JPMorgan Chase & Co. Has Lowered Expectations for Thomson Reuters (NYSE:TRI) Stock Price

Thomson Reuters (NYSE:TRIGet Free Report) (TSE:TRI) had its target price reduced by JPMorgan Chase & Co. from $160.00 to $100.00 in a 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 target price points to a potential upside of 13.55% from the company’s previous close.

A number of other brokerages also recently commented on TRI. Huber Research raised Thomson Reuters to an “overweight” rating in a report on Monday, October 20th. BMO Capital Markets set a $165.00 target price on Thomson Reuters in a research report on Friday. The Goldman Sachs Group set a $186.00 price target on shares of Thomson Reuters and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Morgan Stanley set a $116.00 price target on shares of Thomson Reuters in a report on Friday. Finally, Scotiabank reiterated an “outperform” rating and set a $156.00 price objective (down from $189.00) on shares of Thomson Reuters in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.42.

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Thomson Reuters Price Performance

TRI opened at $88.07 on Friday. Thomson Reuters has a twelve month low of $85.02 and a twelve month high of $218.42. The firm has a market cap of $39.19 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 5.67 and a beta of 0.79. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $124.83 and a 200 day simple moving average of $150.08.

Thomson Reuters (NYSE:TRIGet Free Report) (TSE:TRI) last posted its quarterly earnings data on Thursday, February 5th. The business services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. Equities research analysts expect that Thomson Reuters will post 3.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Thomson Reuters by 4.6% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 1,414 shares of the business services provider’s stock valued at $284,000 after acquiring an additional 62 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Thomson Reuters by 30.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 309 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 73 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Thomson Reuters by 21.2% during the 3rd quarter. UMB Bank n.a. now owns 441 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 77 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of Thomson Reuters by 3.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 2,362 shares of the business services provider’s stock valued at $474,000 after buying an additional 82 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in Thomson Reuters by 50.0% in the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock worth $39,000 after acquiring an additional 83 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

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About Thomson Reuters

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Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.

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