Thomson Reuters (NYSE:TRI) Price Target Cut to $208.00 by Analysts at Royal Bank Of Canada

Key Points

• The price target for Thomson Reuters has been reduced by the Royal Bank of Canada from $215.00 to $208.00, indicating a potential upside of 14.81% from the last closing price.
• Other analysts have differing ratings and target prices, with Scotiabank upgrading the stock to "sector outperform" and JPMorgan increasing their target to $178.00.
• Thomson Reuters reported quarterly earnings of $0.87 per share, surpassing expectations, with a revenue increase of 2.6% year-over-year to $1.81 billion.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI had its price objective dropped by investment analysts at Royal Bank Of Canada from $215.00 to $208.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "sector perform" rating on the business services provider's stock. Royal Bank Of Canada's target price would indicate a potential upside of 14.81% from the stock's previous close.

Other equities analysts have also issued reports about the company. Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. TD Securities restated a "hold" rating on shares of Thomson Reuters in a research note on Tuesday, July 15th. Finally, CIBC lifted their price objective on shares of Thomson Reuters from $174.00 to $201.00 and gave the company an "outperformer" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $189.70.

Thomson Reuters Trading Up 0.7%

TRI stock traded up $1.20 during midday trading on Thursday, reaching $181.17. The company's stock had a trading volume of 769,647 shares, compared to its average volume of 848,508. The firm has a market capitalization of $81.64 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 5.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. Thomson Reuters has a 1 year low of $151.60 and a 1 year high of $218.42. The stock has a fifty day simple moving average of $199.39 and a two-hundred day simple moving average of $184.67.

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 during 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 period in the prior year, the business posted $0.85 EPS. On average, equities research analysts predict that Thomson Reuters will post 3.89 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TRI. Mackenzie Financial Corp boosted its stake 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 valued at $1,370,564,000 after purchasing an additional 4,977,006 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Thomson Reuters by 3.0% in the second quarter. TD Asset Management Inc now owns 5,681,469 shares of the business services provider's stock valued at $1,140,208,000 after purchasing an additional 166,977 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Thomson Reuters by 1.8% in the first quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider's stock valued at $945,069,000 after acquiring an additional 94,758 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Thomson Reuters by 1.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider's stock worth $437,985,000 after purchasing an additional 44,898 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in Thomson Reuters by 1.0% during the first quarter. 1832 Asset Management L.P. now owns 1,665,117 shares of the business services provider's stock worth $287,699,000 after acquiring an additional 17,223 shares in the last quarter. 17.31% of the stock is owned by hedge funds and other 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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