Thomson Reuters (NYSE:TRI) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective lifted by equities research analysts at Wells Fargo & Company from $165.00 to $177.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 0.27% from the company’s previous close.

Several other research analysts have also recently commented on TRI. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Scotiabank increased their price target on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. CIBC raised their target price on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada upped their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $177.30.

Thomson Reuters Trading Down 0.2 %

NYSE TRI opened at $176.53 on Friday. The firm’s fifty day simple moving average is $163.98 and its 200-day simple moving average is $165.41. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Thomson Reuters has a 1-year low of $149.14 and a 1-year high of $178.90. The company has a market capitalization of $79.44 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 5.31 and a beta of 0.73.

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

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently modified their holdings of the company. Decker Retirement Planning Inc. purchased a new stake in shares of Thomson Reuters during the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Thomson Reuters in the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in Thomson Reuters during the 4th quarter valued at $33,000. Asset Dedication LLC grew its position in shares of Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock worth $40,000 after buying an additional 130 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Thomson Reuters during the 3rd quarter worth $47,000. 17.31% of the stock is 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.