Thomson Reuters (NYSE:TRI) Price Target Raised to $175.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective raised by Canaccord Genuity Group from $164.00 to $175.00 in a research note published on Friday,BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the business services provider’s stock.

Other research analysts also recently issued research reports about the stock. Scotiabank boosted their price target on shares of Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a research report on Friday. Wells Fargo & Company boosted their target price on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a report on Friday. The Goldman Sachs Group increased their price target on Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank of Canada boosted their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $182.09.

Thomson Reuters Trading Down 0.2 %

TRI opened at $176.56 on Friday. The company’s 50 day moving average price is $164.26 and its two-hundred day moving average price is $165.49. The firm has a market capitalization of $79.45 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 5.59 and a beta of 0.73. Thomson Reuters has a fifty-two week low of $149.14 and a fifty-two week high of $178.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.78% and a net margin of 30.45%. As a group, research analysts predict that Thomson Reuters will post 3.96 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.595 per share. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.38 annualized dividend and a yield of 1.35%. Thomson Reuters’s dividend payout ratio is presently 44.17%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its holdings in shares of Thomson Reuters by 6.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,773 shares of the business services provider’s stock worth $445,000 after acquiring an additional 168 shares during the last quarter. HighTower Advisors LLC increased its holdings in Thomson Reuters by 0.9% during the 4th quarter. HighTower Advisors LLC now owns 11,349 shares of the business services provider’s stock worth $1,821,000 after purchasing an additional 102 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Thomson Reuters in the fourth quarter worth approximately $874,000. AGF Management Ltd. lifted its holdings in shares of Thomson Reuters by 60.7% in the fourth quarter. AGF Management Ltd. now owns 462,241 shares of the business services provider’s stock valued at $74,698,000 after purchasing an additional 174,546 shares in the last quarter. Finally, Vista Investment Partners II LLC purchased a new position in shares of Thomson Reuters during the fourth quarter valued at approximately $2,640,000. 17.31% of the stock is currently 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.