Thomson Reuters (NYSE:TRI) Price Target Raised to $171.00 at Royal Bank of Canada

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective raised by Royal Bank of Canada from $168.00 to $171.00 in a research note published on Wednesday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the business services provider’s stock.

Several other brokerages have also recently issued reports on TRI. 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. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $173.73.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $164.78 on Wednesday. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $176.03. The firm has a market capitalization of $74.09 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 5.61 and a beta of 0.73. The business has a 50 day simple moving average of $168.78 and a 200 day simple moving average of $165.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that Thomson Reuters will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a $0.146 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s dividend payout ratio is 41.14%.

Hedge Funds Weigh In On Thomson Reuters

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRI. Rothschild Investment LLC acquired a new position in Thomson Reuters in the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after purchasing an additional 80 shares during the period. Asset Dedication LLC boosted its stake in Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock worth $40,000 after purchasing an additional 130 shares during the period. Clean Yield Group acquired a new position in Thomson Reuters in the 3rd quarter worth approximately $42,000. Finally, Exchange Traded Concepts LLC lifted its position in Thomson Reuters by 104.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock worth $56,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

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.