Royal Bank of Canada Raises Thomson Reuters (NYSE:TRI) Price Target to $173.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective raised by Royal Bank of Canada from $171.00 to $173.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the business services provider’s stock.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. increased their price target 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. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $176.33.

Thomson Reuters Trading Down 0.1 %

Shares of TRI stock opened at $168.23 on Wednesday. Thomson Reuters has a 52-week low of $129.02 and a 52-week high of $176.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.94. The firm has a market capitalization of $75.68 billion, a PE ratio of 33.12, a PEG ratio of 5.69 and a beta of 0.73. The stock has a fifty day simple moving average of $168.63 and a two-hundred day simple moving average of $166.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Thomson Reuters will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.54 per share. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, November 21st. Thomson Reuters’s payout ratio is presently 42.52%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRI. TD Asset Management Inc lifted its position in Thomson Reuters by 7.9% during the first quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock valued at $630,534,000 after purchasing an additional 295,301 shares during the period. Cibc World Market Inc. increased its holdings in Thomson Reuters by 26.3% in the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after buying an additional 276,206 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Thomson Reuters in the second quarter valued at $45,514,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Thomson Reuters by 11.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock valued at $439,665,000 after buying an additional 255,387 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in Thomson Reuters by 87.1% in the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after buying an additional 235,145 shares in the last quarter. 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.