Morgan Stanley Trims Thomson Reuters (TRI) Target Price to $47.00
Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective cut by Morgan Stanley from $49.00 to $47.00 in a report released on Friday. They currently have an equal weight rating on the business services provider’s stock.
A number of other analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Thomson Reuters from a hold rating to a buy rating in a research note on Thursday, February 8th. Zacks Investment Research cut shares of Thomson Reuters from a buy rating to a hold rating in a research note on Friday, February 2nd. Edward Jones cut shares of Thomson Reuters from a buy rating to a hold rating in a research note on Thursday, February 1st. Scotiabank restated a buy rating and issued a $52.00 price objective (down from $54.00) on shares of Thomson Reuters in a research note on Wednesday, January 31st. Finally, National Bank Financial lowered shares of Thomson Reuters from an outperform rating to a sector perform rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $50.23.
Shares of Thomson Reuters (NYSE TRI) opened at $40.00 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.62 and a quick ratio of 0.63. Thomson Reuters has a one year low of $39.01 and a one year high of $48.61. The firm has a market cap of $28,570.00, a price-to-earnings ratio of 20.62, a PEG ratio of 2.69 and a beta of 0.65.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 22nd will be given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Wednesday, February 21st. Thomson Reuters’s dividend payout ratio (DPR) is currently 71.13%.
A number of hedge funds have recently made changes to their positions in TRI. CIBC Asset Management Inc increased its position in Thomson Reuters by 85.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,978,530 shares of the business services provider’s stock worth $86,592,000 after acquiring an additional 909,851 shares during the period. Point72 Asset Management L.P. bought a new position in Thomson Reuters during the third quarter worth $41,447,000. Mackenzie Financial Corp increased its position in Thomson Reuters by 223.5% during the third quarter. Mackenzie Financial Corp now owns 1,123,906 shares of the business services provider’s stock worth $51,565,000 after acquiring an additional 776,445 shares during the period. Citadel Advisors LLC increased its position in Thomson Reuters by 148.9% during the third quarter. Citadel Advisors LLC now owns 1,232,613 shares of the business services provider’s stock worth $56,556,000 after acquiring an additional 737,370 shares during the period. Finally, Hexavest Inc. bought a new position in Thomson Reuters during the fourth quarter worth $10,562,000. 24.40% of the stock is currently owned by institutional investors and hedge funds.
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About Thomson Reuters
Thomson Reuters Corp (Thomson Reuters) is a Canada-based 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 unit 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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