Thomson Reuters (NYSE:TRI) Given New $171.00 Price Target at Royal Bank of Canada

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI had its price objective raised by stock analysts at Royal Bank of Canada from $168.00 to $171.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has a "sector perform" rating on the business services provider's stock. Royal Bank of Canada's price objective points to a potential upside of 2.32% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. National Bank Financial raised shares of Thomson Reuters from a "sector perform" rating to an "outperform" rating in a research report on Monday, September 9th. Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upped their target price on Thomson Reuters from $163.00 to $164.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $173.73.

Thomson Reuters Trading Up 0.2 %

TRI traded up $0.41 during trading on Wednesday, hitting $167.13. 229,417 shares of the company's stock were exchanged, compared to its average volume of 357,141. Thomson Reuters has a 1 year low of $117.46 and a 1 year high of $176.03. The stock has a 50 day moving average price of $168.71 and a 200 day moving average price of $165.67. The firm has a market cap of $75.19 billion, a P/E ratio of 32.08, a price-to-earnings-growth ratio of 5.67 and a beta of 0.73. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company posted $0.84 earnings per share. The firm's revenue was up 5.6% compared to the same quarter last year. As a group, analysts expect that Thomson Reuters will post 3.71 EPS for the current fiscal year.

Institutional Trading of Thomson Reuters

A number of institutional investors and hedge funds have recently made changes to their positions in TRI. Vanguard Group Inc. boosted its stake in Thomson Reuters by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider's stock valued at $894,442,000 after purchasing an additional 41,680 shares during the period. TD Asset Management Inc raised its stake in Thomson Reuters by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider's stock valued at $686,640,000 after acquiring an additional 26,483 shares in the last quarter. Clearbridge Investments LLC boosted its position in Thomson Reuters by 9.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider's stock worth $245,893,000 after acquiring an additional 125,167 shares during the period. Cibc World Market Inc. grew its stake in shares of Thomson Reuters by 26.3% in the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider's stock worth $223,525,000 after purchasing an additional 276,206 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Thomson Reuters by 21.8% during the second quarter. CIBC Asset Management Inc now owns 776,976 shares of the business services provider's stock valued at $130,890,000 after purchasing an additional 138,971 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

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.