Thomson Reuters (NYSE:TRI) PT Raised to $164.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective lifted by JPMorgan Chase & Co. from $163.00 to $164.00 in a research note released on Friday, MarketBeat Ratings reports. The firm currently has a neutral rating on the business services provider’s stock.

A number of other brokerages have also recently commented on TRI. Canaccord Genuity Group upped their price target on Thomson Reuters from $149.00 to $156.00 and gave the company a hold rating in a research note on Friday, May 3rd. National Bank Financial raised Thomson Reuters from an underperform rating to a sector perform rating in a research note on Tuesday, April 23rd. Canaccord Genuity Group upped their price target on Thomson Reuters from $149.00 to $156.00 and gave the company a hold rating in a research note on Friday, May 3rd. UBS Group upped their price target on Thomson Reuters from $177.00 to $190.00 and gave the company a buy rating in a research note on Friday, May 3rd. Finally, CIBC upped their price target on Thomson Reuters from $152.00 to $156.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Thomson Reuters presently has an average rating of Hold and a consensus price target of $171.82.

Thomson Reuters Trading Down 1.4 %

NYSE:TRI traded down $2.27 on Friday, hitting $155.16. 161,432 shares of the stock were exchanged, compared to its average volume of 384,253. The stock has a market capitalization of $69.77 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 5.97 and a beta of 0.72. Thomson Reuters has a 52 week low of $117.46 and a 52 week high of $176.03. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The company’s 50-day moving average price is $166.92 and its 200 day moving average price is $160.58.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a return on equity of 15.40% and a net margin of 33.65%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. On average, equities research analysts forecast that Thomson Reuters will post 3.71 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.146 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is currently 41.14%.

Hedge Funds Weigh In On Thomson Reuters

A number of large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Thomson Reuters by 21.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,920 shares of the business services provider’s stock valued at $576,000 after buying an additional 692 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Thomson Reuters by 25.7% during the 4th quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 78 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Thomson Reuters during the 4th quarter valued at $11,438,000. Allworth Financial LP lifted its holdings in Thomson Reuters by 119.0% during the 4th quarter. Allworth Financial LP now owns 473 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 257 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC acquired a new stake in Thomson Reuters during the 4th quarter valued at $2,954,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

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.