Thomson Reuters (TRI) Given New $56.00 Price Target at Morgan Stanley

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target raised by research analysts at Morgan Stanley from $53.00 to $56.00 in a report issued on Thursday. The brokerage presently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 9.83% from the stock’s current price.

TRI has been the topic of several other reports. Zacks Investment Research cut shares of Thomson Reuters from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Canaccord Genuity reissued a “buy” rating and set a $50.00 price target on shares of Thomson Reuters in a research report on Wednesday, September 5th. Bank of America reissued a “neutral” rating and set a $48.00 price target on shares of Thomson Reuters in a research report on Wednesday, October 10th. National Bank Financial reissued a “buy” rating on shares of Thomson Reuters in a research report on Wednesday. Finally, Goldman Sachs Group assumed coverage on shares of Thomson Reuters in a research report on Thursday, October 18th. They set a “neutral” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Thomson Reuters has a consensus rating of “Hold” and a consensus target price of $51.00.

TRI opened at $50.99 on Thursday. The firm has a market capitalization of $25.75 billion, a P/E ratio of 18.47, a P/E/G ratio of 8.25 and a beta of 0.55. Thomson Reuters has a 12 month low of $36.52 and a 12 month high of $51.74. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.39.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.04 by $0.07. Thomson Reuters had a net margin of 16.21% and a return on equity of 6.10%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts forecast that Thomson Reuters will post 0.69 EPS for the current year.

Large investors have recently modified their holdings of the business. Cerebellum GP LLC bought a new stake in shares of Thomson Reuters in the 3rd quarter valued at about $190,000. Beach Investment Counsel Inc. PA bought a new stake in shares of Thomson Reuters in the 3rd quarter valued at about $200,000. Laurel Wealth Advisors Inc. bought a new stake in shares of Thomson Reuters in the 2nd quarter valued at about $201,000. Marathon Trading Investment Management LLC bought a new stake in shares of Thomson Reuters in the 2nd quarter valued at about $202,000. Finally, IFG Advisory LLC bought a new stake in shares of Thomson Reuters in the 3rd quarter valued at about $205,000. 33.08% of the stock is currently owned by hedge funds and other institutional investors.

About Thomson Reuters

Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.

Further Reading: Earnings Per Share (EPS) Explained

Analyst Recommendations for Thomson Reuters (NYSE:TRI)

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