JPMorgan Chase & Co. Increases Thomson Reuters (NYSE:TRI) Price Target to $163.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $152.00 to $163.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 1.06% from the stock’s current price.

A number of other equities analysts also recently issued reports on TRI. Royal Bank of Canada lifted their price target on Thomson Reuters from $153.00 to $156.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 30th. CIBC lifted their target price on shares of Thomson Reuters from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Friday. Canaccord Genuity Group lifted their target price on shares of Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday. Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $150.00 to $180.00 in a research report on Thursday, March 14th. Finally, TD Securities lifted their target price on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $164.31.

Thomson Reuters Price Performance

TRI stock opened at $164.74 on Friday. The company has a market capitalization of $74.35 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 4.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. Thomson Reuters has a 52-week low of $117.46 and a 52-week high of $166.11. The business has a 50-day simple moving average of $155.38 and a two-hundred day simple moving average of $146.37.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Thomson Reuters had a return on equity of 15.43% and a net margin of 34.87%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. Research analysts expect that Thomson Reuters will post 3.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Thomson Reuters

A number of hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its holdings in Thomson Reuters by 1.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 70 shares during the period. Fifth Third Bancorp raised its holdings in Thomson Reuters by 25.7% during the 4th quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 78 shares during the period. Legacy Wealth Asset Management LLC raised its holdings in Thomson Reuters by 0.7% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 12,685 shares of the business services provider’s stock valued at $1,855,000 after acquiring an additional 82 shares during the period. Gulf International Bank UK Ltd raised its holdings in Thomson Reuters by 5.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 1,541 shares of the business services provider’s stock valued at $239,000 after acquiring an additional 85 shares during the period. Finally, Advisor OS LLC raised its holdings in Thomson Reuters by 5.2% during the 3rd quarter. Advisor OS LLC now owns 1,730 shares of the business services provider’s stock valued at $212,000 after acquiring an additional 86 shares during the period. Institutional investors own 17.31% of the company’s stock.

About Thomson Reuters

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.