Thomson Reuters (NYSE:TRI) Given New $160.00 Price Target at JPMorgan Chase & Co.

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective cut by JPMorgan Chase & Co. from $178.00 to $160.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

TRI has been the subject of several other reports. Huber Research upgraded Thomson Reuters to an “overweight” rating in a research note on Monday, October 20th. National Bankshares restated an “outperform” rating on shares of Thomson Reuters in a report on Thursday, July 10th. Wells Fargo & Company upgraded Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $187.00 to $212.00 in a report on Tuesday, September 9th. The Goldman Sachs Group set a $186.00 price objective on Thomson Reuters and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, TD Securities upgraded Thomson Reuters from a “hold” rating to a “buy” rating and increased their price objective for the company from $275.00 to $285.00 in a report on Thursday, August 28th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.27.

Thomson Reuters Trading Down 1.6%

Shares of TRI stock opened at $144.25 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a market cap of $64.43 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The stock has a 50 day simple moving average of $161.74 and a 200 day simple moving average of $181.39. Thomson Reuters has a 1 year low of $143.63 and a 1 year high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 earnings per share. Thomson Reuters has set its FY 2025 guidance at EPS. On average, research analysts predict that Thomson Reuters will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, November 18th. Thomson Reuters’s dividend payout ratio (DPR) is presently 61.18%.

Institutional Trading of Thomson Reuters

A number of large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its holdings in Thomson Reuters by 53.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 614 shares of the business services provider’s stock worth $96,000 after acquiring an additional 215 shares during the period. Savant Capital LLC grew its stake in shares of Thomson Reuters by 11.9% in the 3rd quarter. Savant Capital LLC now owns 4,567 shares of the business services provider’s stock valued at $709,000 after buying an additional 487 shares during the period. Westside Investment Management Inc. grew its stake in shares of Thomson Reuters by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the business services provider’s stock valued at $52,000 after buying an additional 169 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Thomson Reuters by 24.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 129,577 shares of the business services provider’s stock valued at $20,125,000 after buying an additional 25,777 shares during the period. Finally, AGF Management Ltd. grew its stake in shares of Thomson Reuters by 186.8% in the 3rd quarter. AGF Management Ltd. now owns 870,312 shares of the business services provider’s stock valued at $135,592,000 after buying an additional 566,908 shares during the period. 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.