Thomson Reuters (NYSE:TRI) PT Raised to $156.00 at Canaccord Genuity Group

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

TRI has been the subject of a number of other reports. Royal Bank of Canada upped their price objective on Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a report on Tuesday, April 30th. CIBC increased their target price on Thomson Reuters from $152.00 to $156.00 and gave the company a neutral rating in a report on Friday. Scotiabank increased their target price on Thomson Reuters from $142.00 to $159.00 and gave the company a sector perform rating in a report on Friday, February 9th. Barclays upgraded Thomson Reuters from an equal weight rating to an overweight rating and increased their target price for the company from $150.00 to $180.00 in a report on Thursday, March 14th. Finally, TD Securities increased their target price on Thomson Reuters from $210.00 to $225.00 and gave the company a hold rating in a report on Wednesday, March 13th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $164.31.

Thomson Reuters Price Performance

TRI opened at $167.07 on Friday. The stock has a 50-day moving average price of $155.54 and a 200-day moving average price of $146.98. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $168.28. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $75.40 billion, a P/E ratio of 31.82, a PEG ratio of 4.52 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts predict that Thomson Reuters will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.29%. The ex-dividend date is Wednesday, May 15th. Thomson Reuters’s dividend payout ratio (DPR) is currently 41.14%.

Institutional Investors Weigh In On Thomson Reuters

Institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its position in shares of Thomson Reuters by 1.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock worth $622,000 after acquiring an additional 70 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Thomson Reuters by 25.7% in the 4th quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock worth $56,000 after acquiring an additional 78 shares in the last quarter. Legacy Wealth Asset Management LLC raised its position in shares of Thomson Reuters by 0.7% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 12,685 shares of the business services provider’s stock worth $1,855,000 after acquiring an additional 82 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Thomson Reuters by 5.8% in the 1st quarter. Gulf International Bank UK Ltd now owns 1,541 shares of the business services provider’s stock worth $239,000 after acquiring an additional 85 shares in the last quarter. Finally, Advisor OS LLC raised its position 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 worth $212,000 after acquiring an additional 86 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.