Thomson Reuters (NYSE:TRI) Price Target Raised to $165.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target raised by CIBC from $164.00 to $165.00 in a research note released on Friday,BayStreet.CA reports. They currently have a neutral rating on the business services provider’s stock.

TRI has been the topic of several other reports. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Royal Bank of Canada raised their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Wells Fargo & Company began coverage on Thomson Reuters in a research note on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price objective on the stock. Finally, Scotiabank raised their target price on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $176.10.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $162.37 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $73.06 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 5.69 and a beta of 0.72. Thomson Reuters has a 52 week low of $142.80 and a 52 week high of $176.03. The firm’s 50-day simple moving average is $164.79 and its two-hundred day simple moving average is $166.02.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. Thomson Reuters’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. As a group, equities analysts forecast that Thomson Reuters will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a $0.54 dividend. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, November 21st. Thomson Reuters’s dividend payout ratio (DPR) is currently 42.52%.

Hedge Funds Weigh In On Thomson Reuters

A number of hedge funds and other institutional investors have recently bought and sold shares of TRI. FMR LLC raised its position in shares of Thomson Reuters by 0.8% during the 3rd quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock valued at $1,229,716,000 after buying an additional 57,854 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of Thomson Reuters by 1.0% in the 3rd quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock worth $458,559,000 after purchasing an additional 27,714 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Thomson Reuters by 11.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after purchasing an additional 255,387 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Thomson Reuters by 9.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider’s stock valued at $245,893,000 after purchasing an additional 125,167 shares during the last quarter. Finally, Cibc World Market Inc. raised its holdings in shares of Thomson Reuters by 26.3% during the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after buying an additional 276,206 shares in the last quarter. Hedge funds and other 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.