Thomson Reuters (NYSE:TRI) PT Raised to $156.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price increased by equities research analysts at CIBC from $152.00 to $156.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. CIBC’s price target would indicate a potential downside of 5.31% from the stock’s previous close.

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

Thomson Reuters Stock Performance

Shares of NYSE TRI traded up $1.78 during trading hours on Friday, reaching $164.74. 615,548 shares of the stock were exchanged, compared to its average volume of 325,121. 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. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. Thomson Reuters has a 52 week low of $117.46 and a 52 week high of $166.11. The stock’s fifty day simple moving average is $155.25 and its 200 day simple moving average is $146.11.

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 analyst estimates of $1.86 billion. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. Sell-side analysts predict that Thomson Reuters will post 3.58 EPS for the current year.

Hedge Funds Weigh In On Thomson Reuters

Institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new position in Thomson Reuters in the 1st quarter valued at about $431,000. FORA Capital LLC bought a new position in Thomson Reuters in the 1st quarter valued at about $610,000. Tobam lifted its position in Thomson Reuters by 4.3% in the 1st quarter. Tobam now owns 43,686 shares of the business services provider’s stock valued at $6,799,000 after acquiring an additional 1,819 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in Thomson Reuters in the 1st quarter valued at about $1,557,000. Finally, Janney Montgomery Scott LLC lifted its position in Thomson Reuters by 5.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the business services provider’s stock valued at $991,000 after acquiring an additional 331 shares in the last quarter. Institutional investors 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.