Scotiabank Forecasts Strong Price Appreciation for Thomson Reuters (NYSE:TRI) Stock

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price hoisted by Scotiabank from $187.00 to $188.00 in a research report released on Friday morning, MarketBeat Ratings reports. They currently have a sector outperform rating on the business services provider’s stock.

A number of other research firms have also commented on TRI. Wells Fargo & Company upped their price target on Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday. CIBC upped their target price on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. The Goldman Sachs Group lifted their price target on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a report on Friday. Royal Bank of Canada upped their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. Finally, StockNews.com raised shares of Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $182.09.

Thomson Reuters Stock Performance

NYSE:TRI opened at $176.56 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. Thomson Reuters has a fifty-two week low of $149.14 and a fifty-two week high of $178.35. The firm has a market cap of $79.45 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 5.59 and a beta of 0.73. The business 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 announced its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.78%. Equities research analysts predict that Thomson Reuters will post 3.96 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.595 per share. The ex-dividend date of this dividend is Thursday, February 20th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. This represents a $2.38 dividend on an annualized basis and a yield of 1.35%. Thomson Reuters’s payout ratio is currently 44.17%.

Institutional Trading of Thomson Reuters

Several large investors have recently modified their holdings of TRI. Decker Retirement Planning Inc. purchased a new position in Thomson Reuters in the fourth quarter worth about $26,000. SBI Securities Co. Ltd. bought a new position in shares of Thomson Reuters in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in shares of Thomson Reuters in the fourth quarter worth approximately $33,000. Asset Dedication LLC grew its position in Thomson Reuters by 125.0% during the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after buying an additional 130 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in Thomson Reuters during the third quarter valued at approximately $47,000. Institutional investors own 17.31% of the company’s stock.

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.