Thomson Reuters (NYSE:TRI) Price Target Increased to $122.00 by Analysts at Canaccord Genuity Group

Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) had its price target boosted by Canaccord Genuity Group from $115.00 to $122.00 in a research note released on Friday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the business services provider’s stock.

A number of other research firms have also weighed in on TRI. CIBC raised shares of Thomson Reuters from a neutral rating to a sector outperform rating in a research report on Tuesday, June 14th. Barclays decreased their price objective on shares of Thomson Reuters from $125.00 to $115.00 and set an equal weight rating for the company in a report on Friday, July 1st. Finally, StockNews.com upgraded shares of Thomson Reuters from a sell rating to a hold rating in a report on Tuesday, May 17th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $133.00.

Thomson Reuters Stock Down 1.3 %

TRI opened at $114.05 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50-day moving average is $104.08 and its 200 day moving average is $103.38. Thomson Reuters has a fifty-two week low of $91.55 and a fifty-two week high of $123.60. The firm has a market capitalization of $55.32 billion, a P/E ratio of 117.58, a PEG ratio of 3.47 and a beta of 0.54.

Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) last released its quarterly earnings results on Tuesday, May 3rd. The business services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Thomson Reuters had a net margin of 7.31% and a return on equity of 7.37%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the firm earned $0.58 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. Research analysts expect that Thomson Reuters will post 2.45 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 18th will be paid a $0.445 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $1.78 annualized dividend and a dividend yield of 1.56%. Thomson Reuters’s payout ratio is 183.51%.

Hedge Funds Weigh In On Thomson Reuters

Large investors have recently modified their holdings of the business. Mackenzie Financial Corp boosted its position in shares of Thomson Reuters by 67.3% in the first quarter. Mackenzie Financial Corp now owns 7,105,567 shares of the business services provider’s stock valued at $772,664,000 after acquiring an additional 2,859,546 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Thomson Reuters by 5.9% in the first quarter. The Manufacturers Life Insurance Company now owns 6,148,867 shares of the business services provider’s stock valued at $669,181,000 after acquiring an additional 340,895 shares during the period. Vanguard Group Inc. boosted its position in shares of Thomson Reuters by 2.3% in the first quarter. Vanguard Group Inc. now owns 5,314,854 shares of the business services provider’s stock valued at $578,521,000 after acquiring an additional 118,225 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Thomson Reuters by 33.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,838,820 shares of the business services provider’s stock valued at $339,742,000 after acquiring an additional 706,875 shares during the period. Finally, Fiera Capital Corp boosted its position in shares of Thomson Reuters by 5.9% in the first quarter. Fiera Capital Corp now owns 2,804,912 shares of the business services provider’s stock valued at $305,008,000 after acquiring an additional 155,405 shares during the period. Hedge funds and other institutional investors own 21.17% of the company’s stock.

About Thomson Reuters

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Thomson Reuters Corporation provides 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.