Royal Bank of Canada Boosts Thomson Reuters (NYSE:TRI) Price Target to $156.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target raised by Royal Bank of Canada from $153.00 to $156.00 in a research report report published on Tuesday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the business services provider’s stock.

Other research analysts have also recently issued research reports about the company. Scotiabank upped their price target on Thomson Reuters from $142.00 to $159.00 and gave the company a sector perform rating in a report on Friday, February 9th. National Bank Financial upgraded shares of Thomson Reuters from an underperform rating to a sector perform rating in a report on Tuesday, April 23rd. CIBC boosted their target price on Thomson Reuters from $146.00 to $152.00 and gave the stock a neutral rating in a report on Thursday, March 14th. TD Securities increased 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, Barclays raised shares of Thomson Reuters from an equal weight rating to an overweight rating and boosted their target price for the stock from $150.00 to $180.00 in a research report on Thursday, March 14th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $164.31.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $164.74 on Tuesday. Thomson Reuters has a 52 week low of $117.46 and a 52 week high of $166.11. The company has a market cap of $74.34 billion, a P/E ratio of 28.21, a PEG 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. The business has a 50 day moving average of $155.25 and a two-hundred day moving average of $146.11.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.94 by $0.17. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. Thomson Reuters’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Thomson Reuters will post 3.58 EPS for the current year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Wednesday, May 15th. Thomson Reuters’s dividend payout ratio (DPR) is currently 36.99%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Trust Co. of Vermont acquired a new position in Thomson Reuters during the 3rd quarter worth about $27,000. FinTrust Capital Advisors LLC bought a new position in shares of Thomson Reuters in the third quarter worth about $28,000. Pacifica Partners Inc. lifted its position in shares of Thomson Reuters by 162.0% during the fourth quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock worth $34,000 after purchasing an additional 149 shares in the last quarter. Operose Advisors LLC bought a new stake in shares of Thomson Reuters during the third quarter valued at approximately $37,000. Finally, Tennessee Valley Asset Management Partners bought a new position in Thomson Reuters in the 4th quarter worth approximately $37,000. 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.