Thomson Reuters (NYSE:TRI) Price Target Raised to $177.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective raised by JPMorgan Chase & Co. from $175.00 to $177.00 in a research report report published on Friday morning,BayStreet.CA reports. The firm currently has a neutral rating on the business services provider’s stock.

Several other brokerages have also recently issued reports on TRI. CIBC increased their target price on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Scotiabank raised their price objective on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research report on Friday. The Goldman Sachs Group boosted their target price on shares of Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank of Canada lifted their price objective 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. Finally, Wells Fargo & Company increased their target price on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $182.09.

Thomson Reuters Stock Performance

TRI stock opened at $176.56 on Friday. Thomson Reuters has a 1-year low of $149.14 and a 1-year high of $178.35. The business has a 50-day moving average price of $163.98 and a 200 day moving average price of $165.41. The company has a market capitalization of $79.45 billion, a P/E ratio of 36.11, a PEG ratio of 5.59 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.78%. As a group, equities research analysts forecast that Thomson Reuters will post 3.96 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Thursday, February 20th will be given a $0.595 dividend. This represents a $2.38 annualized dividend and a dividend yield of 1.35%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, February 20th. Thomson Reuters’s dividend payout ratio is presently 44.17%.

Institutional Trading of Thomson Reuters

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new stake in shares of Thomson Reuters during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new position in Thomson Reuters during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in Thomson Reuters during the 4th quarter valued at approximately $33,000. Asset Dedication LLC boosted its holdings in shares of Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 130 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Thomson Reuters in the third quarter worth $47,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

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.