Canaccord Genuity Group Boosts Thomson Reuters (NYSE:TRI) Price Target to $175.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective hoisted by analysts at Canaccord Genuity Group from $164.00 to $175.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the business services provider’s stock. Canaccord Genuity Group’s target price would suggest a potential downside of 0.64% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a report on Friday. Scotiabank lifted their price target on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research note on Friday. Wells Fargo & Company lifted their target price on Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a report on Friday. Royal Bank of Canada increased their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. Finally, CIBC upped their price target on shares of Thomson Reuters from $165.00 to $174.00 in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Thomson Reuters has an average rating of “Hold” and a consensus target price of $182.09.

Thomson Reuters Price Performance

Shares of TRI traded down $0.77 during mid-day trading on Friday, hitting $176.13. The company’s stock had a trading volume of 186,976 shares, compared to its average volume of 347,788. The stock has a market capitalization of $79.26 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 5.31 and a beta of 0.73. Thomson Reuters has a fifty-two week low of $149.14 and a fifty-two week high of $178.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a 50-day moving average price of $163.98 and a 200 day moving average price of $165.41.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. On average, research analysts predict that Thomson Reuters will post 3.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Thomson Reuters

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its stake in Thomson Reuters by 115.7% in the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock valued at $164,292,000 after buying an additional 516,715 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Thomson Reuters by 52.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock worth $185,011,000 after acquiring an additional 395,481 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Thomson Reuters by 11.0% during 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. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Thomson Reuters by 909.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock valued at $35,815,000 after acquiring an additional 189,199 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Thomson Reuters in the 3rd quarter valued at $29,250,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

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.