Thomson Reuters (NYSE:TRI) PT Raised to $164.00 at Scotiabank

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective increased by Scotiabank from $159.00 to $164.00 in a research note issued to investors on Friday morning, Marketbeat.com reports. The brokerage currently has a sector perform rating on the business services provider’s stock.

Several other analysts have also recently commented on TRI. Royal Bank of Canada boosted their price target on Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a research report on Tuesday, April 30th. 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. Canaccord Genuity Group boosted their price target on Thomson Reuters from $149.00 to $156.00 and gave the stock a hold rating in a research report on Friday. CIBC boosted their price target on Thomson Reuters from $152.00 to $156.00 and gave the stock a neutral rating in a research report on Friday. Finally, Barclays upgraded Thomson Reuters from an equal weight rating to an overweight rating and boosted their price target for the stock from $150.00 to $180.00 in a research report on Thursday, March 14th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Thomson Reuters presently has a consensus rating of Hold and a consensus target price of $164.31.

Thomson Reuters Trading Up 1.4 %

Shares of TRI stock opened at $167.07 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $75.40 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 4.52 and a beta of 0.65. The stock has a 50 day simple moving average of $155.54 and a 200-day simple moving average of $146.98. Thomson Reuters has a 1-year low of $117.46 and a 1-year high of $168.28.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.17. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. On average, equities research analysts expect that Thomson Reuters will post 3.58 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, May 15th. Thomson Reuters’s payout ratio is currently 41.14%.

Hedge Funds Weigh In On Thomson Reuters

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Thomson Reuters during the 4th quarter worth about $11,438,000. Checchi Capital Advisers LLC raised its position in Thomson Reuters by 3.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,052 shares of the business services provider’s stock valued at $741,000 after purchasing an additional 201 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in Thomson Reuters in the 4th quarter valued at about $2,954,000. Sapient Capital LLC acquired a new stake in Thomson Reuters in the 4th quarter valued at about $13,461,000. Finally, Larson Financial Group LLC raised its position in Thomson Reuters by 0.9% in the 4th quarter. Larson Financial Group LLC now owns 16,298 shares of the business services provider’s stock valued at $2,383,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

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.