Thomson Reuters (NYSE:TRI) Price Target Raised to $215.00

Key Points

• Royal Bank of Canada has raised its price target for Thomson Reuters from $185.00 to $215.00, indicating a potential upside of 7.06% from the stock's previous close.
• The company reported $1.12 EPS for the last quarter, surpassing analysts' expectations, but its revenue of $1.90 billion fell short of the projected $1.94 billion.
• Currently, Thomson Reuters has an average rating of "Hold" among analysts, with a consensus price target of $193.00.

Thomson Reuters (NYSE:TRI - Free Report) TSE: TRI had its price objective raised by Royal Bank Of Canada from $185.00 to $215.00 in a report published on Monday,BayStreet.CA reports. They currently have a sector perform rating on the business services provider's stock.

A number of other equities research analysts have also recently issued reports on TRI. TD Securities reissued a "hold" rating on shares of Thomson Reuters in a research report on Tuesday, July 15th. CIBC upped their price target on Thomson Reuters from $174.00 to $201.00 and gave the stock an "outperformer" rating in a research note on Monday, July 21st. Bank of America initiated coverage on Thomson Reuters in a research note on Thursday, April 10th. They issued a "neutral" rating and a $180.00 price objective on the stock. Barclays raised their price objective on Thomson Reuters from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Thomson Reuters from $177.00 to $178.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $193.00.

Thomson Reuters Stock Up 0.1%

TRI traded up $0.20 during midday trading on Monday, hitting $201.11. 194,875 shares of the company's stock traded hands, compared to its average volume of 815,934. 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 company has a market cap of $90.61 billion, a PE ratio of 41.06, a price-to-earnings-growth ratio of 5.67 and a beta of 0.76. The stock's fifty day simple moving average is $199.32 and its 200-day simple moving average is $183.60. Thomson Reuters has a one year low of $150.01 and a one year high of $218.42.

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

Institutional Trading of Thomson Reuters

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRI. Mackenzie Financial Corp grew its holdings in 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 buying an additional 4,977,006 shares during the last quarter. Norges Bank acquired a new stake in Thomson Reuters in the 4th quarter valued at approximately $148,221,000. TD Asset Management Inc grew its holdings in 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 valued at $951,477,000 after buying an additional 750,063 shares during the last quarter. Millennium Management LLC grew 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 buying an additional 702,036 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Thomson Reuters by 74.3% in the 4th quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider's stock valued at $214,236,000 after buying an additional 560,450 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

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.