Thomson Reuters (NYSE:TRI) Given New $187.00 Price Target at Scotiabank

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective raised by research analysts at Scotiabank from $182.00 to $187.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price target indicates a potential upside of 12.95% from the stock’s previous close.

Several other research firms have also recently weighed in on TRI. JPMorgan Chase & Co. raised their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Thomson Reuters has an average rating of “Hold” and an average target price of $176.33.

Thomson Reuters Price Performance

NYSE:TRI traded down $5.58 during trading hours on Wednesday, hitting $165.56. 199,681 shares of the company’s stock traded hands, compared to its average volume of 355,042. The firm has a market cap of $74.48 billion, a P/E ratio of 31.85, a P/E/G ratio of 5.55 and a beta of 0.73. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $168.79 and its two-hundred day simple moving average is $166.61. Thomson Reuters has a 52 week low of $127.68 and a 52 week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. Thomson Reuters’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. On average, research analysts anticipate that Thomson Reuters will post 3.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Thomson Reuters

Several institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL raised its stake in shares of Thomson Reuters by 3.0% during the second quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock valued at $385,000 after acquiring an additional 66 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Thomson Reuters by 1.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock valued at $1,252,000 after purchasing an additional 74 shares during the period. Sivia Capital Partners LLC increased its holdings in Thomson Reuters by 4.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock valued at $277,000 after purchasing an additional 75 shares during the period. Avitas Wealth Management LLC raised its position in Thomson Reuters by 0.4% during the 2nd quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock valued at $3,508,000 after purchasing an additional 79 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares during the period. Hedge funds and other 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.