Thomson Reuters (NYSE:TRI) Price Target Raised to $152.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price lifted by CIBC from $146.00 to $152.00 in a report published on Thursday morning, Benzinga reports. CIBC currently has a neutral rating on the business services provider’s stock.

TRI has been the topic of a number of other reports. Royal Bank of Canada upped their price target on Thomson Reuters from $149.00 to $153.00 and gave the company a sector perform rating in a report on Friday, February 9th. Barclays raised Thomson Reuters from an equal weight rating to an overweight rating and raised their price objective for the company from $150.00 to $180.00 in a research note on Thursday. National Bank Financial cut Thomson Reuters from a sector perform under weight rating to an underperform underweight rating in a report on Tuesday, February 20th. Finally, Scotiabank upped their target price on Thomson Reuters from $142.00 to $159.00 and gave the company a sector perform rating in a research report on Friday, February 9th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $156.85.

Thomson Reuters Trading Down 0.4 %

Thomson Reuters stock traded down $0.56 during trading hours on Thursday, reaching $156.79. The company had a trading volume of 263,964 shares, compared to its average volume of 306,054. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day moving average price of $153.57 and a 200 day moving average price of $139.99. The firm has a market cap of $70.78 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 4.09 and a beta of 0.66. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $161.57.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. Thomson Reuters had a return on equity of 14.01% and a net margin of 39.67%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the firm earned $0.76 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts forecast that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 21st were paid a dividend of $0.54 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.49. The ex-dividend date was Tuesday, February 20th. This represents a $2.16 annualized dividend and a yield of 1.38%. Thomson Reuters’s dividend payout ratio is 36.99%.

Institutional Trading of Thomson Reuters

A number of large investors have recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC raised its holdings in Thomson Reuters by 3.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,052 shares of the business services provider’s stock worth $741,000 after acquiring an additional 201 shares during the period. Legacy Wealth Asset Management LLC lifted its holdings in Thomson Reuters by 44.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 12,603 shares of the business services provider’s stock valued at $1,542,000 after buying an additional 3,901 shares during the period. FMR LLC lifted its holdings in Thomson Reuters by 26.3% in the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock valued at $692,059,000 after buying an additional 1,179,155 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Thomson Reuters in the third quarter worth $686,000. Finally, Cumberland Partners Ltd raised its holdings in Thomson Reuters by 2.1% in the third quarter. Cumberland Partners Ltd now owns 227,831 shares of the business services provider’s stock worth $27,958,000 after purchasing an additional 4,738 shares during the period. 17.31% of the stock is currently owned by institutional investors.

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.