Thomson Reuters (NYSE:TRI) Price Target Raised to $187.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target boosted by equities researchers at Scotiabank from $182.00 to $187.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price target suggests a potential upside of 11.01% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $176.33.

Thomson Reuters Trading Up 1.3 %

TRI opened at $168.45 on Wednesday. The firm has a market capitalization of $75.78 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 5.59 and a beta of 0.73. The company’s 50 day simple moving average is $168.71 and its two-hundred day simple moving average is $166.61. Thomson Reuters has a 1-year low of $127.68 and a 1-year high of $176.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.88.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. Analysts expect that Thomson Reuters will post 3.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Prospera Financial Services Inc grew its stake in shares of Thomson Reuters by 10.4% in the third quarter. Prospera Financial Services Inc now owns 2,964 shares of the business services provider’s stock valued at $506,000 after buying an additional 280 shares in the last quarter. Caprock Group LLC boosted its holdings in Thomson Reuters by 7.6% during the 3rd quarter. Caprock Group LLC now owns 3,506 shares of the business services provider’s stock valued at $598,000 after acquiring an additional 248 shares during the period. Swiss National Bank grew its position in Thomson Reuters by 0.4% in the 3rd quarter. Swiss National Bank now owns 476,055 shares of the business services provider’s stock valued at $81,331,000 after acquiring an additional 2,000 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in Thomson Reuters by 2.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,700 shares of the business services provider’s stock worth $972,000 after purchasing an additional 140 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in shares of Thomson Reuters during the third quarter worth about $4,387,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

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.