Royal Bank of Canada Boosts Thomson Reuters (NYSE:TRI) Price Target to $171.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target raised by analysts at Royal Bank of Canada from $168.00 to $171.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 2.74% from the company’s current price.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $173.73.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $166.44 on Wednesday. The stock’s 50 day moving average is $168.71 and its 200 day moving average is $165.67. Thomson Reuters has a one year low of $117.46 and a one year high of $176.03. The firm has a market cap of $74.83 billion, a P/E ratio of 31.70, a P/E/G ratio of 5.61 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts expect that Thomson Reuters will post 3.71 EPS for the current year.

Institutional Investors Weigh In On Thomson Reuters

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Thomson Reuters by 67.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 496 shares of the business services provider’s stock worth $85,000 after purchasing an additional 200 shares in the last quarter. Forsta AP Fonden raised its holdings in Thomson Reuters by 11.8% during the third quarter. Forsta AP Fonden now owns 71,888 shares of the business services provider’s stock worth $12,276,000 after buying an additional 7,600 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Thomson Reuters by 30.3% during the third quarter. Ballentine Partners LLC now owns 3,822 shares of the business services provider’s stock valued at $652,000 after buying an additional 889 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Thomson Reuters by 15.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,821 shares of the business services provider’s stock valued at $823,000 after buying an additional 641 shares during the last quarter. Finally, JCIC Asset Management Inc. increased its position in shares of Thomson Reuters by 3.5% during the third quarter. JCIC Asset Management Inc. now owns 25,965 shares of the business services provider’s stock worth $4,429,000 after acquiring an additional 875 shares in the last quarter. Institutional investors and hedge funds 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.