Thomson Reuters (NYSE:TRI) Price Target Raised to $190.00 at UBS Group

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective increased by UBS Group from $177.00 to $190.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other equities research analysts also recently issued reports on TRI. Canaccord Genuity Group boosted their price objective on Thomson Reuters from $149.00 to $156.00 and gave the company a hold rating in a report on Friday. TD Securities boosted their price target on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a hold rating in a research note on Wednesday, March 13th. National Bank Financial raised shares of Thomson Reuters from an underperform rating to a sector perform rating in a research note on Tuesday, April 23rd. CIBC upped their target price on shares of Thomson Reuters from $152.00 to $156.00 and gave the stock a neutral rating in a research note on Friday. Finally, Scotiabank raised their price target on shares of Thomson Reuters from $159.00 to $164.00 and gave the company a sector perform rating in a research report on Friday. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $164.31.

Thomson Reuters Stock Up 1.1 %

Shares of TRI opened at $164.74 on Friday. The company’s 50-day moving average price is $155.38 and its 200 day moving average price is $146.67. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $166.11. 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 firm has a market cap of $74.35 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 4.29 and a beta of 0.65.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.43%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 EPS. On average, sell-side analysts forecast that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TRI. Bank of Nova Scotia purchased a new stake in Thomson Reuters during the third quarter worth approximately $170,036,000. FMR LLC raised its holdings in Thomson Reuters by 26.3% during the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after purchasing an additional 1,179,155 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Thomson Reuters by 6,607,664.7% during the 3rd quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock worth $138,048,000 after buying an additional 1,123,303 shares during the last quarter. Norges Bank purchased a new position in shares of Thomson Reuters in the 4th quarter valued at $160,372,000. Finally, Mackenzie Financial Corp grew its position in shares of Thomson Reuters by 17.3% in 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 buying an additional 919,603 shares during the last quarter. 17.31% of the stock is 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.