Thomson Reuters (NYSE:TRI) Given New $163.00 Price Target at JPMorgan Chase & Co.

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $152.00 to $163.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 1.06% from the stock’s current price.

TRI has been the topic of a number of other research reports. Canaccord Genuity Group increased their price target on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a report on Friday. Royal Bank of Canada increased their price target on shares of Thomson Reuters from $153.00 to $156.00 and gave the company a “sector perform” rating in a report on Tuesday, April 30th. Barclays upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $150.00 to $180.00 in a report on Thursday, March 14th. National Bank Financial upgraded shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 23rd. Finally, Scotiabank increased their price target on shares of Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Hold” and an average target price of $164.31.

Thomson Reuters Price Performance

Shares of TRI opened at $164.74 on Friday. The stock has a market cap of $74.35 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 4.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. Thomson Reuters has a fifty-two week low of $117.46 and a fifty-two week high of $166.11. The firm’s 50-day simple moving average is $155.38 and its two-hundred day simple moving average is $146.37.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.43%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. Analysts anticipate that Thomson Reuters will post 3.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its position in Thomson Reuters by 3.9% in the first quarter. Signaturefd LLC now owns 7,433 shares of the business services provider’s stock worth $1,158,000 after acquiring an additional 281 shares during the period. FDx Advisors Inc. raised its position in Thomson Reuters by 22.5% in the first quarter. FDx Advisors Inc. now owns 3,757 shares of the business services provider’s stock worth $585,000 after acquiring an additional 691 shares during the period. GSA Capital Partners LLP bought a new position in Thomson Reuters in the first quarter worth approximately $431,000. FORA Capital LLC bought a new position in Thomson Reuters in the first quarter worth approximately $610,000. Finally, Tobam raised its position in Thomson Reuters by 4.3% in the first quarter. Tobam now owns 43,686 shares of the business services provider’s stock worth $6,799,000 after acquiring an additional 1,819 shares during the period. 17.31% of the stock is currently owned by institutional investors.

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.