Canaccord Genuity Group Raises Thomson Reuters (NYSE:TRI) Price Target to $156.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective boosted by Canaccord Genuity Group from $149.00 to $156.00 in a report released on Friday morning, BayStreet.CA reports. They currently have a hold rating on the business services provider’s stock.

Several other brokerages also recently commented on TRI. Scotiabank upped their price objective on Thomson Reuters from $142.00 to $159.00 and gave the company a sector perform rating in a research report on Friday, February 9th. TD Securities upped their price target on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a hold rating in a report on Wednesday, March 13th. National Bank Financial upgraded shares of Thomson Reuters from an underperform rating to a sector perform rating in a report on Tuesday, April 23rd. Barclays upgraded shares of Thomson Reuters from an equal weight rating to an overweight rating and upped their target price for the stock from $150.00 to $180.00 in a research note on Thursday, March 14th. Finally, Royal Bank of Canada lifted their price target on shares of Thomson Reuters from $153.00 to $156.00 and gave the company a sector perform rating in a research note on Tuesday, April 30th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $164.31.

Thomson Reuters Price Performance

TRI stock opened at $164.74 on Friday. The stock has a market cap of $74.35 billion, a PE ratio of 31.38, a P/E/G ratio of 4.29 and a beta of 0.65. Thomson Reuters has a 12 month low of $117.46 and a 12 month high of $166.11. The company has a 50-day moving average price of $155.38 and a 200 day moving average price of $146.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.17. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a return on equity of 15.43% and a net margin of 34.87%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. Equities research analysts anticipate that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, May 15th. Thomson Reuters’s payout ratio is 41.33%.

Institutional Investors Weigh In On Thomson Reuters

A number of institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its position in shares of Thomson Reuters by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 7,331 shares of the business services provider’s stock valued at $897,000 after buying an additional 93 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in Thomson Reuters in the third quarter worth $28,000. Strategic Investment Advisors MI grew its holdings in Thomson Reuters by 13.0% in the third quarter. Strategic Investment Advisors MI now owns 2,258 shares of the business services provider’s stock worth $276,000 after purchasing an additional 260 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Thomson Reuters by 5.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,224 shares of the business services provider’s stock worth $3,837,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Thomson Reuters by 17.3% during the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock valued at $755,514,000 after purchasing an additional 919,603 shares during the last quarter. 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.