Thomson Reuters (NYSE:TRI) Given New $188.00 Price Target at Scotiabank

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price increased by Scotiabank from $187.00 to $188.00 in a report issued on Friday morning, MarketBeat.com reports. They currently have a sector outperform rating on the business services provider’s stock.

Several other research analysts have also issued reports on the company. Royal Bank of Canada increased their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Wells Fargo & Company raised their price target on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday. CIBC boosted their price objective on Thomson Reuters from $164.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group increased their target price on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $182.09.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $176.56 on Friday. The firm has a 50 day moving average of $163.98 and a 200-day moving average of $165.41. The company has a market cap of $79.45 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 5.59 and a beta of 0.73. 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 52 week low of $149.14 and a 52 week high of $178.35.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly 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 net margin of 30.45% and a return on equity of 14.78%. On average, equities analysts forecast that Thomson Reuters will post 3.96 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Thursday, February 20th will be given a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 1.35%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, February 20th. Thomson Reuters’s payout ratio is presently 44.17%.

Institutional Trading of Thomson Reuters

Several institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC grew its holdings in shares of Thomson Reuters by 6.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,773 shares of the business services provider’s stock worth $445,000 after purchasing an additional 168 shares in the last quarter. HighTower Advisors LLC grew its stake in Thomson Reuters by 0.9% in the 4th quarter. HighTower Advisors LLC now owns 11,349 shares of the business services provider’s stock worth $1,821,000 after buying an additional 102 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Thomson Reuters in the 4th quarter worth $874,000. AGF Management Ltd. raised its position in shares of Thomson Reuters by 60.7% during the 4th quarter. AGF Management Ltd. now owns 462,241 shares of the business services provider’s stock valued at $74,698,000 after buying an additional 174,546 shares in the last quarter. Finally, Vista Investment Partners II LLC bought a new position in Thomson Reuters in the fourth quarter valued at $2,640,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

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.