Thomson Reuters (NASDAQ:TRI) Given New $130.00 Price Target at RBC Dominion Securities

Key Points

• RBC Dominion Securities raised Thomson Reuters’ price target from $124 to $130 and maintained an “outperform” rating, implying approximately 11.8% upside from the reported $116.28 share price.
• Analyst sentiment remains positive, with 12 Buy ratings and six Holds; MarketBeat reports a consensus “Moderate Buy” rating and an average target price of $127.99.
• Thomson Reuters recently exceeded quarterly expectations, reporting $0.99 in earnings per share versus a $0.96 consensus estimate and $1.93 billion in revenue, up 9.5% year over year.

Thomson Reuters (NASDAQ:TRI - Get Free Report) had its price objective lifted by equities researchers at RBC Dominion Securities from $124.00 to $130.00 in a report issued on Wednesday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. RBC Dominion Securities's target price suggests a potential upside of 11.80% from the stock's current price.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada lifted their target price on Thomson Reuters from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday. Canaccord Genuity Group reduced their price target on Thomson Reuters from $132.50 to $129.50 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Scotia decreased their price objective on Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a research note on Thursday, August 6th. TD Securities reaffirmed a "buy" rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Finally, Wells Fargo & Company set a $85.00 price objective on Thomson Reuters and gave the company an "equal weight" rating in a research note on Tuesday, June 30th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Thomson Reuters currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.99.

Thomson Reuters Stock Performance

NASDAQ:TRI traded down $0.14 during mid-day trading on Wednesday, reaching $116.28. The company's stock had a trading volume of 743,585 shares, compared to its average volume of 2,143,540. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The stock has a market cap of $50.39 billion, a P/E ratio of 30.84, a PEG ratio of 2.36 and a beta of 0.75. The firm's fifty day moving average price is $104.04 and its two-hundred day moving average price is $97.57. Thomson Reuters has a 12-month low of $76.28 and a 12-month high of $160.51.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. On average, equities analysts forecast that Thomson Reuters will post 4.46 EPS for the current fiscal year.

Institutional Trading of Thomson Reuters

Several institutional investors have recently made changes to their positions in TRI. Canada Pension Plan Investment Board purchased a new position in Thomson Reuters in the 2nd quarter worth approximately $107,223,000. Bank of America Corp DE bought a new stake in shares of Thomson Reuters during the second quarter valued at approximately $104,104,000. The Manufacturers Life Insurance Company bought a new stake in shares of Thomson Reuters during the second quarter valued at approximately $102,215,000. Cibc World Market Inc. bought a new stake in shares of Thomson Reuters during the second quarter valued at approximately $100,711,000. Finally, BlackRock Inc. purchased a new position in shares of Thomson Reuters in the second quarter worth $91,548,000. Hedge funds and other institutional investors own 17.31% of the company's stock.

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.

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