Royal Bank of Canada Boosts Thomson Reuters (NYSE:TRI) Price Target to $173.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price hoisted by Royal Bank of Canada from $171.00 to $173.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 2.70% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. increased their target price on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $176.33.

Thomson Reuters Stock Up 1.3 %

Shares of NYSE TRI opened at $168.45 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.94. Thomson Reuters has a 1 year low of $127.68 and a 1 year high of $176.03. The stock’s 50-day simple moving average is $168.71 and its 200-day simple moving average is $166.61. The firm has a market cap of $75.78 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 5.59 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share. As a group, equities analysts anticipate that Thomson Reuters will post 3.71 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. Vanguard Group Inc. boosted its position in shares of Thomson Reuters by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock worth $894,442,000 after buying an additional 41,680 shares during the period. TD Asset Management Inc raised its holdings in Thomson Reuters by 0.7% during the second 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 in the last quarter. Fiera Capital Corp boosted its stake in Thomson Reuters by 1.0% during the 3rd quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock valued at $458,559,000 after purchasing an additional 27,714 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Thomson Reuters by 9.4% during the second quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider’s stock valued at $245,893,000 after buying an additional 125,167 shares in the last quarter. Finally, Cibc World Market Inc. grew its position in Thomson Reuters by 26.3% in the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after buying an additional 276,206 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

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.