CIBC Issues Positive Forecast for Thomson Reuters (NYSE:TRI) Stock Price

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target raised by analysts at CIBC from $165.00 to $174.00 in a research report issued on Friday,BayStreet.CA reports. CIBC’s price target would indicate a potential downside of 1.21% from the stock’s previous close.

TRI has been the topic of several other reports. StockNews.com raised shares of Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Royal Bank of Canada boosted their target price 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. Scotiabank raised their target price on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research note on Friday. Wells Fargo & Company raised their price objective on Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Thomson Reuters from $175.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Thomson Reuters has an average rating of “Hold” and a consensus target price of $182.09.

Thomson Reuters Stock Down 0.4 %

TRI stock traded down $0.77 during midday trading on Friday, reaching $176.13. 186,976 shares of the company’s stock traded hands, compared to its average volume of 347,788. The company has a market cap of $79.26 billion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 5.31 and a beta of 0.73. Thomson Reuters has a 52 week low of $149.14 and a 52 week high of $178.35. The firm’s fifty day moving average price is $163.98 and its 200-day moving average price is $165.41. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. As a group, sell-side analysts forecast that Thomson Reuters will post 3.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new position in shares of Thomson Reuters in the second quarter worth $303,000. AQR Capital Management LLC purchased a new stake in shares of Thomson Reuters in the second quarter worth about $236,000. Sanctuary Advisors LLC bought a new position in Thomson Reuters during the second quarter valued at approximately $713,000. SG Americas Securities LLC grew its holdings in Thomson Reuters by 59.6% during the 3rd quarter. SG Americas Securities LLC now owns 2,095 shares of the business services provider’s stock valued at $357,000 after buying an additional 782 shares in the last quarter. Finally, First Affirmative Financial Network increased its stake in Thomson Reuters by 27.0% in the 3rd quarter. First Affirmative Financial Network now owns 1,912 shares of the business services provider’s stock worth $326,000 after acquiring an additional 406 shares during the last quarter. 17.31% of the stock is currently owned by 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.