Canaccord Genuity Group Increases Thomson Reuters (NYSE:TRI) Price Target to $175.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target upped by equities researchers at Canaccord Genuity Group from $164.00 to $175.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the business services provider’s stock. Canaccord Genuity Group’s target price indicates a potential downside of 0.64% from the company’s previous close.

A number of other brokerages have also recently weighed in on TRI. Wells Fargo & Company raised their price objective on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a report on Friday. Royal Bank of Canada upped their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 6th. Scotiabank upped their price objective on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research report on Friday. CIBC lifted their price objective on Thomson Reuters from $165.00 to $174.00 in a report on Friday. Finally, StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $182.09.

Thomson Reuters Stock Down 0.4 %

NYSE:TRI traded down $0.77 on Friday, reaching $176.13. The stock had a trading volume of 186,976 shares, compared to its average volume of 347,788. The stock has a market cap of $79.26 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 5.31 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $163.98 and a 200 day moving average of $165.41. Thomson Reuters has a 12-month low of $149.14 and a 12-month high of $178.35.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. On average, research analysts predict that Thomson Reuters will post 3.69 earnings per share for the current year.

Hedge Funds Weigh In On Thomson Reuters

A number of hedge funds and other institutional investors have recently made changes to their positions in TRI. Larson Financial Group LLC increased its stake in shares of Thomson Reuters by 11.0% in the 4th quarter. Larson Financial Group LLC now owns 18,769 shares of the business services provider’s stock valued at $3,010,000 after purchasing an additional 1,854 shares in the last quarter. PCJ Investment Counsel Ltd. increased its holdings in shares of Thomson Reuters by 19.8% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 9,076 shares of the business services provider’s stock worth $1,456,000 after buying an additional 1,500 shares during the last quarter. Oak Hill Wealth Advisors LLC raised its position in Thomson Reuters by 239.6% in the fourth quarter. Oak Hill Wealth Advisors LLC now owns 2,463 shares of the business services provider’s stock valued at $395,000 after purchasing an additional 4,227 shares during the period. EFG Asset Management Americas Corp. lifted its position in Thomson Reuters by 2.0% in the fourth quarter. EFG Asset Management Americas Corp. now owns 16,702 shares of the business services provider’s stock valued at $2,679,000 after buying an additional 321 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Thomson Reuters in the 4th quarter valued at approximately $11,285,000. 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.