TD – Thomson Reuters (NYSE:TRI) Upgraded at Zacks Investment Research
Thomson Reuters (NYSE:TRI) (TSE:TRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The brokerage presently has a $111.00 price target on the business services provider’s stock. Zacks Investment Research’s target price would indicate a potential upside of 13.23% from the company’s previous close.
According to Zacks, “Thomson Corporation is a leading provider of value-added information and technology to users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. “
A number of other equities research analysts also recently weighed in on the company. TD Securities boosted their target price on Thomson Reuters from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, May 5th. The Goldman Sachs Group assumed coverage on Thomson Reuters in a research report on Wednesday, February 17th. They set a “neutral” rating and a $88.00 target price for the company. Scotiabank boosted their target price on Thomson Reuters from $122.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 5th. Canaccord Genuity upped their price objective on Thomson Reuters from $95.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, May 5th. Finally, CIBC upped their price objective on Thomson Reuters from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, May 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $109.90.
Thomson Reuters stock opened at $98.03 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $48.59 billion, a price-to-earnings ratio of 8.18, a P/E/G ratio of 4.11 and a beta of 0.45. The business has a fifty day simple moving average of $93.36. Thomson Reuters has a 52 week low of $66.03 and a 52 week high of $99.14.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Tuesday, May 4th. The business services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.16. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Thomson Reuters had a return on equity of 8.89% and a net margin of 98.69%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share. As a group, equities analysts forecast that Thomson Reuters will post 1.93 EPS for the current year.
Several institutional investors have recently made changes to their positions in the business. Advisor Partners LLC increased its holdings in shares of Thomson Reuters by 5.9% in the first quarter. Advisor Partners LLC now owns 7,711 shares of the business services provider’s stock worth $675,000 after acquiring an additional 431 shares in the last quarter. Pendal Group Limited increased its holdings in shares of Thomson Reuters by 49.3% in the first quarter. Pendal Group Limited now owns 27,077 shares of the business services provider’s stock worth $2,372,000 after acquiring an additional 8,935 shares in the last quarter. Baker Tilly Wealth Management LLC increased its holdings in shares of Thomson Reuters by 9.8% in the first quarter. Baker Tilly Wealth Management LLC now owns 3,913 shares of the business services provider’s stock worth $343,000 after acquiring an additional 349 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Thomson Reuters in the first quarter worth about $1,006,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Thomson Reuters by 8.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 12,952 shares of the business services provider’s stock worth $1,134,000 after acquiring an additional 1,049 shares in the last quarter. Institutional investors own 22.83% of the company’s stock.
About Thomson Reuters
Thomson Reuters Corporation provides 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.
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