JPMorgan Chase & Co. Cuts Thomson Reuters (NYSE:TRI) Price Target to $100.00

Thomson Reuters (NYSE:TRIFree Report) (TSE:TRI) had its target price cut by JPMorgan Chase & Co. from $160.00 to $100.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

TRI has been the topic of a number of other research reports. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research note on Friday. The Goldman Sachs Group set a $186.00 price objective on Thomson Reuters and gave the company a “buy” rating in a research report on Wednesday, October 15th. Morgan Stanley set a $116.00 target price on Thomson Reuters in a research report on Friday. Scotiabank reiterated an “outperform” rating and set a $156.00 target price (down from $189.00) on shares of Thomson Reuters in a report on Friday. Finally, Canadian Imperial Bank of Commerce set a $183.00 price target on Thomson Reuters and gave the stock an “outperformer” rating in a research report on Friday, January 16th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Thomson Reuters currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.42.

View Our Latest Stock Analysis on Thomson Reuters

Thomson Reuters Stock Down 0.3%

Shares of TRI opened at $88.07 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a market cap of $39.19 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 5.67 and a beta of 0.79. The company’s fifty day moving average is $124.83 and its two-hundred day moving average is $149.70. Thomson Reuters has a fifty-two week low of $85.02 and a fifty-two week high of $218.42.

Thomson Reuters (NYSE:TRIGet Free Report) (TSE:TRI) last posted its quarterly earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. Analysts forecast that Thomson Reuters will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s dividend payout ratio is currently 78.68%.

Institutional Trading of Thomson Reuters

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Curio Wealth LLC boosted its stake in Thomson Reuters by 16,200.0% during the 2nd quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 162 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in shares of Thomson Reuters in the 2nd quarter valued at about $34,000. Ameritas Advisory Services LLC bought a new position in shares of Thomson Reuters during the second quarter worth about $37,000. AlphaCore Capital LLC acquired a new position in Thomson Reuters in the second quarter worth about $39,000. Finally, Cullen Frost Bankers Inc. increased its holdings in Thomson Reuters by 50.0% in the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock valued at $39,000 after buying an additional 83 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

Key Stories Impacting Thomson Reuters

Here are the key news stories impacting Thomson Reuters this week:

About Thomson Reuters

(Get Free Report)

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.

Read More

Analyst Recommendations for Thomson Reuters (NYSE:TRI)

Receive News & Ratings for Thomson Reuters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thomson Reuters and related companies with MarketBeat.com's FREE daily email newsletter.