Thomson Reuters (NYSE:TRI) Price Target Raised to $201.00 at CIBC

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective increased by CIBC from $174.00 to $201.00 in a report issued on Monday,Benzinga reports. They currently have an outperformer rating on the business services provider’s stock.

TRI has been the subject of a number of other reports. Barclays lifted their price objective on Thomson Reuters from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. TD Securities restated a “hold” rating on shares of Thomson Reuters in a report on Tuesday, July 15th. National Bankshares restated an “outperform” rating on shares of Thomson Reuters in a report on Thursday, July 10th. Scotiabank restated a “sector perform” rating and set a $188.00 target price on shares of Thomson Reuters in a report on Friday, May 2nd. Finally, Bank of America initiated coverage on Thomson Reuters in a report on Thursday, April 10th. They set a “neutral” rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $190.00.

Thomson Reuters Stock Down 2.8%

TRI opened at $203.43 on Monday. The business has a 50 day moving average price of $197.21 and a 200 day moving average price of $181.22. Thomson Reuters has a twelve month low of $150.01 and a twelve month high of $218.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The firm has a market cap of $91.66 billion, a P/E ratio of 41.60, a price-to-earnings-growth ratio of 5.67 and a beta of 0.76.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. Research analysts forecast that Thomson Reuters will post 3.89 EPS for the current year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.595 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.17%. Thomson Reuters’s dividend payout ratio (DPR) is currently 49.69%.

Hedge Funds Weigh In On Thomson Reuters

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its stake in Thomson Reuters by 772.2% in the first quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 139 shares during the period. Investment Management Corp VA ADV purchased a new position in Thomson Reuters during the 4th quarter valued at about $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Thomson Reuters in the 2nd quarter worth approximately $37,000. SBI Securities Co. Ltd. lifted its position in Thomson Reuters by 41.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 69 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Thomson Reuters by 25.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider’s stock worth $71,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

About Thomson Reuters

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.