Wells Fargo & Company Cuts Thomson Reuters (NYSE:TRI) Price Target to $160.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price dropped by research analysts at Wells Fargo & Company from $212.00 to $160.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 26.49% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. The Goldman Sachs Group set a $186.00 price objective on Thomson Reuters and gave the company a “buy” rating in a research report on Wednesday, October 15th. BMO Capital Markets restated an “outperform” rating on shares of Thomson Reuters in a research note on Wednesday, November 5th. Huber Research upgraded Thomson Reuters to an “overweight” rating in a report on Monday, October 20th. Finally, Royal Bank Of Canada decreased their price target on Thomson Reuters from $208.00 to $182.00 and set a “sector perform” rating for the company in a report on Wednesday, October 29th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $189.91.

Thomson Reuters Price Performance

Shares of NYSE TRI traded down $0.03 during midday trading on Wednesday, hitting $126.50. The company had a trading volume of 222,877 shares, compared to its average volume of 865,940. The firm has a market capitalization of $56.27 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 5.67 and a beta of 0.80. Thomson Reuters has a twelve month low of $125.80 and a twelve month high of $218.42. The business has a 50-day simple moving average of $133.17 and a two-hundred day simple moving average of $161.17. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 4th. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.78 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.Thomson Reuters’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. Equities research analysts anticipate that Thomson Reuters will post 3.89 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Curio Wealth LLC lifted its stake in shares of Thomson Reuters by 16,200.0% in the second quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock worth $33,000 after buying an additional 162 shares during the last quarter. Westside Investment Management Inc. bought a new stake in Thomson Reuters during the second quarter valued at about $34,000. Ameritas Advisory Services LLC acquired a new stake in shares of Thomson Reuters in the second quarter valued at about $37,000. AlphaCore Capital LLC bought a new stake in shares of Thomson Reuters in the second quarter valued at approximately $39,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Thomson Reuters by 50.0% during the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Company Profile

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.