Bank of America Has Lowered Expectations for Thomson Reuters (NASDAQ:TRI) Stock Price

Thomson Reuters (NASDAQ:TRI) had its price target lowered by equities research analysts at Bank of America from $115.00 to $98.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 11.45% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Barclays reissued an “overweight” rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. Argus initiated coverage on Thomson Reuters in a research report on Wednesday, April 22nd. They issued a “hold” rating for the company. The Goldman Sachs Group set a $112.66 target price on Thomson Reuters and gave the company a “buy” rating in a research report on Saturday, February 7th. JPMorgan Chase & Co. dropped their target price on Thomson Reuters from $162.40 to $101.50 and set a “neutral” rating for the company in a research report on Friday, February 6th. Finally, Scotiabank set a $138.00 target price on Thomson Reuters and gave the company a “sector outperform” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Moderate Buy” and an average target price of $144.84.

Thomson Reuters Trading Down 2.3%

Shares of NASDAQ:TRI traded down $2.07 during midday trading on Tuesday, reaching $87.93. 3,713,029 shares of the company’s stock were exchanged, compared to its average volume of 2,515,853. The firm’s 50 day simple moving average is $93.03 and its two-hundred day simple moving average is $112.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $38.36 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 1.23 and a beta of 0.80. Thomson Reuters has a fifty-two week low of $78.60 and a fifty-two week high of $218.42.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2 billion. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $1.12 EPS. As a group, sell-side analysts forecast that Thomson Reuters will post 4.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Thomson Reuters by 48.7% in the 1st quarter. Bank of America Corp DE now owns 1,627,069 shares of the company’s stock valued at $146,404,000 after buying an additional 532,803 shares during the period. Arkadios Wealth Advisors purchased a new position in shares of Thomson Reuters in the 1st quarter valued at about $1,775,000. EverSource Wealth Advisors LLC boosted its stake in shares of Thomson Reuters by 26.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,318 shares of the company’s stock valued at $119,000 after buying an additional 276 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Thomson Reuters by 65.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,500,365 shares of the company’s stock valued at $135,297,000 after buying an additional 591,642 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Thomson Reuters by 88.3% in the 1st quarter. Quantinno Capital Management LP now owns 90,480 shares of the company’s stock valued at $8,141,000 after buying an additional 42,428 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real?time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.