Thomson Reuters (NYSE:TRI) Given New $187.00 Price Target at Scotiabank

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective hoisted by Scotiabank from $182.00 to $187.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a sector outperform rating on the business services provider’s stock.

TRI has been the topic of several other research reports. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Royal Bank of Canada upped their target price on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $176.33.

Thomson Reuters Stock Performance

Shares of NYSE:TRI traded up $1.64 during trading on Wednesday, reaching $167.91. The company had a trading volume of 51,946 shares, compared to its average volume of 355,147. The stock’s fifty day moving average price is $168.71 and its 200 day moving average price is $166.61. Thomson Reuters has a fifty-two week low of $127.68 and a fifty-two week high of $176.03. The firm has a market capitalization of $75.54 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 5.55 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. Thomson Reuters’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that Thomson Reuters will post 3.71 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, November 21st. Thomson Reuters’s dividend payout ratio (DPR) is 41.46%.

Hedge Funds Weigh In On Thomson Reuters

A number of large investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in shares of Thomson Reuters by 23.8% in the first quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock valued at $2,612,000 after buying an additional 3,223 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Thomson Reuters by 874.0% in the first quarter. Bessemer Group Inc. now owns 130,744 shares of the business services provider’s stock valued at $20,351,000 after buying an additional 117,320 shares in the last quarter. &PARTNERS acquired a new stake in Thomson Reuters during the 2nd quarter valued at approximately $278,000. Quantbot Technologies LP acquired a new stake in Thomson Reuters during the 1st quarter valued at approximately $610,000. Finally, Forsta AP Fonden grew its stake in Thomson Reuters by 151.2% during the 1st quarter. Forsta AP Fonden now owns 78,588 shares of the business services provider’s stock valued at $12,242,000 after purchasing an additional 47,300 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

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.