Thomson Reuters (NYSE:TRI) Price Target Raised to $201.00 at CIBC

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target boosted by equities research analysts at CIBC from $174.00 to $201.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperformer” rating on the business services provider’s stock. CIBC’s price objective points to a potential downside of 2.38% from the stock’s current price.

TRI has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $177.00 to $178.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Wells Fargo & Company boosted their price target on Thomson Reuters from $187.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Monday, June 16th. TD Securities reissued a “hold” rating on shares of Thomson Reuters in a research note on Tuesday, July 15th. Scotiabank restated a “sector perform” rating and set a $188.00 target price on shares of Thomson Reuters in a research report on Friday, May 2nd. Finally, Bank of America began coverage on shares of Thomson Reuters in a research report on Thursday, April 10th. They set a “neutral” rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $190.00.

Thomson Reuters Stock Performance

Shares of TRI traded down $3.39 during midday trading on Monday, reaching $205.90. 697,840 shares of the stock were exchanged, compared to its average volume of 484,347. The business’s 50-day moving average price is $197.21 and its 200 day moving average price is $181.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. Thomson Reuters has a twelve month low of $150.01 and a twelve month high of $218.42. The company has a market capitalization of $92.77 billion, a price-to-earnings ratio of 42.15, a PEG ratio of 5.67 and a beta of 0.76.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $1.11 earnings per share. The business’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts expect that Thomson Reuters will post 3.89 EPS for the current fiscal year.

Institutional Trading of Thomson Reuters

Several large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its stake in Thomson Reuters by 139.5% in the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider’s stock worth $1,370,564,000 after purchasing an additional 4,977,006 shares in the last quarter. Norges Bank bought a new position in Thomson Reuters in the 4th quarter valued at about $148,221,000. TD Asset Management Inc lifted its position in Thomson Reuters by 15.7% in the first quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider’s stock worth $951,477,000 after purchasing an additional 750,063 shares during the period. Millennium Management LLC lifted its position in Thomson Reuters by 365.6% in the first quarter. Millennium Management LLC now owns 894,074 shares of the business services provider’s stock worth $154,475,000 after purchasing an additional 702,036 shares during the period. Finally, Geode Capital Management LLC lifted its position in Thomson Reuters by 74.3% in the fourth quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider’s stock worth $214,236,000 after purchasing an additional 560,450 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

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.