Canaccord Genuity Group Forecasts Strong Price Appreciation for Thomson Reuters (TSE:TRI) Stock

Thomson Reuters (TSE:TRI) (NYSE:TRI) had its price objective boosted by equities researchers at Canaccord Genuity Group from C$175.00 to C$181.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential downside of 28.92% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Bank of America set a C$255.00 price objective on shares of Thomson Reuters and gave the company a “neutral” rating in a report on Thursday, April 10th. BMO Capital Markets lifted their price target on Thomson Reuters from C$265.00 to C$280.00 and gave the company an “outperform” rating in a research note on Friday. TD Securities increased their price objective on Thomson Reuters from C$250.00 to C$260.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Finally, National Bankshares raised their target price on Thomson Reuters from C$260.00 to C$286.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$252.40.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock opened at C$254.64 on Friday. The business has a 50-day simple moving average of C$247.90 and a 200 day simple moving average of C$239.85. Thomson Reuters has a one year low of C$214.51 and a one year high of C$262.09. The company has a debt-to-equity ratio of 24.28, a current ratio of 0.94 and a quick ratio of 0.52. The firm has a market capitalization of C$80.44 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 3.64 and a beta of 0.40.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last issued its earnings results on Thursday, February 6th. The company reported C$1.01 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.04. Thomson Reuters had a return on equity of 20.19% and a net margin of 32.12%. During the same quarter last year, the business earned $0.98 EPS. On average, research analysts anticipate that Thomson Reuters will post 5.6395803 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kerry Hendrikx sold 1,500 shares of Thomson Reuters stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of C$247.06, for a total value of C$370,591.65. Also, Senior Officer David Franklin Wong sold 2,256 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of C$251.96, for a total value of C$568,432.59. Insiders own 69.76% 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.