Thomson Reuters (NYSE:TRI) Price Target Raised to $213.00 at Wells Fargo & Company

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective boosted by Wells Fargo & Company from $187.00 to $213.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

TRI has been the subject of several other reports. TD Securities boosted their target price on shares of Thomson Reuters from $177.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 29th. Wall Street Zen lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Bank of America started coverage on Thomson Reuters in a report on Thursday, April 10th. They issued a “neutral” rating and a $180.00 target price on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Thomson Reuters from $182.00 to $185.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $187.30.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock opened at $196.23 on Monday. The firm’s 50-day simple moving average is $187.67 and its 200-day simple moving average is $175.20. Thomson Reuters has a 1 year low of $150.01 and a 1 year high of $199.11. The firm has a market cap of $88.40 billion, a PE ratio of 40.13, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results 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 company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the business earned $1.11 earnings per share. Thomson Reuters’s revenue was up .8% compared to the same quarter last year. Equities analysts forecast that Thomson Reuters will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were given a $0.595 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.38 annualized dividend and a yield of 1.21%. Thomson Reuters’s dividend payout ratio is currently 49.69%.

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRI. Brighton Jones LLC purchased a new position in shares of Thomson Reuters during the 4th quarter valued at about $448,000. Savant Capital LLC raised its position in Thomson Reuters by 7.9% during the 4th quarter. Savant Capital LLC now owns 2,733 shares of the business services provider’s stock valued at $438,000 after purchasing an additional 199 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Thomson Reuters by 8.5% during the fourth quarter. Sanctuary Advisors LLC now owns 4,913 shares of the business services provider’s stock valued at $834,000 after buying an additional 383 shares during the period. CIBC Asset Management Inc grew its position in shares of Thomson Reuters by 52.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock worth $185,011,000 after buying an additional 395,481 shares during the period. Finally, Truist Financial Corp boosted its stake in Thomson Reuters by 5.6% in the 4th quarter. Truist Financial Corp now owns 9,496 shares of the business services provider’s stock worth $1,523,000 after purchasing an additional 500 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other 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.