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

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price lifted by Canaccord Genuity Group from $149.00 to $156.00 in a research note published on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the business services provider’s stock.

Other research analysts have also issued research reports about the stock. Scotiabank lifted their price objective on shares of Thomson Reuters from $159.00 to $164.00 and gave the stock a sector perform rating in a research note on Friday. Barclays raised shares of Thomson Reuters from an equal weight rating to an overweight rating and lifted their price target for the stock from $150.00 to $180.00 in a research report on Thursday, March 14th. JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $152.00 to $163.00 and gave the company a neutral rating in a research report on Friday. Canaccord Genuity Group lifted their target price on Thomson Reuters from $149.00 to $156.00 and gave the stock a hold rating in a report on Friday. Finally, CIBC increased their price target on Thomson Reuters from $152.00 to $156.00 and gave the stock a neutral rating in a report on Friday. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Thomson Reuters presently has a consensus rating of Hold and a consensus target price of $164.31.

Thomson Reuters Stock Up 1.1 %

Shares of NYSE TRI opened at $164.74 on Friday. Thomson Reuters has a 1 year low of $117.46 and a 1 year high of $166.11. The firm’s 50-day moving average is $155.38 and its 200-day moving average is $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 firm has a market capitalization of $74.35 billion, a PE 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 released its 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 quarter in the previous year, the business earned $0.85 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities analysts expect that Thomson Reuters will post 3.58 EPS for the current year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont bought a new position in shares of Thomson Reuters in the 3rd quarter valued at about $27,000. FinTrust Capital Advisors LLC acquired a new position in Thomson Reuters during the third quarter valued at approximately $28,000. Pacifica Partners Inc. grew its stake in Thomson Reuters by 162.0% in the fourth quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 149 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Thomson Reuters during the 4th quarter worth approximately $37,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of Thomson Reuters during the 4th quarter worth approximately $38,000. 17.31% of the stock is currently 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.