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

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

TRI has been the topic of a number of other reports. National Bank Financial upgraded shares of Thomson Reuters from an underperform rating to a sector perform rating in a research note on Tuesday, April 23rd. Scotiabank boosted their price target on shares of Thomson Reuters from $142.00 to $159.00 and gave the stock a sector perform rating in a report on Friday, February 9th. 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 report on Wednesday, March 13th. Royal Bank of Canada boosted their target price on shares of Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a research note on Tuesday, April 30th. Finally, Barclays raised Thomson Reuters from an equal weight rating to an overweight rating and increased their target price 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $164.31.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $164.74 on Friday. The company’s 50 day moving average is $155.38 and its two-hundred day moving average is $146.67. The firm 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 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 has a 52-week low of $117.46 and a 52-week high of $166.11.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data 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 business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts expect that Thomson Reuters will post 3.58 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.54 per share. 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 (DPR) is 41.33%.

Hedge Funds Weigh In On Thomson Reuters

Hedge funds have recently modified their holdings of the business. Trust Co. of Vermont purchased a new stake in Thomson Reuters in the 3rd quarter valued at $27,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Thomson Reuters in the third quarter valued at about $28,000. Pacifica Partners Inc. boosted its stake in shares of Thomson Reuters by 162.0% during the fourth quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock worth $34,000 after buying an additional 149 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in shares of Thomson Reuters during the fourth quarter worth about $37,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in Thomson Reuters in the 4th quarter valued at about $38,000. 17.31% of the stock is currently 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.