Thomson Reuters (NYSE:TRI) PT Raised to $156.00 at Canaccord Genuity Group

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target raised by analysts at Canaccord Genuity Group from $149.00 to $156.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the business services provider’s stock. Canaccord Genuity Group’s target price would suggest a potential downside of 5.31% from the company’s previous close.

A number of other analysts have also commented on TRI. National Bank Financial upgraded shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, April 23rd. Scotiabank lifted their price target on shares of Thomson Reuters from $142.00 to $159.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. CIBC boosted their target price on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research report on Friday. Barclays upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $150.00 to $180.00 in a research report on Thursday, March 14th. Finally, TD Securities boosted their target price on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $164.31.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $164.74 on Friday. The company has a 50 day moving average price of $155.38 and a 200-day moving average price of $146.37. Thomson Reuters has a 52 week low of $117.46 and a 52 week high of $166.11. The firm has a market capitalization of $74.35 billion, a PE ratio of 31.38, a P/E/G ratio of 4.24 and a beta of 0.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26.

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

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds have recently modified their holdings of TRI. Bank of Nova Scotia purchased a new position in shares of Thomson Reuters in the third quarter worth $170,036,000. FMR LLC lifted its holdings in shares of Thomson Reuters by 26.3% in the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after buying an additional 1,179,155 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Thomson Reuters by 6,607,664.7% in the third 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 in the last quarter. Norges Bank purchased a new position in shares of Thomson Reuters in the fourth quarter worth $160,372,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Thomson Reuters by 17.3% in the third quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after buying an additional 919,603 shares in the last quarter. Hedge funds and other 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.