Royal Bank Of Canada Forecasts Strong Price Appreciation for Thomson Reuters (NASDAQ:TRI) Stock

Thomson Reuters (NASDAQ:TRI) had its target price increased by equities research analysts at Royal Bank Of Canada from $124.00 to $130.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 10.85% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Jefferies Financial Group initiated coverage on Thomson Reuters in a report on Tuesday, October 20th. They set a “buy” rating and a $130.00 price target for the company. Morgan Stanley set a $110.00 target price on Thomson Reuters and gave the stock an “equal weight” rating in a research note on Tuesday, October 13th. Barclays reduced their target price on Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, September 8th. Weiss Ratings raised Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 15th. Finally, TD Securities restated a “buy” rating on shares of Thomson Reuters in a research note on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.85.

Thomson Reuters Trading Up 0.7%

Shares of NASDAQ TRI traded up $0.86 during mid-day trading on Wednesday, reaching $117.27. 246,788 shares of the company’s stock were exchanged, compared to its average volume of 2,141,292. The business has a fifty day simple moving average of $104.04 and a 200 day simple moving average of $97.57. Thomson Reuters has a twelve month low of $76.28 and a twelve month high of $160.51.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. Sell-side analysts anticipate that Thomson Reuters will post 4.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Thomson Reuters

Institutional investors and hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its position in Thomson Reuters by 10.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 12,697 shares of the company’s stock valued at $1,222,000 after acquiring an additional 1,223 shares during the last quarter. VestGen Advisors LLC bought a new stake in Thomson Reuters during the 3rd quarter worth approximately $1,439,000. Generali Asset Management SPA SGR lifted its holdings in shares of Thomson Reuters by 2.1% during the third quarter. Generali Asset Management SPA SGR now owns 10,990 shares of the company’s stock worth $1,070,000 after purchasing an additional 223 shares during the period. Livet Wealth LLC bought a new stake in shares of Thomson Reuters in the third quarter worth $265,000. Finally, Park Avenue Securities LLC bought a new stake in shares of Thomson Reuters in the third quarter worth $236,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.