Thomson Reuters (NYSE:TRI) PT Raised to $156.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price hoisted by equities research analysts at Canaccord Genuity Group from $149.00 to $156.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. Canaccord Genuity Group’s price target points to a potential downside of 5.31% from the stock’s previous close.

A number of other brokerages have also issued reports on TRI. Scotiabank upped their price objective on shares of Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a report on Friday. National Bank Financial raised shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 23rd. Canaccord Genuity Group upped their price objective on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a report on Friday. Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $150.00 to $180.00 in a research note on Thursday, March 14th. Finally, Royal Bank of Canada increased their target price on shares of Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 30th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $164.31.

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $164.74 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. Thomson Reuters has a 52 week low of $117.46 and a 52 week high of $166.11. The firm has a 50-day simple moving average of $155.38 and a 200-day simple moving average of $146.37. The stock has a market capitalization of $74.35 billion, a price-to-earnings ratio of 31.38, a price-to-earnings-growth ratio of 4.24 and a beta of 0.65.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.43%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Thomson Reuters’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict that Thomson Reuters will post 3.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC raised its holdings in Thomson Reuters by 3.9% in the first quarter. Signaturefd LLC now owns 7,433 shares of the business services provider’s stock valued at $1,158,000 after acquiring an additional 281 shares in the last quarter. FDx Advisors Inc. raised its holdings in Thomson Reuters by 22.5% in the first quarter. FDx Advisors Inc. now owns 3,757 shares of the business services provider’s stock valued at $585,000 after acquiring an additional 691 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Thomson Reuters in the first quarter valued at approximately $431,000. FORA Capital LLC acquired a new stake in Thomson Reuters in the first quarter valued at approximately $610,000. Finally, Tobam raised its holdings in Thomson Reuters by 4.3% in the first quarter. Tobam now owns 43,686 shares of the business services provider’s stock valued at $6,799,000 after acquiring an additional 1,819 shares in the last quarter. Hedge funds and other institutional investors 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.