JPMorgan Chase & Co. Boosts Thomson Reuters (NYSE:TRI) Price Target to $163.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target upped by JPMorgan Chase & Co. from $152.00 to $163.00 in a research note issued to investors on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the business services provider’s stock.

Several other analysts also recently weighed in on the stock. Scotiabank lifted their target price on shares of Thomson Reuters from $159.00 to $164.00 and gave the company a sector perform rating in a report on Friday. TD Securities lifted their price objective on Thomson Reuters from $210.00 to $225.00 and gave the company a hold rating in a research note on Wednesday, March 13th. Barclays raised Thomson Reuters from an equal weight rating to an overweight rating and increased their target price for the stock from $150.00 to $180.00 in a research note on Thursday, March 14th. CIBC lifted their target price on Thomson Reuters from $152.00 to $156.00 and gave the company a neutral rating in a research report on Friday. Finally, Royal Bank of Canada boosted their price target on shares of Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a research note on Tuesday, April 30th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $164.31.

Thomson Reuters Stock Performance

NYSE TRI opened at $164.74 on Friday. The stock has a fifty day simple moving average of $155.38 and a 200-day simple moving average 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. 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 twelve month low of $117.46 and a twelve month high of $166.11.

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 for the quarter, topping the consensus estimate of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.43%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm posted $0.85 earnings per share. Thomson Reuters’s revenue was up 8.5% compared to the same quarter last year. Equities analysts anticipate that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Dividend Announcement

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

Institutional Investors Weigh In On Thomson Reuters

A number of large investors have recently modified their holdings of the company. Bank of Nova Scotia acquired a new position in shares of Thomson Reuters during the third quarter worth $170,036,000. FMR LLC boosted its position in shares of Thomson Reuters by 26.3% during the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after acquiring an additional 1,179,155 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Thomson Reuters by 6,607,664.7% in the 3rd quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock valued at $138,048,000 after acquiring an additional 1,123,303 shares during the last quarter. Norges Bank acquired a new stake in shares of Thomson Reuters during the 4th quarter worth about $160,372,000. Finally, Mackenzie Financial Corp lifted its stake in Thomson Reuters by 17.3% during the third quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after purchasing an additional 919,603 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

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.