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

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

Other equities research analysts have also recently issued research reports about the company. National Bank Financial raised Thomson Reuters from an underperform rating to a sector perform rating in a report on Tuesday, April 23rd. Canaccord Genuity Group lifted their target price on Thomson Reuters from $149.00 to $156.00 and gave the company a hold rating in a research note on Friday. Scotiabank raised their price target on Thomson Reuters from $159.00 to $164.00 and gave the company a sector perform rating in a report on Friday. CIBC increased their target price on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a neutral rating in a research report on Friday. Finally, TD Securities raised their price objective on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a hold rating in a research note on Wednesday, March 13th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Thomson Reuters presently has an average rating of Hold and an average target price of $164.31.

Thomson Reuters Stock Up 1.1 %

Shares of Thomson Reuters stock opened at $164.74 on Friday. Thomson Reuters has a twelve month low of $117.46 and a twelve month high of $166.11. The stock has a market capitalization of $74.35 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 4.29 and a beta of 0.65. 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 business’s 50 day simple moving average is $155.38 and its 200-day simple moving average is $146.67.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.43%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts forecast that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Announces Dividend

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

Institutional Investors Weigh In On Thomson Reuters

A number of institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of Thomson Reuters in the 4th quarter valued at $11,438,000. Checchi Capital Advisers LLC lifted its stake in Thomson Reuters by 3.4% during the third quarter. Checchi Capital Advisers LLC now owns 6,052 shares of the business services provider’s stock valued at $741,000 after buying an additional 201 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of Thomson Reuters in the fourth quarter worth about $2,954,000. Sapient Capital LLC purchased a new position in shares of Thomson Reuters in the fourth quarter worth approximately $13,461,000. Finally, Larson Financial Group LLC raised its holdings in shares of Thomson Reuters by 0.9% during the fourth quarter. Larson Financial Group LLC now owns 16,298 shares of the business services provider’s stock valued at $2,383,000 after acquiring an additional 146 shares during the period. 17.31% of the stock is 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.