Thomson Reuters (NYSE:TRI) Given New $156.00 Price Target at CIBC

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price increased by CIBC from $152.00 to $156.00 in a report published on Friday, BayStreet.CA reports. CIBC currently has a neutral rating on the business services provider’s stock.

TRI has been the subject of a number of other research reports. Barclays raised shares of Thomson Reuters from an equal weight rating to an overweight rating and increased their target price for the stock from $150.00 to $180.00 in a research report on Thursday, March 14th. Royal Bank of Canada upped their price target on shares of Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a research report on Tuesday. Scotiabank raised their price objective on Thomson Reuters from $142.00 to $159.00 and gave the company a sector perform rating in a research report on Friday, February 9th. National Bank Financial raised Thomson Reuters from an underperform rating to a sector perform rating in a research report on Tuesday, April 23rd. Finally, TD Securities increased their target price on Thomson Reuters from $210.00 to $225.00 and gave the company a hold rating in a research note on Wednesday, March 13th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $164.31.

Thomson Reuters Trading Up 1.1 %

Shares of TRI traded up $1.78 during mid-day trading on Friday, hitting $164.74. The company had a trading volume of 619,405 shares, compared to its average volume of 362,043. Thomson Reuters has a 1-year low of $117.46 and a 1-year high of $166.11. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. The business’s 50-day simple moving average is $155.25 and its 200-day simple moving average is $146.11. The stock has a market cap of $74.35 billion, a PE ratio of 31.38, a P/E/G ratio of 4.24 and a beta of 0.65.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a return on equity of 15.43% and a net margin of 34.87%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts forecast that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.16 dividend on an annualized basis and a yield of 1.31%. Thomson Reuters’s dividend payout ratio is currently 41.33%.

Institutional Investors Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently modified their holdings of TRI. Trust Co. of Vermont bought a new stake in shares of Thomson Reuters during the 3rd quarter valued at about $27,000. FinTrust Capital Advisors LLC bought a new stake in shares of Thomson Reuters during the 3rd quarter valued at about $28,000. Pacifica Partners Inc. grew its position in shares of Thomson Reuters by 162.0% during the 4th quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock valued at $34,000 after buying an additional 149 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Thomson Reuters during the 4th quarter valued at about $37,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of Thomson Reuters during the 4th quarter valued at about $38,000. Institutional investors own 17.31% of the company’s stock.

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.