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

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 analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research note issued on Tuesday, MarketBeat.com reports. The brokerage currently has a $212.00 price target on the business services provider's stock. Wells Fargo & Company's target price points to a potential upside of 22.15% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. CIBC raised shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 19th. Canaccord Genuity Group lifted their price objective on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Royal Bank Of Canada decreased their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. Scotiabank upgraded shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $188.00 to $200.00 in a report on Wednesday, August 6th. Finally, TD Securities upgraded shares of Thomson Reuters from a "hold" rating to a "buy" rating and lifted their price objective for the company from $275.00 to $285.00 in a report on Thursday, August 28th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $204.40.

Thomson Reuters Price Performance

TRI stock opened at $173.56 on Tuesday. Thomson Reuters has a 12 month low of $151.60 and a 12 month high of $218.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $189.97 and a 200 day moving average price of $185.64. The stock has a market cap of $78.22 billion, a PE ratio of 35.49, a P/E/G ratio of 5.67 and a beta of 0.74.

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 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 company earned $0.85 EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Thomson Reuters will post 3.89 earnings per share for the current year.

Institutional Investors Weigh In On Thomson Reuters

Large investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its position in shares of Thomson Reuters by 148.5% in the 2nd quarter. Osaic Holdings Inc. now owns 21,944 shares of the business services provider's stock worth $4,236,000 after buying an additional 13,114 shares during the last quarter. Orion Porfolio Solutions LLC grew its position in shares of Thomson Reuters by 4.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 25,315 shares of the business services provider's stock worth $5,092,000 after buying an additional 1,051 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Thomson Reuters in the 2nd quarter worth approximately $217,000. Hudson Bay Capital Management LP purchased a new position in shares of Thomson Reuters in the 2nd quarter worth approximately $5,249,000. Finally, Public Sector Pension Investment Board grew its position in Thomson Reuters by 0.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 13,098 shares of the business services provider's stock worth $2,629,000 after purchasing an additional 100 shares during the last quarter. 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.

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