Canaccord Genuity Group Boosts Thomson Reuters (NYSE:TRI) Price Target to $156.00

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

Other analysts also recently issued reports about the stock. CIBC boosted their price target on shares of Thomson Reuters from $152.00 to $156.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $180.00 in a research note on Thursday, March 14th. National Bank Financial upgraded shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 23rd. TD Securities increased their target price on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Finally, Scotiabank increased their target price on shares of Thomson Reuters from $142.00 to $159.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $164.31.

Thomson Reuters Price Performance

NYSE:TRI traded up $1.78 during midday trading on Friday, hitting $164.74. The company had a trading volume of 615,548 shares, compared to its average volume of 325,121. Thomson Reuters has a 52-week low of $117.46 and a 52-week high of $166.11. The stock’s fifty day moving average price is $155.25 and its 200-day moving average price is $146.11. The company has a market capitalization of $74.35 billion, a PE ratio of 28.21, a P/E/G ratio of 3.94 and a beta of 0.65. 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 earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.17. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, research analysts expect that Thomson Reuters will post 3.58 earnings per share for the current year.

Institutional Investors Weigh In On Thomson Reuters

Several institutional investors and hedge funds have recently made changes to their positions in TRI. Commonwealth Equity Services LLC increased its position in shares of Thomson Reuters by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 7,331 shares of the business services provider’s stock valued at $897,000 after acquiring an additional 93 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in shares of Thomson Reuters during the third quarter valued at approximately $28,000. Strategic Investment Advisors MI increased its position in shares of Thomson Reuters by 13.0% during the third quarter. Strategic Investment Advisors MI now owns 2,258 shares of the business services provider’s stock valued at $276,000 after acquiring an additional 260 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Thomson Reuters by 5.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,224 shares of the business services provider’s stock valued at $3,837,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Thomson Reuters by 17.3% during the third quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock valued at $755,514,000 after acquiring an additional 919,603 shares in the last quarter. 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.