Scotia Capital Inc. Buys 5,881 Shares of Thomson Reuters Co. (NYSE:TRI)

Key Points

• Scotia Capital Inc. increased its stake in Thomson Reuters Co. by 2.4%, acquiring 5,881 additional shares and bringing its total ownership to approximately 250,380 shares valued at $43.3 million.
• JPMorgan Chase & Co. and Royal Bank Of Canada raised their price targets for Thomson Reuters, with the latter increasing its target from $185 to $215 along with an upgrade to a "sector perform" rating.
• Thomson Reuters reported earnings per share of $1.12 for the last quarter, which exceeded analyst expectations of $1.05, contributing to a revenue increase of 0.8% year-over-year.

Scotia Capital Inc. raised its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,380 shares of the business services provider's stock after acquiring an additional 5,881 shares during the quarter. Scotia Capital Inc. owned approximately 0.06% of Thomson Reuters worth $43,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TRI. Cullen Frost Bankers Inc. boosted its position in shares of Thomson Reuters by 772.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider's stock worth $27,000 after purchasing an additional 139 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Thomson Reuters in the 4th quarter worth $29,000. SBI Securities Co. Ltd. boosted its position in shares of Thomson Reuters by 41.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider's stock worth $41,000 after purchasing an additional 69 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Thomson Reuters by 25.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock worth $71,000 after purchasing an additional 84 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Thomson Reuters by 42.8% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the business services provider's stock worth $84,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 17.31% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TRI. JPMorgan Chase & Co. raised their price objective on Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Royal Bank Of Canada raised their price objective on Thomson Reuters from $185.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Monday, July 28th. Bank of America began coverage on Thomson Reuters in a research report on Thursday, April 10th. They issued a "neutral" rating and a $180.00 price objective for the company. Barclays raised their price objective on Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, National Bankshares reissued an "outperform" rating on shares of Thomson Reuters in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $193.00.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $201.08 on Friday. The firm has a market capitalization of $90.60 billion, a price-to-earnings ratio of 41.12, a price-to-earnings-growth ratio of 5.67 and a beta of 0.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The business has a fifty day moving average of $199.44 and a 200 day moving average of $184.11. Thomson Reuters Co. has a 1 year low of $150.01 and a 1 year high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.07. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The company's revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. As a group, research analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

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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