Thomson Reuters (NYSE:TRI) Given New $171.00 Price Target at Royal Bank of Canada

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective increased by analysts at Royal Bank of Canada from $168.00 to $171.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 2.22% from the stock’s previous close.

Several other research analysts have also recently weighed in on TRI. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. increased their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Thomson Reuters currently has an average rating of “Hold” and an average price target of $173.73.

Thomson Reuters Stock Performance

Shares of NYSE TRI traded up $0.57 during mid-day trading on Wednesday, hitting $167.29. The company had a trading volume of 88,308 shares, compared to its average volume of 356,452. Thomson Reuters has a 1 year low of $117.46 and a 1 year high of $176.03. The stock’s 50-day moving average price is $168.68 and its 200-day moving average price is $165.66. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $75.26 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 5.67 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the business earned $0.84 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Thomson Reuters will post 3.71 earnings per share for the current year.

Institutional Trading of Thomson Reuters

Several large investors have recently added to or reduced their stakes in TRI. Rothschild Investment LLC bought a new stake in Thomson Reuters during the second quarter worth about $25,000. EverSource Wealth Advisors LLC increased its holdings in Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares in the last quarter. Asset Dedication LLC raised its stake in Thomson Reuters by 125.0% during the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after buying an additional 130 shares during the last quarter. Clean Yield Group purchased a new position in shares of Thomson Reuters in the third quarter worth approximately $42,000. Finally, Exchange Traded Concepts LLC raised its position in Thomson Reuters by 104.4% in the third quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock worth $56,000 after acquiring an additional 167 shares during the period. Institutional investors 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.