Thomson Reuters (NASDAQ:TRI) Price Target Raised to $130.00

Thomson Reuters (NASDAQ:TRI) had its target price upped by RBC Dominion Securities from $124.00 to $130.00 in a research report report published on Wednesday morning,BayStreet reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings upgraded shares of Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 15th. Wells Fargo & Company set a $85.00 price target on shares of Thomson Reuters and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. Canaccord Genuity Group reduced their price objective on shares of Thomson Reuters from $132.50 to $129.50 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Royal Bank Of Canada increased their price objective on shares of Thomson Reuters from $124.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, TD Securities restated a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.99.

Thomson Reuters Price Performance

Shares of TRI opened at $118.25 on Wednesday. The stock has a market capitalization of $51.24 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.24 and a beta of 0.75. Thomson Reuters has a twelve month low of $76.28 and a twelve month high of $157.63. The company has a 50 day moving average of $104.82 and a 200-day moving average of $97.36. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $0.87 earnings per share. As a group, equities research analysts forecast that Thomson Reuters will post 4.46 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a $0.6550 dividend. This represents a $2.62 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is presently 69.68%.

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Western Wealth Management LLC bought a new position in shares of Thomson Reuters during the 1st quarter worth approximately $48,000. GK Wealth Management LLC acquired a new position in shares of Thomson Reuters during the 3rd quarter worth approximately $53,000. Continuum Advisory LLC bought a new stake in Thomson Reuters in the 2nd quarter valued at $45,000. SBI Securities Co. Ltd. raised its stake in Thomson Reuters by 66.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 786 shares of the company’s stock valued at $64,000 after acquiring an additional 315 shares during the period. Finally, Fifth Third Bancorp raised its stake in Thomson Reuters by 135.8% in the 1st quarter. Fifth Third Bancorp now owns 823 shares of the company’s stock valued at $74,000 after acquiring an additional 474 shares during the period. 17.31% of the stock is owned by institutional investors.

About Thomson Reuters

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.