TD Securities Lowers Thomson Reuters Corp (TRI) Price Target to $61.00
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) had its target price decreased by investment analysts at TD Securities from $65.00 to $61.00 in a report released on Thursday. The firm presently has a “hold” rating on the business services provider’s stock. TD Securities’ price target would indicate a potential upside of 32.96% from the company’s current price.
Several other research firms also recently commented on TRI. BidaskClub upgraded Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded Thomson Reuters Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Morgan Stanley restated an “equal weight” rating and set a $49.00 price objective (up from $48.00) on shares of Thomson Reuters Corp in a research report on Tuesday. Deutsche Bank AG upgraded Thomson Reuters Corp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $50.00 in a research report on Monday, June 19th. Finally, Canaccord Genuity downgraded Thomson Reuters Corp from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a research report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $48.45.
Shares of Thomson Reuters Corp (TRI) traded down 0.07% during mid-day trading on Thursday, reaching $45.88. The company’s stock had a trading volume of 827,424 shares. Thomson Reuters Corp has a 12 month low of $39.23 and a 12 month high of $47.04. The firm has a market cap of $33.12 billion, a PE ratio of 10.85 and a beta of 0.75. The company has a 50-day moving average of $45.47 and a 200-day moving average of $44.25.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last posted its earnings results on Friday, April 28th. The business services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.53 by $0.10. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.80 billion. Thomson Reuters Corp had a return on equity of 13.37% and a net margin of 28.14%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $0.48 earnings per share. On average, analysts predict that Thomson Reuters Corp will post $2.36 earnings per share for the current year.
Thomson Reuters Corp announced that its Board of Directors has authorized a share buyback program on Wednesday, May 24th that allows the company to repurchase 36,000,000 shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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Large investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Thomson Reuters Corp by 9.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,776 shares of the business services provider’s stock worth $165,000 after buying an additional 337 shares during the last quarter. Laurel Wealth Advisors Inc. acquired a new stake in shares of Thomson Reuters Corp during the first quarter worth $216,000. Private Advisor Group LLC increased its stake in shares of Thomson Reuters Corp by 9.8% in the first quarter. Private Advisor Group LLC now owns 5,490 shares of the business services provider’s stock worth $236,000 after buying an additional 489 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Thomson Reuters Corp by 6.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 5,528 shares of the business services provider’s stock worth $239,000 after buying an additional 343 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Thomson Reuters Corp by 5.1% in the first quarter. Creative Planning now owns 5,743 shares of the business services provider’s stock worth $248,000 after buying an additional 279 shares during the last quarter. Institutional investors and hedge funds own 26.50% of the company’s stock.
About Thomson Reuters Corp
Thomson Reuters Corporation (Thomson Reuters) is a provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk segment is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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