Thomson Reuters Co. (NYSE:TRI) Receives $193.00 Average Price Target from Analysts

Key Points

• Thomson Reuters Co. has received a consensus rating of "Hold" from eleven brokerages, with four recommending a buy and an average price target of $193.00.
• Significant institutional investors have recently increased their holdings in Thomson Reuters, with Mackenzie Financial Corp raising its stake by 139.5% in the last quarter.
• The stock is currently trading down 9.9%, opening at $179.97, with a market cap of $81.10 billion and a P/E ratio of 36.80.

Shares of Thomson Reuters Co. (NYSE:TRI - Get Free Report) TSE: TRI have received a consensus rating of "Hold" from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $194.20.

A number of equities research analysts have commented on TRI shares. Royal Bank Of Canada lowered their target price on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a report on Thursday. CIBC increased their target price on Thomson Reuters from $174.00 to $201.00 and gave the company an "outperformer" rating in a report on Monday, July 21st. Barclays increased their target price on Thomson Reuters from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. Finally, Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and increased their target price for the company from $188.00 to $200.00 in a report on Wednesday.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TRI. Mackenzie Financial Corp raised its position in shares of Thomson Reuters by 139.5% in the 4th quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after buying an additional 4,977,006 shares during the period. TD Asset Management Inc raised its position in shares of Thomson Reuters by 15.7% in the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock worth $951,477,000 after buying an additional 750,063 shares during the period. Millennium Management LLC increased its holdings in Thomson Reuters by 365.6% in the 1st quarter. Millennium Management LLC now owns 894,074 shares of the business services provider's stock valued at $154,475,000 after purchasing an additional 702,036 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Thomson Reuters by 36.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,588,508 shares of the business services provider's stock valued at $274,462,000 after purchasing an additional 421,279 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Thomson Reuters by 13.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,997,516 shares of the business services provider's stock valued at $405,266,000 after purchasing an additional 240,062 shares in the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Price Performance

Shares of TRI traded down $1.60 on Thursday, reaching $179.96. The stock had a trading volume of 1,329,246 shares, compared to its average volume of 858,698. The firm has a market capitalization of $81.10 billion, a PE ratio of 36.80, a PEG ratio of 5.67 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $198.75 and a 200 day moving average of $185.09. Thomson Reuters has a twelve month low of $151.60 and a twelve month high of $218.42.

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

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Thomson Reuters's dividend payout ratio is currently 65.75%.

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.