Thomson Reuters (NYSE:TRI) Price Target Increased to $164.00 by Analysts at JPMorgan Chase & Co.

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target hoisted by analysts at JPMorgan Chase & Co. from $163.00 to $164.00 in a research report issued on Friday, BayStreet.CA reports. The firm currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 4.86% from the stock’s current price.

A number of other equities analysts have also recently commented on TRI. Canaccord Genuity Group upped their price objective on Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. CIBC raised their target price on Thomson Reuters from $152.00 to $156.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. UBS Group increased their price objective on shares of Thomson Reuters from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Scotiabank upped their price objective on shares of Thomson Reuters from $159.00 to $164.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Finally, National Bank Financial raised shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, April 23rd. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $171.82.

Thomson Reuters Stock Down 1.6 %

Shares of NYSE:TRI traded down $2.47 during midday trading on Friday, hitting $156.40. The stock had a trading volume of 313,363 shares, compared to its average volume of 384,470. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. The business’s 50-day simple moving average is $167.29 and its 200-day simple moving average is $160.31. Thomson Reuters has a 12 month low of $117.46 and a 12 month high of $176.03. The company has a market cap of $70.33 billion, a P/E ratio of 29.63, a PEG ratio of 6.18 and a beta of 0.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Thomson Reuters will post 3.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Thomson Reuters

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in Thomson Reuters during the fourth quarter worth about $11,438,000. Quotient Wealth Partners LLC acquired a new stake in shares of Thomson Reuters in the fourth quarter worth $957,000. FIL Ltd grew its stake in shares of Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after buying an additional 445,444 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in Thomson Reuters during the 4th quarter worth $2,954,000. Finally, CIBC Asset Management Inc grew its stake in Thomson Reuters by 11.4% during 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 in the last quarter. 17.31% of the stock is 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.