Royal Bank of Canada Raises Thomson Reuters (NYSE:TRI) Price Target to $171.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target upped by Royal Bank of Canada from $168.00 to $171.00 in a research note published on Wednesday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the business services provider’s stock.

Several other research analysts also recently weighed in on TRI. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $173.73.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock opened at $164.84 on Wednesday. The company has a market cap of $74.12 billion, a P/E ratio of 31.40, a PEG ratio of 5.61 and a beta of 0.73. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $168.75 and a two-hundred day moving average price of $165.67. Thomson Reuters has a 1-year low of $117.46 and a 1-year high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. As a group, analysts anticipate that Thomson Reuters will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $0.146 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.35%. Thomson Reuters’s dividend payout ratio is currently 41.14%.

Institutional Investors Weigh In On Thomson Reuters

Several large investors have recently made changes to their positions in TRI. Rothschild Investment LLC bought a new stake in Thomson Reuters in the second quarter worth about $25,000. EverSource Wealth Advisors LLC grew its holdings in Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares during the period. Asset Dedication LLC raised its stake in shares of Thomson Reuters by 125.0% in the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after buying an additional 130 shares during the period. Clean Yield Group purchased a new position in shares of Thomson Reuters during the 3rd quarter valued at $42,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Thomson Reuters by 104.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after buying an additional 167 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

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.