CIBC Boosts Thomson Reuters (NYSE:TRI) Price Target to $156.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price upped by CIBC from $152.00 to $156.00 in a report released on Friday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the business services provider’s stock.

Other analysts also recently issued research reports about the stock. Barclays upgraded shares of Thomson Reuters from an equal weight rating to an overweight rating and raised their price objective for the stock from $150.00 to $180.00 in a report on Thursday, March 14th. National Bank Financial raised shares of Thomson Reuters from an underperform rating to a sector perform rating in a report on Tuesday, April 23rd. Scotiabank increased their price objective on Thomson Reuters from $142.00 to $159.00 and gave the company a sector perform rating in a report on Friday, February 9th. TD Securities boosted their target price on Thomson Reuters from $210.00 to $225.00 and gave the company a hold rating in a research note on Wednesday, March 13th. Finally, Royal Bank of Canada increased their price target on 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $164.31.

Thomson Reuters Stock Performance

TRI stock opened at $164.74 on Friday. The business has a 50 day moving average of $155.38 and a 200-day moving average of $146.67. The firm has a market cap of $74.35 billion, a PE ratio of 31.38, a P/E/G ratio of 4.29 and a beta of 0.65. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $166.11. 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 (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. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Thomson Reuters had a return on equity of 15.43% and a net margin of 34.87%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, sell-side analysts expect that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, May 15th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.31%. Thomson Reuters’s dividend payout ratio (DPR) is currently 41.33%.

Institutional Investors Weigh In On Thomson Reuters

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in Thomson Reuters by 3.9% in the 1st quarter. Signaturefd LLC now owns 7,433 shares of the business services provider’s stock worth $1,158,000 after acquiring an additional 281 shares during the last quarter. FDx Advisors Inc. increased its position in shares of Thomson Reuters by 22.5% in the first quarter. FDx Advisors Inc. now owns 3,757 shares of the business services provider’s stock worth $585,000 after purchasing an additional 691 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Thomson Reuters in the first quarter valued at approximately $431,000. FORA Capital LLC bought a new stake in Thomson Reuters during the first quarter valued at approximately $610,000. Finally, Tobam grew its stake in Thomson Reuters by 4.3% in the 1st quarter. Tobam now owns 43,686 shares of the business services provider’s stock worth $6,799,000 after buying an additional 1,819 shares in the last quarter. 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.