CIBC Raises Thomson Reuters (NYSE:TRI) Price Target to $156.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price upped by CIBC from $152.00 to $156.00 in a research note published on Friday morning, BayStreet.CA reports. The firm currently has a neutral rating on the business services provider’s stock.

Other research analysts have also recently issued reports about the stock. National Bank Financial raised shares of Thomson Reuters from an underperform rating to a sector perform rating in a report on Tuesday, April 23rd. Royal Bank of Canada increased their target price on Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a research note on Tuesday, April 30th. Barclays upgraded Thomson Reuters from an equal weight rating to an overweight rating and boosted their price target for the company from $150.00 to $180.00 in a research note on Thursday, March 14th. Scotiabank increased their price objective on Thomson Reuters from $142.00 to $159.00 and gave the stock a sector perform rating in a research report on Friday, February 9th. Finally, TD Securities lifted their target price on Thomson Reuters from $210.00 to $225.00 and gave the stock a hold rating in a report on Wednesday, March 13th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on 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 NYSE TRI opened at $164.74 on Friday. 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 company has a market capitalization of $74.35 billion, a P/E ratio of 31.38, a P/E/G ratio of 4.29 and a beta of 0.65. Thomson Reuters has a 12 month low of $117.46 and a 12 month high of $166.11. The stock has a 50 day moving average of $155.38 and a 200-day moving average of $146.67.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data 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. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.43%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 earnings per share. As a group, equities research analysts predict that Thomson Reuters will post 3.58 EPS for the current year.

Thomson Reuters Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of Thomson Reuters by 3.9% in the 1st quarter. Signaturefd LLC now owns 7,433 shares of the business services provider’s stock valued at $1,158,000 after purchasing an additional 281 shares in the last quarter. FDx Advisors Inc. boosted its stake in Thomson Reuters by 22.5% in the first quarter. FDx Advisors Inc. now owns 3,757 shares of the business services provider’s stock valued at $585,000 after buying an additional 691 shares in the last quarter. GSA Capital Partners LLP bought a new position in Thomson Reuters in the first quarter valued at about $431,000. FORA Capital LLC acquired a new position in Thomson Reuters during the first quarter worth about $610,000. Finally, Tobam lifted its holdings in shares of Thomson Reuters by 4.3% in the first quarter. Tobam now owns 43,686 shares of the business services provider’s stock worth $6,799,000 after acquiring an additional 1,819 shares during the last quarter. 17.31% of the stock is owned by 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.