Canaccord Genuity Group Issues Positive Forecast for Thomson Reuters (NYSE:TRI) Stock Price

Key Points

• Canaccord Genuity Group has raised its price target for Thomson Reuters from $181.00 to $182.00, indicating a potential upside of 0.24% from the current stock price.
• Thomson Reuters recently reported quarterly earnings of $0.87 per share, surpassing estimates by $0.04, with a revenue of $1.81 billion, up 2.6% year-over-year.
• The consensus rating for Thomson Reuters is currently a "Hold," with one sell rating, seven hold ratings, and four buy ratings from various analysts.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI had its price target upped by equities research analysts at Canaccord Genuity Group from $181.00 to $182.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the business services provider's stock. Canaccord Genuity Group's price target suggests a potential upside of 0.24% from the stock's current price.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Wells Fargo & Company lowered their price target on Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating on the stock in a research report on Thursday. Scotiabank raised Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $188.00 to $200.00 in a research report on Wednesday. Royal Bank Of Canada lowered their price target on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research report on Thursday. Finally, TD Securities lowered their price target on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Thomson Reuters has an average rating of "Hold" and a consensus price target of $194.20.

Thomson Reuters Stock Up 0.9%

TRI traded up $1.59 on Thursday, hitting $181.56. 1,778,870 shares of the company were exchanged, compared to its average volume of 855,538. The stock's fifty day moving average is $199.39 and its 200-day moving average is $184.67. Thomson Reuters has a 12 month low of $151.60 and a 12 month high of $218.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The company has a market cap of $81.82 billion, a PE ratio of 37.13, a PEG ratio of 5.67 and a beta of 0.77.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business's revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that Thomson Reuters will post 3.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Thomson Reuters

Several institutional investors have recently made changes to their positions in TRI. Brighton Jones LLC bought a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $448,000. Invesco Ltd. boosted its holdings in shares of Thomson Reuters by 5.6% in the 4th quarter. Invesco Ltd. now owns 144,229 shares of the business services provider's stock valued at $23,131,000 after purchasing an additional 7,590 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Thomson Reuters by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 24,800 shares of the business services provider's stock valued at $3,977,000 after purchasing an additional 3,500 shares in the last quarter. Scotia Capital Inc. boosted its holdings in shares of Thomson Reuters by 11.3% in the 4th quarter. Scotia Capital Inc. now owns 244,499 shares of the business services provider's stock valued at $38,795,000 after purchasing an additional 24,842 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Thomson Reuters by 49.9% in the 4th quarter. Barclays PLC now owns 53,233 shares of the business services provider's stock valued at $8,536,000 after purchasing an additional 17,717 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors.

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.

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