Thomson Reuters (TRI) Price Target Raised to $53.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target upped by Royal Bank of Canada from $50.00 to $53.00 in a research note released on Wednesday morning. Royal Bank of Canada currently has an outperform rating on the business services provider’s stock.

A number of other research analysts have also commented on the company. Goldman Sachs Group started coverage on Thomson Reuters in a report on Thursday, October 18th. They set a neutral rating on the stock. Morgan Stanley set a $51.00 price objective on Thomson Reuters and gave the company a buy rating in a report on Monday, October 15th. Canaccord Genuity reissued a buy rating and set a $50.00 price objective on shares of Thomson Reuters in a report on Wednesday, September 5th. TD Securities reissued a buy rating and set a $69.00 price objective on shares of Thomson Reuters in a report on Wednesday, November 7th. Finally, ValuEngine raised Thomson Reuters from a hold rating to a buy rating in a report on Wednesday, September 12th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $51.36.

TRI opened at $50.49 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 2.45. The stock has a market cap of $25.75 billion, a PE ratio of 18.29, a PEG ratio of 8.25 and a beta of 0.55. Thomson Reuters has a fifty-two week low of $36.52 and a fifty-two week high of $51.74.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.31 billion. Thomson Reuters had a return on equity of 6.10% and a net margin of 16.21%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, research analysts forecast that Thomson Reuters will post 0.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.40 dividend on an annualized basis and a yield of 2.77%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.35. Thomson Reuters’s dividend payout ratio (DPR) is 55.80%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its holdings in Thomson Reuters by 0.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,803,317 shares of the business services provider’s stock valued at $402,135,000 after buying an additional 60,838 shares during the last quarter. Vanguard Group Inc. grew its holdings in Thomson Reuters by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,307,472 shares of the business services provider’s stock valued at $333,806,000 after buying an additional 182,469 shares during the last quarter. Morgan Stanley grew its holdings in Thomson Reuters by 562.2% in the 3rd quarter. Morgan Stanley now owns 5,318,579 shares of the business services provider’s stock valued at $242,953,000 after buying an additional 4,515,466 shares during the last quarter. Mawer Investment Management Ltd. grew its holdings in Thomson Reuters by 20.8% in the 2nd quarter. Mawer Investment Management Ltd. now owns 3,517,788 shares of the business services provider’s stock valued at $142,070,000 after buying an additional 604,871 shares during the last quarter. Finally, Parnassus Investments CA grew its holdings in Thomson Reuters by 39.5% in the 2nd quarter. Parnassus Investments CA now owns 2,937,541 shares of the business services provider’s stock valued at $118,442,000 after buying an additional 832,502 shares during the last quarter. 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.

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