Thomson Reuters Corp (TRI) Rating Increased to Outperform at Scotiabank

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) was upgraded by Scotiabank from a “sector perform” rating to an “outperform” rating in a report released on Tuesday. The brokerage currently has a $55.00 price objective on the business services provider’s stock, up from their previous price objective of $47.00. Scotiabank’s target price would indicate a potential upside of 15.57% from the company’s current price.

TRI has been the topic of a number of other reports. BidaskClub upgraded Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research lowered Thomson Reuters Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Royal Bank Of Canada set a $45.00 target price on Thomson Reuters Corp and gave the stock a “hold” rating in a research note on Thursday, July 27th. Piper Jaffray Companies restated a “hold” rating and issued a $50.00 target price on shares of Thomson Reuters Corp in a research note on Tuesday, September 19th. Finally, Berenberg Bank set a $37.00 target price on Thomson Reuters Corp and gave the stock a “sell” rating in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Thomson Reuters Corp presently has a consensus rating of “Hold” and a consensus price target of $51.67.

Thomson Reuters Corp (NYSE TRI) opened at 47.59 on Tuesday. The stock has a 50 day moving average price of $45.95 and a 200-day moving average price of $45.21. The stock has a market capitalization of $34.61 billion, a P/E ratio of 11.51 and a beta of 0.75. Thomson Reuters Corp has a 1-year low of $39.23 and a 1-year high of $48.57.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.78 billion. Thomson Reuters Corp had a return on equity of 13.64% and a net margin of 26.81%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. Equities research analysts expect that Thomson Reuters Corp will post $2.45 EPS for the current year.

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Several institutional investors have recently made changes to their positions in the company. First National Bank of Mount Dora Trust Investment Services increased its position in shares of Thomson Reuters Corp by 4.3% during the 3rd quarter. First National Bank of Mount Dora Trust Investment Services now owns 118,830 shares of the business services provider’s stock valued at $5,452,000 after purchasing an additional 4,875 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Thomson Reuters Corp during the 2nd quarter valued at about $303,000. Bank of Nova Scotia increased its position in shares of Thomson Reuters Corp by 5.9% during the 2nd quarter. Bank of Nova Scotia now owns 754,949 shares of the business services provider’s stock valued at $34,965,000 after purchasing an additional 42,095 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Thomson Reuters Corp by 24.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,698 shares of the business services provider’s stock valued at $449,000 after purchasing an additional 1,919 shares during the last quarter. Finally, Troy Asset Management Ltd bought a new position in shares of Thomson Reuters Corp during the 2nd quarter valued at about $5,507,000. Hedge funds and other institutional investors own 26.14% of the company’s stock.

About Thomson Reuters Corp

Thomson Reuters Corporation (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.

Analyst Recommendations for Thomson Reuters Corp (NYSE:TRI)

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