Thomson Reuters (NASDAQ:TRI) Price Target Raised to $97.00

Thomson Reuters (NASDAQ:TRI) had its price objective upped by Wells Fargo & Company from $87.00 to $97.00 in a report published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts also recently commented on TRI. Barclays decreased their price target on shares of Thomson Reuters from $210.00 to $170.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Royal Bank Of Canada raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $126.00 price objective for the company in a research report on Tuesday, February 10th. Weiss Ratings cut shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research report on Friday, February 6th. Finally, Canadian Imperial Bank of Commerce set a $183.00 price objective on shares of Thomson Reuters and gave the stock an “outperformer” rating in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.54.

Thomson Reuters Trading Down 0.5%

TRI stock opened at $92.94 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.64 and a current ratio of 0.60. The company’s 50-day simple moving average is $94.16 and its 200 day simple moving average is $115.08. Thomson Reuters has a 52 week low of $79.71 and a 52 week high of $218.42. The company has a market capitalization of $40.54 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.38 and a beta of 0.80.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the company posted $1.12 earnings per share. Thomson Reuters’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Thomson Reuters will post 4.47 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a $0.655 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.8%. Thomson Reuters’s dividend payout ratio is 77.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TRI. Empowered Funds LLC bought a new position in shares of Thomson Reuters in the fourth quarter worth about $30,000. Cullen Frost Bankers Inc. raised its holdings in Thomson Reuters by 50.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock valued at $39,000 after buying an additional 83 shares during the last quarter. Timmons Wealth Management LLC bought a new position in Thomson Reuters in the 4th quarter valued at approximately $42,000. Montag A & Associates Inc. bought a new position in Thomson Reuters in the 4th quarter valued at approximately $43,000. Finally, Westside Investment Management Inc. raised its holdings in Thomson Reuters by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock valued at $52,000 after buying an additional 169 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

About Thomson Reuters

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.