Analysts Set Thomson Reuters Co. (NYSE:TRI) Price Target at $129.86

Thomson Reuters Co. (NYSE:TRI – Get Rating) (TSE:TRI) has been given a consensus rating of “Hold” by the fourteen brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $129.86.

A number of brokerages have recently commented on TRI. Exane BNP Paribas downgraded Thomson Reuters from a “neutral” rating to an “underperform” rating in a research report on Thursday, December 1st. National Bank Financial downgraded Thomson Reuters from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, February 28th. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, February 10th. The Goldman Sachs Group upped their price target on Thomson Reuters from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Tuesday, January 10th. Finally, TD Securities downgraded Thomson Reuters from a “buy” rating to a “hold” rating in a report on Thursday, February 16th.

Thomson Reuters Stock Up 0.4 %

Shares of NYSE:TRI opened at $124.33 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $58.94 billion, a PE ratio of 43.17, a price-to-earnings-growth ratio of 3.08 and a beta of 0.58. The firm’s 50-day moving average is $120.09 and its two-hundred day moving average is $113.34. Thomson Reuters has a 1 year low of $91.55 and a 1 year high of $125.32.

Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) last issued its quarterly earnings results on Thursday, February 9th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. Thomson Reuters had a net margin of 21.16% and a return on equity of 9.58%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts predict that Thomson Reuters will post 3.31 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 16th. Stockholders of record on Thursday, February 23rd were issued a $0.49 dividend. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.32. This represents a $1.96 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Wednesday, February 22nd. Thomson Reuters’s dividend payout ratio is presently 68.06%.

Institutional Investors Weigh In On Thomson Reuters

Several large investors have recently modified their holdings of TRI. Bank of Montreal Can raised its stake in shares of Thomson Reuters by 45.0% during the third quarter. Bank of Montreal Can now owns 7,593,951 shares of the business services provider’s stock worth $785,341,000 after purchasing an additional 2,357,199 shares during the last quarter. Vanguard Group Inc. raised its position in Thomson Reuters by 2.8% in the third quarter. Vanguard Group Inc. now owns 5,584,932 shares of the business services provider’s stock worth $573,125,000 after acquiring an additional 150,880 shares in the last quarter. FMR LLC raised its position in Thomson Reuters by 2.7% in the second quarter. FMR LLC now owns 4,351,171 shares of the business services provider’s stock worth $453,608,000 after acquiring an additional 114,071 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Thomson Reuters by 6.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,000,881 shares of the business services provider’s stock worth $307,650,000 after acquiring an additional 174,926 shares in the last quarter. Finally, Bishop Rock Capital L.P. raised its position in Thomson Reuters by 9,749.8% in the second quarter. Bishop Rock Capital L.P. now owns 2,634,429 shares of the business services provider’s stock worth $25,280,000 after acquiring an additional 2,607,683 shares in the last quarter. 20.84% of the stock is owned by institutional investors and hedge funds.

About Thomson Reuters

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Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following segments: Legal Professionals, Corporates, Tax and Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment provides research and workflow products to law firms and government.