Wells Fargo & Company Lowers Thomson Reuters (NYSE:TRI) Price Target to $187.00

Key Points

• Wells Fargo & Company lowered the price target for Thomson Reuters from $213.00 to $187.00, maintaining an "equal weight" rating on the stock.
• Other analysts have had mixed views, with CIBC raising their target to $201.00, while Royal Bank of Canada reduced theirs to $208.00, indicating a somewhat uncertain outlook on the stock’s performance.
• Thomson Reuters shares recently traded at $182.00, with a market capitalization of $82.02 billion and an average price target consensus of $189.70.

Thomson Reuters (NYSE:TRI - Free Report) TSE: TRI had its price objective trimmed by Wells Fargo & Company from $213.00 to $187.00 in a report published on Thursday, Marketbeat Ratings reports. The brokerage currently has an equal weight rating on the business services provider's stock.

Other research analysts also recently issued research reports about the company. Barclays upped their target price on Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Royal Bank Of Canada reduced 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. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. Bank of America started coverage on Thomson Reuters in a report on Thursday, April 10th. They set a "neutral" rating and a $180.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $194.20.

Thomson Reuters Trading Down 0.9%

TRI traded down $1.60 during midday trading on Thursday, reaching $179.96. 1,329,246 shares of the company's stock traded hands, compared to its average volume of 858,698. The firm has a fifty day moving average of $198.75 and a two-hundred day moving average of $184.95. The stock has a market capitalization of $81.10 billion, a price-to-earnings ratio of 36.80, a P/E/G ratio of 5.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. Thomson Reuters has a 52 week low of $151.60 and a 52 week high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its 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. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The business's revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that Thomson Reuters will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, August 19th. Thomson Reuters's dividend payout ratio (DPR) is currently 49.69%.

Institutional Trading of Thomson Reuters

Several institutional investors have recently added to or reduced their stakes in TRI. Brighton Jones LLC purchased a new stake in Thomson Reuters during the 4th quarter valued at $448,000. Invesco Ltd. boosted its stake in Thomson Reuters by 5.6% during 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 during the last quarter. Renaissance Technologies LLC boosted its stake in Thomson Reuters by 16.4% during 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 during the last quarter. Scotia Capital Inc. boosted its stake in Thomson Reuters by 11.3% during 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 during the last quarter. Finally, Barclays PLC boosted its stake in Thomson Reuters by 49.9% during 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 during the last quarter. 17.31% of the stock is currently 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.