Scotiabank Boosts Thomson Reuters (NYSE:TRI) Price Target to $164.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price hoisted by Scotiabank from $159.00 to $164.00 in a research report report published on Friday morning, MarketBeat reports. They currently have a sector perform rating on the business services provider’s stock.

Other research analysts also recently issued reports about the company. TD Securities lifted 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 target price on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a neutral rating in a research note on Friday. Royal Bank of Canada raised 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. Canaccord Genuity Group lifted their target price on Thomson Reuters from $149.00 to $156.00 and gave the stock a hold rating in a research report on Friday. Finally, Barclays raised Thomson Reuters from an equal weight rating to an overweight rating and upped their price target for the company from $150.00 to $180.00 in a report on Thursday, March 14th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $164.31.

Thomson Reuters Trading Up 1.1 %

NYSE:TRI opened at $164.74 on Friday. The firm has a market cap of $74.35 billion, a price-to-earnings 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 company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $155.38 and its 200-day moving average is $146.67.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued 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 return on equity of 15.43% and a net margin of 34.87%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $0.85 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. Equities analysts anticipate that Thomson Reuters will post 3.58 EPS for the current year.

Thomson Reuters Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRI. Bank of Nova Scotia acquired a new stake in shares of Thomson Reuters in the 3rd quarter valued at $170,036,000. FMR LLC boosted its position in Thomson Reuters by 26.3% in the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock valued at $692,059,000 after buying an additional 1,179,155 shares in the last quarter. Legal & General Group Plc grew its stake in Thomson Reuters by 6,607,664.7% during the third quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock worth $138,048,000 after buying an additional 1,123,303 shares during the last quarter. Norges Bank acquired a new stake in shares of Thomson Reuters during the fourth quarter worth approximately $160,372,000. Finally, Mackenzie Financial Corp raised its stake 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 valued at $755,514,000 after acquiring an additional 919,603 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

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.