Thomson Reuters (NYSE:TRI) Price Target Raised to $174.00 at CIBC

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target boosted by CIBC from $165.00 to $174.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

A number of other equities research analysts have also recently weighed in on the company. Scotiabank lifted their price objective on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday. The Goldman Sachs Group increased their price target on shares of Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price objective on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, StockNews.com upgraded shares of Thomson Reuters from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $182.09.

Thomson Reuters Stock Down 0.2 %

Shares of NYSE:TRI opened at $176.56 on Friday. The company has a market capitalization of $79.45 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 5.59 and a beta of 0.73. Thomson Reuters has a 12-month low of $149.14 and a 12-month high of $178.35. The business has a 50-day moving average price of $163.98 and a 200 day moving average price of $165.41. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.78%. Sell-side analysts expect that Thomson Reuters will post 3.96 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Thursday, February 20th will be paid a dividend of $0.595 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s payout ratio is presently 44.17%.

Institutional Trading of Thomson Reuters

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC boosted its position in shares of Thomson Reuters by 6.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,773 shares of the business services provider’s stock worth $445,000 after acquiring an additional 168 shares in the last quarter. HighTower Advisors LLC lifted its stake in Thomson Reuters by 0.9% during the fourth quarter. HighTower Advisors LLC now owns 11,349 shares of the business services provider’s stock worth $1,821,000 after purchasing an additional 102 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Thomson Reuters in the 4th quarter valued at $874,000. AGF Management Ltd. lifted its position in Thomson Reuters by 60.7% in the fourth quarter. AGF Management Ltd. now owns 462,241 shares of the business services provider’s stock valued at $74,698,000 after acquiring an additional 174,546 shares during the last quarter. Finally, Vista Investment Partners II LLC acquired a new position in Thomson Reuters in the fourth quarter valued at $2,640,000. 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.