Thomson Reuters (NYSE:TRI) Given New $163.00 Price Target at JPMorgan Chase & Co.

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target upped by JPMorgan Chase & Co. from $152.00 to $163.00 in a research report report published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the business services provider’s stock.

A number of other research analysts have also issued reports on TRI. TD Securities boosted their price target on Thomson Reuters from $210.00 to $225.00 and gave the stock a hold rating in a research report on Wednesday, March 13th. CIBC upped their price objective on shares of Thomson Reuters from $152.00 to $156.00 and gave the stock a neutral rating in a report on Friday. Canaccord Genuity Group increased their target price on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a hold rating in a research report on Friday. Royal Bank of Canada boosted their price target on shares of Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a research report on Tuesday, April 30th. Finally, Barclays upgraded shares of Thomson Reuters from an equal weight rating to an overweight rating and increased their price objective for the company from $150.00 to $180.00 in a report on Thursday, March 14th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Thomson Reuters has a consensus rating of Hold and an average price target of $164.31.

Thomson Reuters Stock Up 1.1 %

TRI stock opened at $164.74 on Friday. The stock has a market cap 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. The firm’s 50-day simple moving average is $155.38 and its 200 day simple moving average is $146.67. Thomson Reuters has a fifty-two week low of $117.46 and a fifty-two week high of $166.11. 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, beating the consensus estimate of $0.94 by $0.17. The company 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%. Thomson Reuters’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. As a group, sell-side analysts predict that Thomson Reuters will post 3.58 EPS for the current year.

Thomson Reuters Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Nova Scotia acquired a new stake in shares of Thomson Reuters during the third quarter valued at approximately $170,036,000. FMR LLC raised its stake in Thomson Reuters by 26.3% during the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock valued at $692,059,000 after purchasing an additional 1,179,155 shares during the period. 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 valued at $138,048,000 after purchasing an additional 1,123,303 shares in the last quarter. Norges Bank purchased a new stake in shares of Thomson Reuters in the fourth quarter valued at $160,372,000. Finally, Mackenzie Financial Corp boosted its position 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 during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

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.