Thomson Reuters (NYSE:TRI) Price Target Lowered to $168.00 at Royal Bank of Canada

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target reduced by Royal Bank of Canada from $170.00 to $168.00 in a research note released on Friday, Marketbeat Ratings reports. They currently have a sector perform rating on the business services provider’s stock.

Other equities analysts have also issued reports about the stock. Canaccord Genuity Group lifted their target price on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a hold rating in a report on Friday, May 3rd. CIBC upped their price objective on shares of Thomson Reuters from $152.00 to $156.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. UBS Group increased their target price on shares of Thomson Reuters from $177.00 to $190.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Scotiabank upped their price target on Thomson Reuters from $159.00 to $164.00 and gave the stock a sector perform rating in a report on Friday, May 3rd. Finally, Canaccord Genuity Group raised their price objective on Thomson Reuters from $149.00 to $156.00 and gave the company a hold rating in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $171.82.

Thomson Reuters Stock Performance

Shares of NYSE:TRI traded down $1.44 during trading on Friday, hitting $157.43. The stock had a trading volume of 519,024 shares, compared to its average volume of 606,982. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $176.03. The stock has a market capitalization of $70.79 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 6.02 and a beta of 0.72. The stock has a 50-day simple moving average of $166.92 and a two-hundred day simple moving average of $160.40.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.40%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 earnings per share. On average, equities research analysts expect that Thomson Reuters will post 3.7 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.146 per share. This represents a $0.58 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, August 15th. Thomson Reuters’s dividend payout ratio is currently 41.14%.

Institutional Trading of Thomson Reuters

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in shares of Thomson Reuters in the fourth quarter valued at about $11,438,000. Quotient Wealth Partners LLC acquired a new position in Thomson Reuters in the fourth quarter valued at approximately $957,000. FIL Ltd grew its position in Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after acquiring an additional 445,444 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in Thomson Reuters during the fourth quarter worth $2,954,000. Finally, CIBC Asset Management Inc lifted its stake in shares of Thomson Reuters by 11.4% in the 4th quarter. CIBC Asset Management Inc now owns 581,703 shares of the business services provider’s stock valued at $85,320,000 after purchasing an additional 59,388 shares during the last quarter. 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.