Thomson Reuters (NYSE:TRI) Price Target Raised to $173.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price hoisted by Royal Bank of Canada from $171.00 to $173.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 2.70% from the stock’s current price.

A number of other equities analysts also recently commented on the company. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $176.33.

Thomson Reuters Trading Up 1.3 %

Shares of NYSE:TRI opened at $168.45 on Wednesday. The firm has a fifty day moving average of $168.71 and a two-hundred day moving average of $166.61. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. Thomson Reuters has a 12-month low of $127.68 and a 12-month high of $176.03. The firm has a market capitalization of $75.78 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 5.59 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Thomson Reuters will post 3.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Thomson Reuters

Large investors have recently modified their holdings of the stock. Blair William & Co. IL grew its position in shares of Thomson Reuters by 3.0% during the 2nd quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock worth $385,000 after buying an additional 66 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Thomson Reuters by 1.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock worth $1,252,000 after buying an additional 74 shares during the period. Sivia Capital Partners LLC lifted its holdings in Thomson Reuters by 4.8% during the second quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock worth $277,000 after acquiring an additional 75 shares in the last quarter. Avitas Wealth Management LLC lifted its holdings in shares of Thomson Reuters by 0.4% during the 2nd quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock valued at $3,508,000 after purchasing an additional 79 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

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.