Thomson Reuters (NYSE:TRI) Stock Price Expected to Rise, CIBC Analyst Says

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target upped by investment analysts at CIBC from $164.00 to $165.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. CIBC’s price objective suggests a potential upside of 1.48% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company began coverage on Thomson Reuters in a research note on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price objective for the company. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Scotiabank upped their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada lifted their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Thomson Reuters presently has a consensus rating of “Hold” and an average target price of $176.10.

Thomson Reuters Stock Up 0.8 %

Shares of NYSE TRI traded up $1.29 on Friday, hitting $162.60. The company had a trading volume of 77,811 shares, compared to its average volume of 170,061. The firm has a market capitalization of $73.16 billion, a P/E ratio of 32.01, a PEG ratio of 5.69 and a beta of 0.71. 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 has a 12-month low of $142.80 and a 12-month high of $176.03. The business has a 50 day moving average of $164.84 and a two-hundred day moving average of $166.06.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. As a group, equities research analysts forecast that Thomson Reuters will post 3.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Thomson Reuters

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Aigen Investment Management LP increased its position in shares of Thomson Reuters by 87.4% in the third quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider’s stock worth $1,250,000 after acquiring an additional 3,417 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of Thomson Reuters in the third quarter worth approximately $4,506,000. Icon Wealth Advisors LLC increased its holdings in Thomson Reuters by 547.4% in the third quarter. Icon Wealth Advisors LLC now owns 7,943 shares of the business services provider’s stock worth $1,355,000 after buying an additional 6,716 shares during the last quarter. Toronto Dominion Bank grew its position in Thomson Reuters by 87.1% in the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after acquiring an additional 235,145 shares in the last quarter. Finally, EFG Asset Management Americas Corp. raised its holdings in shares of Thomson Reuters by 65.4% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 16,500 shares of the business services provider’s stock valued at $2,781,000 after purchasing an additional 6,525 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

About Thomson Reuters

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.