Thomson Reuters (NYSE:TRI) Given New $175.00 Price Target at Canaccord Genuity Group

Thomson Reuters (NYSE:TRI - Free Report) TSE: TRI had its target price hoisted by Canaccord Genuity Group from $164.00 to $175.00 in a research report released on Friday morning,BayStreet.CA reports. They currently have a hold rating on the business services provider's stock.

Several other research firms have also recently issued reports on TRI. StockNews.com raised Thomson Reuters from a "sell" rating to a "hold" rating in a research note on Wednesday, January 8th. Royal Bank of Canada lifted their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a "sector perform" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $175.00 to $177.00 and gave the company a "neutral" rating in a research report on Friday. The Goldman Sachs Group lifted their price objective on Thomson Reuters from $168.00 to $188.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Scotiabank lifted their price objective on Thomson Reuters from $187.00 to $188.00 and gave the company a "sector outperform" rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $182.09.

Thomson Reuters Trading Down 0.2 %

Shares of NYSE TRI traded down $0.40 during trading hours on Friday, hitting $178.54. The company's stock had a trading volume of 220,655 shares, compared to its average volume of 353,801. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $80.34 billion, a price-to-earnings ratio of 36.52, a P/E/G ratio of 5.59 and a beta of 0.73. Thomson Reuters has a 12 month low of $149.50 and a 12 month high of $179.45. The business has a 50-day simple moving average of $164.55 and a 200-day simple moving average of $165.62.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.78% and a net margin of 30.45%. On average, analysts anticipate that Thomson Reuters will post 3.96 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 20th will be given a $0.595 dividend. This is a boost from Thomson Reuters's previous quarterly dividend of $0.54. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Thursday, February 20th. Thomson Reuters's payout ratio is currently 44.17%.

Institutional Trading of Thomson Reuters

Hedge funds have recently made changes to their positions in the stock. Aigen Investment Management LP raised its holdings in Thomson Reuters by 87.4% in the 3rd quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider's stock worth $1,250,000 after acquiring an additional 3,417 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Thomson Reuters in the 3rd quarter worth approximately $4,506,000. Atomi Financial Group Inc. raised its holdings in Thomson Reuters by 16.1% in the 4th quarter. Atomi Financial Group Inc. now owns 1,819 shares of the business services provider's stock worth $292,000 after acquiring an additional 252 shares during the last quarter. Icon Wealth Advisors LLC raised its holdings in Thomson Reuters by 547.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 7,943 shares of the business services provider's stock worth $1,355,000 after acquiring an additional 6,716 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new position in Thomson Reuters in the 3rd quarter worth approximately $2,127,000. 17.31% of the stock is owned by institutional investors.

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.