Thomson Reuters (NYSE:TRI) Price Target Raised to $165.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target upped by CIBC from $164.00 to $165.00 in a research note published on Friday morning,BayStreet.CA reports. The brokerage currently has a neutral rating on the business services provider’s stock.

A number of other research analysts also recently issued reports on TRI. Wells Fargo & Company assumed coverage on shares of Thomson Reuters in a research report on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 target price on the stock. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Scotiabank raised their target price on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com cut Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $176.10.

Thomson Reuters Price Performance

TRI stock opened at $162.37 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $164.79 and its 200 day simple moving average is $166.02. Thomson Reuters has a 12-month low of $142.80 and a 12-month high of $176.03. The firm has a market cap of $73.06 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 5.69 and a beta of 0.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 EPS. On average, analysts expect that Thomson Reuters will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a $0.54 dividend. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Thursday, November 21st. Thomson Reuters’s dividend payout ratio is presently 42.52%.

Hedge Funds Weigh In On Thomson Reuters

A number of hedge funds have recently bought and sold shares of TRI. Rothschild Investment LLC bought a new position in shares of Thomson Reuters during the second quarter valued at about $25,000. Asset Dedication LLC increased its stake in Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after buying an additional 130 shares during the last quarter. Clean Yield Group bought a new position in shares of Thomson Reuters during the 3rd quarter worth approximately $42,000. Ashton Thomas Securities LLC purchased a new position in shares of Thomson Reuters in the 3rd quarter worth approximately $47,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Thomson Reuters by 104.4% in the third quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 167 shares in the last quarter. 17.31% of the stock is owned by hedge funds and other 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.