Thomson Reuters (NYSE:TRI) Rating Increased to Buy at Zacks Investment Research

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Thomson Reuters (NYSE:TRI) (TSE:TRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage currently has a $76.00 price target on the business services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.34% 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. “

TRI has been the topic of a number of other research reports. Morgan Stanley increased their price target on Thomson Reuters from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$78.00 to C$88.00 in a research report on Monday, April 22nd. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Royal Bank of Canada increased their price target on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 9th. Finally, Macquarie reissued a “neutral” rating on shares of EXPERIAN PLC/ADR in a research report on Tuesday, June 25th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.15.

Shares of Thomson Reuters stock traded up $0.55 on Thursday, hitting $68.26. The stock had a trading volume of 9,251 shares, compared to its average volume of 339,757. Thomson Reuters has a twelve month low of $44.78 and a twelve month high of $68.19. The company has a 50 day moving average price of $65.57. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $33.93 billion, a PE ratio of 91.04, a price-to-earnings-growth ratio of 7.55 and a beta of 0.53.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Wednesday, May 8th. The business services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.23 by $0.13. Thomson Reuters had a return on equity of 4.25% and a net margin of 78.52%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Thomson Reuters will post 1.12 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brinker Capital Inc. purchased a new stake in shares of Thomson Reuters during the 4th quarter worth about $766,000. Two Sigma Advisers LP purchased a new stake in shares of Thomson Reuters during the 4th quarter worth about $19,500,000. Suntrust Banks Inc. grew its holdings in shares of Thomson Reuters by 9.6% during the 4th quarter. Suntrust Banks Inc. now owns 26,715 shares of the business services provider’s stock worth $1,291,000 after purchasing an additional 2,344 shares during the period. MML Investors Services LLC grew its holdings in shares of Thomson Reuters by 24.1% during the 4th quarter. MML Investors Services LLC now owns 7,790 shares of the business services provider’s stock worth $376,000 after purchasing an additional 1,511 shares during the period. Finally, Gotham Asset Management LLC purchased a new stake in shares of Thomson Reuters during the 4th quarter worth about $1,182,000. Hedge funds and other institutional investors own 20.42% of the company’s stock.

About Thomson Reuters

Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.

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