JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Thomson Reuters (NYSE:TRI) Stock

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $177.00 to $178.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 3.53% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on TRI. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a report on Saturday, April 19th. The Goldman Sachs Group upped their target price on Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Wells Fargo & Company lifted their price target on Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. TD Securities raised their target price on shares of Thomson Reuters from $177.00 to $182.00 and gave the company a “sector perform” rating in a report on Tuesday, April 29th. Finally, Canaccord Genuity Group upped their price target on shares of Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $183.70.

Thomson Reuters Trading Down 0.7 %

Shares of TRI stock opened at $184.51 on Friday. Thomson Reuters has a 1-year low of $150.01 and a 1-year high of $189.89. 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’s fifty day moving average price is $175.08 and its 200 day moving average price is $169.22. The firm has a market capitalization of $83.11 billion, a PE ratio of 37.73, a P/E/G ratio of 5.67 and a beta of 0.75.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.05 by $0.07. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the business earned $1.11 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that Thomson Reuters will post 3.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Thomson Reuters

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. increased its holdings in Thomson Reuters by 772.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider’s stock worth $27,000 after purchasing an additional 139 shares during the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Thomson Reuters in the 4th quarter valued at about $26,000. Curio Wealth LLC bought a new position in shares of Thomson Reuters during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new position in Thomson Reuters in the fourth quarter worth about $27,000. Finally, Investment Management Corp VA ADV bought a new stake in Thomson Reuters in the fourth quarter valued at about $29,000. Hedge funds and other 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.