Thomson Reuters (NYSE:TRI) Price Target Raised to $164.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target upped by JPMorgan Chase & Co. from $163.00 to $164.00 in a report published on Friday, Marketbeat reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group boosted 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, May 3rd. Canaccord Genuity Group boosted 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, May 3rd. 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 report on Tuesday, April 30th. Scotiabank upped their price target on shares of Thomson Reuters from $159.00 to $164.00 and gave the stock a sector perform rating in a report on Friday, May 3rd. Finally, UBS Group upped their price target on shares of Thomson Reuters from $177.00 to $190.00 and gave the stock a buy rating in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $171.82.

Thomson Reuters Price Performance

Thomson Reuters stock traded down $2.27 during mid-day trading on Friday, reaching $155.16. 161,432 shares of the company’s stock traded hands, compared to its average volume of 384,253. The company has a market cap of $69.77 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 5.97 and a beta of 0.72. The stock has a 50 day moving average of $166.92 and a two-hundred day moving average of $160.58. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.40%. Thomson Reuters’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Equities analysts forecast that Thomson Reuters will post 3.71 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $0.146 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.38%. Thomson Reuters’s dividend payout ratio (DPR) is presently 41.14%.

Hedge Funds Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Thomson Reuters by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock worth $894,442,000 after purchasing an additional 41,680 shares during the period. FIL Ltd grew its stake in shares of 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 purchasing an additional 445,444 shares during the period. TD Asset Management Inc grew its stake in shares of Thomson Reuters by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider’s stock worth $686,640,000 after purchasing an additional 26,483 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Thomson Reuters by 0.8% during the 4th quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock worth $260,723,000 after purchasing an additional 13,747 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of Thomson Reuters by 3.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,333,533 shares of the business services provider’s stock worth $207,804,000 after purchasing an additional 50,367 shares during the period. Institutional investors and hedge funds 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.