Bank of America Has Lowered Expectations for Thomson Reuters (NASDAQ:TRI) Stock Price

Thomson Reuters (NASDAQ:TRI) had its price objective reduced by equities researchers at Bank of America from $115.00 to $98.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 11.45% from the company’s previous close.

A number of other brokerages have also weighed in on TRI. The Goldman Sachs Group set a $112.66 price objective on Thomson Reuters and gave the company a “buy” rating in a report on Saturday, February 7th. TD Securities restated a “buy” rating on shares of Thomson Reuters in a report on Wednesday, May 6th. Wells Fargo & Company raised their price objective on Thomson Reuters from $87.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Argus initiated coverage on Thomson Reuters in a report on Wednesday, April 22nd. They issued a “hold” rating on the stock. Finally, Weiss Ratings lowered Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.84.

Thomson Reuters Price Performance

Shares of NASDAQ:TRI traded down $2.07 during midday trading on Tuesday, reaching $87.93. 3,713,029 shares of the company’s stock traded hands, compared to its average volume of 2,515,853. Thomson Reuters has a 1 year low of $78.60 and a 1 year high of $218.42. The company has a market cap of $38.36 billion, a P/E ratio of 25.58, a PEG ratio of 1.23 and a beta of 0.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60. The company has a fifty day simple moving average of $93.03 and a two-hundred day simple moving average of $112.91.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. Equities analysts predict that Thomson Reuters will post 4.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TRI. Empowered Funds LLC purchased a new position in shares of Thomson Reuters during the 4th quarter worth $30,000. Cullen Frost Bankers Inc. increased its position in shares of Thomson Reuters by 50.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock worth $39,000 after purchasing an additional 83 shares during the last quarter. Timmons Wealth Management LLC acquired a new stake in shares of Thomson Reuters during the 4th quarter worth about $42,000. Montag A & Associates Inc. acquired a new stake in shares of Thomson Reuters during the 4th quarter worth about $43,000. Finally, Westside Investment Management Inc. increased its position in shares of Thomson Reuters by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock worth $52,000 after purchasing an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

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.