Royal Bank Of Canada Lowers Thomson Reuters (NYSE:TRI) Price Target to $182.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target dropped by analysts at Royal Bank Of Canada from $208.00 to $182.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the business services provider’s stock. Royal Bank Of Canada’s price target points to a potential upside of 17.81% from the stock’s previous close.

TRI has been the topic of several other reports. Wells Fargo & Company upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $187.00 to $212.00 in a report on Tuesday, September 9th. Canaccord Genuity Group upped their price objective on shares of Thomson Reuters from $181.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. The Goldman Sachs Group set a $186.00 price objective on shares of Thomson Reuters and gave the stock a “buy” rating in a report on Wednesday, October 15th. Huber Research upgraded shares of Thomson Reuters to an “overweight” rating in a report on Monday, October 20th. Finally, CIBC set a $198.00 price objective on shares of Thomson Reuters and gave the stock an “outperform” rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Thomson Reuters presently has an average rating of “Moderate Buy” and a consensus price target of $200.00.

Thomson Reuters Stock Performance

NYSE:TRI opened at $154.49 on Wednesday. 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 firm has a market capitalization of $69.00 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 5.67 and a beta of 0.74. The company’s 50-day moving average is $163.85 and its two-hundred day moving average is $182.23. Thomson Reuters has a 1-year low of $149.47 and a 1-year high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Thomson Reuters’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. Analysts forecast that Thomson Reuters will post 3.89 EPS for the current year.

Institutional Investors Weigh In On Thomson Reuters

A number of large investors have recently modified their holdings of the company. TD Asset Management Inc increased its position in shares of Thomson Reuters by 3.0% in the 2nd quarter. TD Asset Management Inc now owns 5,681,469 shares of the business services provider’s stock valued at $1,140,208,000 after purchasing an additional 166,977 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Thomson Reuters by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,617,231 shares of the business services provider’s stock valued at $1,129,591,000 after purchasing an additional 140,631 shares during the last quarter. TLT Family Holdco ULC purchased a new stake in shares of Thomson Reuters in the 2nd quarter valued at approximately $865,442,000. LCC Family Corp. purchased a new stake in shares of Thomson Reuters in the 2nd quarter valued at approximately $813,253,000. Finally, SEG Family Corp. purchased a new stake in shares of Thomson Reuters in the 2nd quarter valued at approximately $659,930,000. 17.31% of the stock is 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.