Bank of America Issues Positive Forecast for Thomson Reuters (NYSE:TRI) Stock Price

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target boosted by Bank of America from $100.00 to $115.00 in a report issued on Tuesday,Benzinga reports. Bank of America currently has a neutral rating on the business services provider’s stock.

TRI has been the topic of several other reports. Canadian Imperial Bank of Commerce set a $183.00 price target on Thomson Reuters and gave the stock an “outperformer” rating in a research report on Friday, January 16th. JPMorgan Chase & Co. lowered their target price on Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. BMO Capital Markets set a $165.00 target price on Thomson Reuters in a report on Friday, February 6th. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research report on Friday, February 6th. Finally, Wells Fargo & Company set a $140.00 price target on Thomson Reuters and gave the company an “overweight” rating in a report on Wednesday, February 4th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.42.

Thomson Reuters Stock Down 7.0%

TRI stock opened at $103.70 on Tuesday. The firm’s fifty day simple moving average is $108.22 and its 200-day simple moving average is $135.54. The company has a market capitalization of $46.15 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 5.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. Thomson Reuters has a 12 month low of $79.71 and a 12 month high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm 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 was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. As a group, equities research analysts forecast that Thomson Reuters will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, February 17th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s dividend payout ratio is currently 78.68%.

Hedge Funds Weigh In On Thomson Reuters

Institutional investors and hedge funds have recently modified their holdings of the business. AlphaCore Capital LLC acquired a new position in Thomson Reuters in the 2nd quarter worth about $39,000. Empowered Funds LLC acquired a new stake in Thomson Reuters in the fourth quarter valued at approximately $30,000. Cullen Frost Bankers Inc. increased its position in shares of Thomson Reuters by 50.0% in the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock valued at $39,000 after buying an additional 83 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Thomson Reuters by 30.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 309 shares of the business services provider’s stock worth $62,000 after buying an additional 73 shares during the period. Finally, Timmons Wealth Management LLC acquired a new position in shares of Thomson Reuters during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

About Thomson Reuters

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.