CIBC Increases Thomson Reuters (NYSE:TRI) Price Target to $165.00

Thomson Reuters (NYSE:TRIGet Free Report) (TSE:TRI) had its price target hoisted by research analysts at CIBC from $164.00 to $165.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. CIBC’s price target suggests a potential upside of 1.62% from the stock’s current price.

A number of other brokerages have also recently weighed in on TRI. StockNews.com cut Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Scotiabank increased their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada increased their target price on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company began coverage on shares of Thomson Reuters in a report on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $176.10.

Check Out Our Latest Research Report on TRI

Thomson Reuters Stock Performance

NYSE TRI opened at $162.37 on Friday. Thomson Reuters has a fifty-two week low of $142.80 and a fifty-two week high of $176.03. The firm has a market capitalization of $73.06 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 5.69 and a beta of 0.72. The stock’s fifty day moving average is $164.79 and its two-hundred day moving average is $166.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94.

Thomson Reuters (NYSE:TRIGet Free Report) (TSE:TRI) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts anticipate that Thomson Reuters will post 3.69 earnings per share for the current year.

Institutional Trading of Thomson Reuters

Several hedge funds and other institutional investors have recently made changes to their positions in TRI. National Bank of Canada FI lifted its holdings in Thomson Reuters by 115.7% in the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock valued at $164,292,000 after acquiring an additional 516,715 shares during the period. Cibc World Market Inc. increased its stake in Thomson Reuters by 26.3% in the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after purchasing an additional 276,206 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Thomson Reuters by 11.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after purchasing an additional 255,387 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Thomson Reuters by 87.1% in the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after buying an additional 235,145 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Thomson Reuters by 909.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock worth $35,815,000 after buying an additional 189,199 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

About Thomson Reuters

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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.

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