Royal Bank of Canada Increases Thomson Reuters (NYSE:TRI) Price Target to $153.00

Thomson Reuters (NYSE:TRIFree Report) (TSE:TRI) had its target price upped by Royal Bank of Canada from $149.00 to $153.00 in a research note issued to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the business services provider’s stock.

Several other brokerages have also recently issued reports on TRI. Morgan Stanley lowered their price objective on shares of Thomson Reuters from $135.00 to $130.00 and set an equal weight rating on the stock in a research note on Thursday, November 2nd. CIBC raised their target price on shares of Thomson Reuters from $130.00 to $138.00 and gave the stock a neutral rating in a report on Thursday, January 11th. BMO Capital Markets raised their target price on shares of Thomson Reuters from $192.00 to $201.00 and gave the stock an outperform rating in a report on Friday, November 3rd. UBS Group assumed coverage on shares of Thomson Reuters in a report on Tuesday, November 7th. They issued a buy rating and a $153.00 target price for the company. Finally, Barclays decreased their target price on shares of Thomson Reuters from $135.00 to $130.00 and set an equal weight rating for the company in a report on Thursday, November 2nd. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $149.23.

View Our Latest Stock Report on Thomson Reuters

Thomson Reuters Stock Down 2.6 %

Thomson Reuters stock opened at $154.56 on Friday. The stock has a market cap of $70.01 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 4.08 and a beta of 0.65. The company has a current ratio of 0.90, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $146.22 and its two-hundred day moving average price is $135.15. Thomson Reuters has a 52 week low of $117.46 and a 52 week high of $159.26.

Thomson Reuters (NYSE:TRIGet Free Report) (TSE:TRI) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. On average, analysts expect that Thomson Reuters will post 3.63 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.54 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.16 dividend on an annualized basis and a yield of 1.40%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.49. Thomson Reuters’s payout ratio is currently 33.57%.

Institutional Investors Weigh In On Thomson Reuters

A number of institutional investors have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC acquired a new stake in Thomson Reuters during the fourth quarter worth $203,000. Gold Investment Management Ltd. acquired a new stake in shares of Thomson Reuters in the 4th quarter valued at $41,000. Stifel Financial Corp boosted its stake in shares of Thomson Reuters by 0.6% in the 4th quarter. Stifel Financial Corp now owns 69,269 shares of the business services provider’s stock valued at $10,129,000 after purchasing an additional 402 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Thomson Reuters by 30.8% in the 4th quarter. TD Asset Management Inc now owns 3,752,472 shares of the business services provider’s stock valued at $551,317,000 after purchasing an additional 884,572 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Thomson Reuters by 74.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 10,269 shares of the business services provider’s stock valued at $1,502,000 after purchasing an additional 4,394 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

About Thomson Reuters

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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.

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