JPMorgan Chase & Co. Boosts Thomson Reuters (NYSE:TRI) Price Target to $163.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective hoisted by JPMorgan Chase & Co. from $152.00 to $163.00 in a report published on Friday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other analysts have also weighed in on the stock. CIBC upped their price target on shares of Thomson Reuters from $152.00 to $156.00 and gave the stock a neutral rating in a research note on Friday. Royal Bank of Canada upped their price target on shares of Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a research note on Tuesday. Scotiabank upped their price target on shares of Thomson Reuters from $159.00 to $164.00 and gave the stock a sector perform rating in a research note on Friday. National Bank Financial upgraded shares of Thomson Reuters from an underperform rating to a sector perform rating in a report on Tuesday, April 23rd. Finally, Canaccord Genuity Group boosted their target price on shares of Thomson Reuters from $149.00 to $156.00 and gave the stock a hold rating in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $164.31.

Thomson Reuters Stock Performance

Shares of NYSE TRI traded up $1.78 during midday trading on Friday, hitting $164.74. The company’s stock had a trading volume of 619,405 shares, compared to its average volume of 362,043. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s fifty day moving average price is $155.25 and its 200-day moving average price is $146.11. The firm has a market cap of $74.35 billion, a P/E ratio of 31.38, a P/E/G ratio of 4.24 and a beta of 0.65. Thomson Reuters has a 1-year low of $117.46 and a 1-year high of $166.11.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.43%. Thomson Reuters’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. On average, sell-side analysts forecast that Thomson Reuters will post 3.58 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, May 15th. Thomson Reuters’s dividend payout ratio is currently 41.33%.

Institutional Trading of Thomson Reuters

Several large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in Thomson Reuters by 1.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 70 shares during the last quarter. Fifth Third Bancorp raised its stake in Thomson Reuters by 25.7% during the 4th quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 78 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in Thomson Reuters by 0.7% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 12,685 shares of the business services provider’s stock valued at $1,855,000 after purchasing an additional 82 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in Thomson Reuters by 5.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 1,541 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 85 shares during the last quarter. Finally, Advisor OS LLC raised its stake in shares of Thomson Reuters by 5.2% in the 3rd quarter. Advisor OS LLC now owns 1,730 shares of the business services provider’s stock valued at $212,000 after buying an additional 86 shares in the last quarter. 17.31% of the stock is 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.