Royal Bank Of Canada Issues Positive Forecast for Thomson Reuters (NASDAQ:TRI) Stock Price

Thomson Reuters (NASDAQ:TRI) had its price target increased by research analysts at Royal Bank Of Canada from $124.00 to $130.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target suggests a potential upside of 10.85% from the stock’s previous close.

Several other research firms have also weighed in on TRI. Morgan Stanley set a $110.00 price objective on Thomson Reuters and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Wells Fargo & Company set a $85.00 target price on Thomson Reuters and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. Jefferies Financial Group began coverage on Thomson Reuters in a research note on Tuesday, October 20th. They set a “buy” rating and a $130.00 target price for the company. Weiss Ratings raised Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 15th. Finally, TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research note on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Thomson Reuters has a consensus rating of “Moderate Buy” and a consensus price target of $127.85.

Thomson Reuters Trading Up 0.7%

Shares of TRI traded up $0.86 during trading hours on Wednesday, hitting $117.27. 246,788 shares of the stock were exchanged, compared to its average volume of 2,141,292. Thomson Reuters has a fifty-two week low of $76.28 and a fifty-two week high of $160.51. The business has a 50-day moving average of $104.04 and a 200-day moving average of $97.57.

Thomson Reuters (NASDAQ:TRI) last released its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.03. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 EPS. On average, sell-side analysts predict that Thomson Reuters will post 4.46 EPS for the current year.

Hedge Funds Weigh In On Thomson Reuters

A number of hedge funds have recently added to or reduced their stakes in TRI. Western Wealth Management LLC bought a new stake in Thomson Reuters during the 1st quarter worth approximately $48,000. GK Wealth Management LLC purchased a new position in shares of Thomson Reuters during the third quarter valued at approximately $53,000. Continuum Advisory LLC bought a new stake in Thomson Reuters during the second quarter worth $45,000. SBI Securities Co. Ltd. grew its holdings in Thomson Reuters by 66.9% during the second quarter. SBI Securities Co. Ltd. now owns 786 shares of the company’s stock worth $64,000 after buying an additional 315 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Thomson Reuters by 135.8% during the first quarter. Fifth Third Bancorp now owns 823 shares of the company’s stock worth $74,000 after buying an additional 474 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

About Thomson Reuters

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.