Thomson Reuters (NYSE:TRI) Stock Price Expected to Rise, Scotiabank Analyst Says

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective boosted by Scotiabank from $187.00 to $188.00 in a research note issued on Friday, Marketbeat reports. The brokerage presently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price objective points to a potential upside of 6.49% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. StockNews.com raised shares of Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. CIBC boosted their target price on Thomson Reuters from $164.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Wells Fargo & Company boosted their target price on Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a report on Friday. The Goldman Sachs Group increased their price objective on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Royal Bank of Canada raised their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $182.09.

Thomson Reuters Stock Performance

Shares of TRI traded down $0.36 during mid-day trading on Friday, reaching $176.54. 202,602 shares of the company’s stock were exchanged, compared to its average volume of 348,201. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $79.44 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 5.31 and a beta of 0.73. The business’s fifty day simple moving average is $163.98 and its 200-day simple moving average is $165.41. Thomson Reuters has a 52-week low of $149.14 and a 52-week high of $178.35.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. On average, equities research analysts expect that Thomson Reuters will post 3.69 earnings per share for the current year.

Institutional Investors Weigh In On Thomson Reuters

Several large investors have recently modified their holdings of the business. FMR LLC boosted its position in Thomson Reuters by 0.8% during the third quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock valued at $1,229,716,000 after purchasing an additional 57,854 shares during the last quarter. Fiera Capital Corp increased its stake in shares of Thomson Reuters by 1.0% during the third quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock worth $458,559,000 after purchasing an additional 27,714 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Thomson Reuters by 11.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after purchasing an additional 255,387 shares during the period. CIBC Asset Management Inc increased its stake in shares of Thomson Reuters by 52.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock worth $185,011,000 after purchasing an additional 395,481 shares during the period. Finally, National Bank of Canada FI increased its stake in Thomson Reuters by 115.7% during the 3rd quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock worth $164,292,000 after acquiring an additional 516,715 shares during the period. 17.31% of the stock is currently owned by institutional investors.

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.