Bank of America Issues Positive Forecast for Thomson Reuters (NYSE:TRI) Stock Price

Key Points

• Bank of America raised its price target on Thomson Reuters from $100 to $115 and kept a "neutral" rating, implying roughly a 10.9% upside from the prior close.
• Brokerage consensus remains positive with 11 Buys and 3 Holds (average rating "Moderate Buy") and a consensus target of $151.42, even as TRI shares traded down about 7% to $103.70.
• Thomson Reuters slightly beat quarterly EPS estimates ($1.07 vs. $1.06), reported revenue up 5.2% year-over-year to $2.0B, and has a market cap around $46.2B with a 52-week range of $79.71–$218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI had its price target boosted by investment analysts at Bank of America from $100.00 to $115.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the business services provider's stock. Bank of America's price target would indicate a potential upside of 10.90% from the company's previous close.

A number of other research firms have also issued reports on TRI. TD Securities restated a "buy" rating on shares of Thomson Reuters in a report on Friday, February 6th. JPMorgan Chase & Co. lowered their price target on Thomson Reuters from $160.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, February 6th. UBS Group set a $131.50 price objective on Thomson Reuters in a research note on Friday, February 6th. BMO Capital Markets set a $165.00 price objective on Thomson Reuters in a research report on Friday, February 6th. Finally, The Goldman Sachs Group set a $111.00 target price on Thomson Reuters and gave the company a "buy" rating in a research note on Saturday, February 7th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $151.42.

Thomson Reuters Trading Down 7.0%

TRI stock traded down $7.82 during mid-day trading on Tuesday, reaching $103.70. 3,423,689 shares of the stock traded hands, compared to its average volume of 2,881,921. The stock's fifty day moving average is $108.80 and its 200-day moving average is $136.07. The company has a market cap of $46.15 billion, a P/E ratio of 21.21, a P/E/G ratio of 5.67 and a beta of 0.81. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Thomson Reuters has a 52-week low of $79.71 and a 52-week high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm's revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Thomson Reuters will post 3.89 earnings per share for the current year.

Institutional Investors Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in Thomson Reuters in the fourth quarter worth approximately $30,000. AlphaCore Capital LLC bought a new stake in Thomson Reuters in the second quarter worth $39,000. Cullen Frost Bankers Inc. increased its position in Thomson Reuters by 50.0% during the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider's stock worth $39,000 after buying an additional 83 shares during the last quarter. Timmons Wealth Management LLC bought a new position in Thomson Reuters during the fourth quarter valued at about $42,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Thomson Reuters in the fourth quarter worth about $43,000. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Company Profile

Thomson Reuters NYSE: TRI is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company's product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.

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