Thomson Reuters (NYSE:TRI) PT Raised to $98.00 at Royal Bank of Canada

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective raised by equities research analysts at Royal Bank of Canada from $92.00 to $98.00 in a research report issued on Monday, The Fly reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 9.96% from the company’s current price.

TRI has been the topic of several other research reports. TD Securities boosted their price objective on shares of Thomson Reuters from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Morgan Stanley initiated coverage on shares of Thomson Reuters in a research report on Tuesday, February 2nd. They set an “equal weight” rating and a $90.00 price target on the stock. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $111.00 to $115.00 in a research report on Friday, January 15th. Canaccord Genuity upped their price target on shares of Thomson Reuters from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Finally, Zacks Investment Research cut shares of Thomson Reuters from a “buy” rating to a “hold” rating in a research report on Saturday, January 16th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Thomson Reuters currently has an average rating of “Buy” and a consensus target price of $91.69.

Shares of NYSE TRI traded up $0.27 during midday trading on Monday, reaching $89.12. 32,517 shares of the company were exchanged, compared to its average volume of 502,630. The stock’s 50-day moving average price is $81.81 and its 200-day moving average price is $80.25. The stock has a market cap of $44.30 billion, a P/E ratio of 23.39, a PEG ratio of 3.15 and a beta of 0.47. Thomson Reuters has a one year low of $52.23 and a one year high of $89.97. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.39.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Monday, February 22nd. The business services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.08. Thomson Reuters had a net margin of 31.66% and a return on equity of 8.89%. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Thomson Reuters’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Thomson Reuters will post 1.78 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRI. Bradley Foster & Sargent Inc. CT bought a new position in Thomson Reuters in the 3rd quarter worth approximately $413,000. Alberta Investment Management Corp boosted its holdings in Thomson Reuters by 36.5% in the 3rd quarter. Alberta Investment Management Corp now owns 769,316 shares of the business services provider’s stock worth $61,200,000 after buying an additional 205,600 shares during the period. M&G Investment Management Ltd. lifted its stake in Thomson Reuters by 3.0% in the 3rd quarter. M&G Investment Management Ltd. now owns 85,302 shares of the business services provider’s stock worth $6,787,000 after purchasing an additional 2,489 shares in the last quarter. KBC Group NV lifted its stake in Thomson Reuters by 35.8% in the 3rd quarter. KBC Group NV now owns 24,907 shares of the business services provider’s stock worth $1,987,000 after purchasing an additional 6,565 shares in the last quarter. Finally, Dorsey Wright & Associates lifted its stake in Thomson Reuters by 2.1% in the 3rd quarter. Dorsey Wright & Associates now owns 37,973 shares of the business services provider’s stock worth $3,030,000 after purchasing an additional 783 shares in the last quarter. 20.49% of the stock is owned by institutional investors.

Thomson Reuters Company Profile

Thomson Reuters Corporation provides news and business information services to professionals in the United States, Other Americas, Europe, the Middle East, Africa, and the Asia- Pacific. It operates through five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print.

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