Thomson Reuters (NYSE:TRI) Given New $156.00 Price Target at Canaccord Genuity Group

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target upped by Canaccord Genuity Group from $149.00 to $156.00 in a report published on Friday, Benzinga reports. The firm currently has a hold rating on the business services provider’s stock.

TRI has been the topic of a number of other research reports. Scotiabank upped their price objective on Thomson Reuters from $159.00 to $164.00 and gave the stock a sector perform rating in a research report on Friday. Canaccord Genuity Group increased their target price on Thomson Reuters from $149.00 to $156.00 and gave the company a hold rating in a report on Friday. Royal Bank of Canada increased their target price on Thomson Reuters from $153.00 to $156.00 and gave the company a sector perform rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on Thomson Reuters from $152.00 to $163.00 and gave the company a neutral rating in a report on Friday. Finally, National Bank Financial raised Thomson Reuters from an underperform rating to a sector perform rating in a report on Tuesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $164.31.

Thomson Reuters Trading Up 1.1 %

NYSE:TRI traded up $1.78 during trading hours on Friday, reaching $164.74. 619,405 shares of the stock were exchanged, compared to its average volume of 362,043. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average of $155.25 and a two-hundred day moving average of $146.11. Thomson Reuters has a twelve month low of $117.46 and a twelve month high of $166.11. The company has a market capitalization of $74.35 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 4.24 and a beta of 0.65.

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

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a $0.54 dividend. 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 payout ratio is 41.33%.

Institutional Trading of Thomson Reuters

A number of institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. increased its position in shares of Thomson Reuters by 1.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock valued at $622,000 after buying an additional 70 shares in the last quarter. Fifth Third Bancorp increased its holdings 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 acquiring an additional 78 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings 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 acquiring an additional 82 shares in the last quarter. Gulf International Bank UK Ltd increased its holdings 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 acquiring an additional 85 shares in the last quarter. Finally, Advisor OS LLC increased its holdings in Thomson Reuters by 5.2% during the 3rd quarter. Advisor OS LLC now owns 1,730 shares of the business services provider’s stock valued at $212,000 after acquiring an additional 86 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Company Profile

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.