Thomson Reuters (NYSE:TRI) Raised to "Overweight" at Wells Fargo & Company

Key Points

• Wells Fargo & Company upgraded Thomson Reuters from an "equal weight" rating to an "overweight" rating, setting a price target of $212.00, indicating a potential upside of 22.15% from the previous close.
• Multiple analysts have raised their ratings on Thomson Reuters, with a consensus target price of $204.40 and six analysts rating it as a Buy.
• Thomson Reuters reported $1.81 billion in revenue for the most recent quarter, exceeding expectations, with an EPS of $0.87 surpassing the consensus estimate by $0.04.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI was upgraded by investment analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $212.00 price target on the business services provider's stock, up from their prior price target of $187.00. Wells Fargo & Company's target price suggests a potential upside of 22.55% from the company's current price.

TRI has been the subject of a number of other research reports. Canaccord Genuity Group boosted their target price on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. Scotiabank raised shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $188.00 to $200.00 in a research report on Wednesday, August 6th. CIBC raised shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 19th. TD Securities raised shares of Thomson Reuters from a "hold" rating to a "buy" rating and boosted their target price for the company from $275.00 to $285.00 in a research report on Thursday, August 28th. Finally, Royal Bank Of Canada reduced their target price on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Thomson Reuters presently has an average rating of "Moderate Buy" and an average price target of $202.82.

Thomson Reuters Stock Performance

TRI stock traded down $0.52 during midday trading on Tuesday, reaching $172.99. 617,589 shares of the company were exchanged, compared to its average volume of 896,501. 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 50-day moving average price of $187.80 and a two-hundred day moving average price of $185.46. Thomson Reuters has a one year low of $151.60 and a one year high of $218.42. The firm has a market capitalization of $77.96 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74.

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

Institutional Investors Weigh In On Thomson Reuters

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp lifted its position in Thomson Reuters by 139.5% during the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after purchasing an additional 4,977,006 shares during the period. TD Asset Management Inc lifted its position in Thomson Reuters by 3.0% during the second quarter. TD Asset Management Inc now owns 5,681,469 shares of the business services provider's stock worth $1,140,208,000 after purchasing an additional 166,977 shares during the period. Vanguard Group Inc. lifted its position in Thomson Reuters by 2.6% during the second quarter. Vanguard Group Inc. now owns 5,617,231 shares of the business services provider's stock worth $1,129,591,000 after purchasing an additional 140,631 shares during the period. TLT Family Holdco ULC bought a new stake in Thomson Reuters during the second quarter worth about $865,442,000. Finally, LCC Family Corp. acquired a new position in Thomson Reuters during the second quarter worth about $813,253,000. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Company Profile

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.