CIBC Issues Positive Forecast for Thomson Reuters (NYSE:TRI) Stock Price

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target upped by CIBC from $164.00 to $165.00 in a research note released on Friday,BayStreet.CA reports. CIBC currently has a neutral rating on the business services provider’s stock.

A number of other brokerages have also recently commented on TRI. Scotiabank lifted their price target on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. StockNews.com downgraded Thomson Reuters from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Wells Fargo & Company began coverage on shares of Thomson Reuters in a report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price target on the stock. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Finally, Royal Bank of Canada increased their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $176.10.

Thomson Reuters Stock Performance

TRI opened at $162.37 on Friday. The company has a market cap of $73.05 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 5.69 and a beta of 0.71. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $164.84 and its 200-day moving average price is $166.06. Thomson Reuters has a 52-week low of $142.80 and a 52-week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted $0.82 EPS. Thomson Reuters’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that Thomson Reuters will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.33%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, November 21st. Thomson Reuters’s dividend payout ratio (DPR) is presently 42.52%.

Institutional Investors Weigh In On Thomson Reuters

Several institutional investors have recently bought and sold shares of the company. Aigen Investment Management LP grew its holdings in shares of Thomson Reuters by 87.4% during the third quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider’s stock worth $1,250,000 after buying an additional 3,417 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in Thomson Reuters during the 3rd quarter valued at about $4,506,000. 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 valued at $1,355,000 after acquiring an additional 6,716 shares during the last quarter. Toronto Dominion Bank lifted its stake in Thomson Reuters by 87.1% in the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after purchasing an additional 235,145 shares in the last quarter. Finally, EFG Asset Management Americas Corp. boosted its holdings in shares of Thomson Reuters by 65.4% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 16,500 shares of the business services provider’s stock worth $2,781,000 after purchasing an additional 6,525 shares during the last quarter. 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.