Thomson Reuters (NYSE:TRI) Price Target Raised to $174.00 at CIBC

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target hoisted by equities researchers at CIBC from $165.00 to $174.00 in a research report issued on Friday,BayStreet.CA reports. CIBC’s target price would suggest a potential downside of 1.21% from the company’s current price.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group lifted their price target on Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday. Royal Bank of Canada upped their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. Scotiabank raised their price objective on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a report on Friday. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $182.09.

Thomson Reuters Stock Down 0.4 %

Shares of NYSE:TRI traded down $0.77 during trading hours on Friday, hitting $176.13. The company’s stock had a trading volume of 186,976 shares, compared to its average volume of 347,788. Thomson Reuters has a 52 week low of $149.14 and a 52 week high of $178.35. The firm’s fifty day moving average price is $163.98 and its 200 day moving average price is $165.41. The company has a market capitalization of $79.26 billion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 5.31 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. As a group, research analysts expect that Thomson Reuters will post 3.69 EPS for the current year.

Institutional Investors Weigh In On Thomson Reuters

A number of hedge funds have recently modified their holdings of TRI. National Bank of Canada FI boosted its holdings in Thomson Reuters by 115.7% during the 3rd quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock valued at $164,292,000 after acquiring an additional 516,715 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Thomson Reuters by 52.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock valued at $185,011,000 after purchasing an additional 395,481 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Thomson Reuters by 11.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after buying an additional 255,387 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Thomson Reuters by 909.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock worth $35,815,000 after buying an additional 189,199 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Thomson Reuters in the 3rd quarter valued at approximately $29,250,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

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.