Brokerages Set Thomson Reuters Corp (NYSE:TRI) Target Price at $59.50

Shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) have been assigned an average rating of “Hold” from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $59.50.

A number of brokerages recently commented on TRI. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Macquarie reissued a “neutral” rating on shares of EXPERIAN PLC/ADR in a research report on Tuesday, June 25th. Morgan Stanley boosted their price target on shares of Thomson Reuters from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Finally, Royal Bank of Canada boosted their price target on shares of Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the company a “sector perform” rating in a research report on Thursday, May 9th.

Shares of TRI stock traded up $0.56 on Friday, reaching $67.38. 302,091 shares of the stock were exchanged, compared to its average volume of 484,590. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average price is $65.26. The stock has a market cap of $33.33 billion, a P/E ratio of 89.11, a price-to-earnings-growth ratio of 7.36 and a beta of 0.53. Thomson Reuters has a twelve month low of $44.78 and a twelve month high of $67.47.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Wednesday, May 8th. The business services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.13. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Thomson Reuters had a net margin of 78.52% and a return on equity of 4.25%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, sell-side analysts anticipate that Thomson Reuters will post 1.13 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Thursday, May 23rd were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 2.14%. Thomson Reuters’s dividend payout ratio (DPR) is presently 192.00%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Thomson Reuters during the 4th quarter valued at approximately $82,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Thomson Reuters during the 4th quarter valued at approximately $408,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Thomson Reuters during the 4th quarter valued at approximately $516,000. Aviva PLC raised its position in shares of Thomson Reuters by 18.8% during the 4th quarter. Aviva PLC now owns 161,762 shares of the business services provider’s stock valued at $7,823,000 after buying an additional 25,550 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Thomson Reuters by 61.1% during the 4th quarter. Bessemer Group Inc. now owns 219,776 shares of the business services provider’s stock valued at $10,617,000 after buying an additional 83,327 shares during the period. 20.43% of the stock is owned by hedge funds and other institutional investors.

About Thomson Reuters

Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.

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