Brokerages Set Thomson Reuters Co. (NYSE:TRI) Target Price at $202.64

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $202.6364.

A number of research firms recently issued reports on TRI. Canaccord Genuity Group boosted their target price on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Huber Research raised Thomson Reuters to an “overweight” rating in a report on Monday. TD Securities raised Thomson Reuters from a “hold” rating to a “buy” rating and raised their target price for the stock from $275.00 to $285.00 in a report on Thursday, August 28th. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $188.00 to $200.00 in a report on Wednesday, August 6th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Thomson Reuters in a research note on Thursday, July 10th.

Thomson Reuters Trading Up 0.2%

Shares of NYSE:TRI opened at $163.45 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Thomson Reuters has a 52-week low of $149.47 and a 52-week high of $218.42. The stock has a market cap of $73.01 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 5.67 and a beta of 0.74. The business has a 50-day moving average price of $165.39 and a 200-day moving average price of $182.41.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company earned $0.85 EPS. Thomson Reuters’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts predict that Thomson Reuters will post 3.89 EPS for the current year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $0.595 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $2.38 dividend on an annualized basis and a yield of 1.5%. Thomson Reuters’s payout ratio is presently 65.75%.

Institutional Investors Weigh In On Thomson Reuters

A number of institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. increased its position in shares of Thomson Reuters by 772.2% in the first quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider’s stock valued at $27,000 after buying an additional 139 shares in the last quarter. Curio Wealth LLC increased its holdings in Thomson Reuters by 16,200.0% in the 2nd quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock worth $33,000 after acquiring an additional 162 shares in the last quarter. Westside Investment Management Inc. acquired a new position in Thomson Reuters during the second quarter worth $34,000. Ameritas Advisory Services LLC purchased a new position in Thomson Reuters during the second quarter valued at $37,000. Finally, AlphaCore Capital LLC acquired a new stake in shares of Thomson Reuters in the second quarter valued at about $39,000. 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.