued research reports about the stock. CIBC raised their price objective on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research report on Friday. Canaccord Genuity Group raised their price objective on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research report on Friday. Scotiabank raised their price objective on shares of Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a research report on Friday. Royal Bank of Canada raised their price objective on shares of Thomson Reuters from $153.00 to $156.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, Canaccord Genuity Group raised their price objective on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $164.31.

Thomson Reuters Price Performance

NYSE:TRI traded up $1.78 during trading hours on Friday, hitting $164.74. The stock had a trading volume of 615,548 shares, compared to its average volume of 325,121. The company has a 50 day simple moving average of $155.25 and a two-hundred day simple moving average of $146.11. 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 has a one year low of $117.46 and a one year high of $166.11. The firm has a market capitalization of $74.35 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 3.94 and a beta of 0.65.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.94 by $0.17. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm earned $0.85 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. 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

Several hedge funds and other institutional investors have recently modified their holdings of TRI. Commonwealth Equity Services LLC raised its stake in shares of Thomson Reuters by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 7,331 shares of the business services provider’s stock valued at $897,000 after acquiring an additional 93 shares during the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of Thomson Reuters during the third quarter valued at about $28,000. Strategic Investment Advisors MI raised its stake in shares of Thomson Reuters by 13.0% during the third quarter. Strategic Investment Advisors MI now owns 2,258 shares of the business services provider’s stock valued at $276,000 after acquiring an additional 260 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Thomson Reuters by 5.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,224 shares of the business services provider’s stock valued at $3,837,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Thomson Reuters by 17.3% during the third 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 last quarter. 17.31% of the stock is owned by 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.