Canaccord Genuity Group Increases Thomson Reuters (NYSE:TRI) Price Target to $175.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective upped by Canaccord Genuity Group from $164.00 to $175.00 in a research note issued to investors on Friday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the business services provider’s stock.

TRI has been the subject of several other reports. Royal Bank of Canada raised their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. The Goldman Sachs Group raised their price objective on shares of Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company boosted 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 note on Friday. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Scotiabank upped their price target on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Thomson Reuters has a consensus rating of “Hold” and a consensus target price of $182.09.

Thomson Reuters Trading Down 0.2 %

Thomson Reuters 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 firm’s 50 day moving average price is $163.98 and its two-hundred day moving average price is $165.41. The firm has a market cap of $79.45 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 5.59 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.78% and a net margin of 30.45%. On average, research analysts predict that Thomson Reuters will post 3.96 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

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

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRI. FMR LLC grew its position in Thomson Reuters by 0.8% in the third quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock worth $1,229,716,000 after acquiring an additional 57,854 shares in the last quarter. Fiera Capital Corp boosted its holdings in Thomson Reuters by 1.0% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 buying an additional 255,387 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Thomson Reuters by 52.2% in 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 buying an additional 395,481 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of 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 in the last quarter. Institutional investors 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.