Thomson Reuters (NYSE:TRI) PT Raised to $156.00 at Canaccord Genuity Group

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target lifted by Canaccord Genuity Group from $149.00 to $156.00 in a report released on Friday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the business services provider’s stock.

A number of other research firms have also recently issued reports on TRI. TD Securities raised their target price on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a hold rating in a research note on Wednesday, March 13th. Barclays upgraded Thomson Reuters from an equal weight rating to an overweight rating and boosted their price objective for the stock from $150.00 to $180.00 in a report on Thursday, March 14th. Scotiabank increased their target price on Thomson Reuters from $142.00 to $159.00 and gave the stock a sector perform rating in a research note on Friday, February 9th. Royal Bank of Canada boosted their price target on Thomson Reuters from $153.00 to $156.00 and gave the company a sector perform rating in a research note on Tuesday, April 30th. Finally, National Bank Financial upgraded Thomson Reuters from an underperform rating to a sector perform rating in a research report on Tuesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $164.31.

Thomson Reuters Trading Up 1.4 %

Shares of NYSE:TRI opened at $167.07 on Friday. The company has a 50-day simple moving average of $155.54 and a 200 day simple moving average of $146.98. The company has a market capitalization of $75.40 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 4.52 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. Thomson Reuters has a 52-week low of $117.46 and a 52-week high of $168.28.

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 the consensus estimate of $0.94 by $0.17. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, May 15th. Thomson Reuters’s payout ratio is 41.14%.

Institutional Inflows and Outflows

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

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.