Thomson Reuters Corp’s (TRI) Hold Rating Reaffirmed at Canaccord Genuity

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI)‘s stock had its “hold” rating restated by stock analysts at Canaccord Genuity in a research note issued to investors on Wednesday. They presently have a $46.00 target price on the business services provider’s stock. Canaccord Genuity’s price target points to a potential downside of 1.79% from the stock’s current price.

Several other brokerages also recently commented on TRI. Scotiabank raised their target price on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada raised their target price on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 2nd. Deutsche Bank AG raised their target price on shares of Thomson Reuters Corp from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Morgan Stanley lifted their price objective on shares of Thomson Reuters Corp from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Finally, Credit Suisse Group assumed coverage on shares of Thomson Reuters Corp in a report on Tuesday, October 24th. They issued a “neutral” rating and a $52.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Thomson Reuters Corp presently has an average rating of “Hold” and a consensus price target of $52.00.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, August 1st. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.51 by $0.09. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.78 billion. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS.

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Several large investors have recently added to or reduced their stakes in the stock. State of Wisconsin Investment Board grew its stake in shares of Thomson Reuters Corp by 25.6% in the third quarter. State of Wisconsin Investment Board now owns 269,147 shares of the business services provider’s stock valued at $12,321,000 after buying an additional 54,900 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Thomson Reuters Corp in the third quarter valued at $560,000. Cumberland Partners Ltd bought a new position in shares of Thomson Reuters Corp in the third quarter valued at $458,000. Cidel Asset Management Inc. grew its stake in shares of Thomson Reuters Corp by 8.9% in the third quarter. Cidel Asset Management Inc. now owns 89,158 shares of the business services provider’s stock valued at $4,080,000 after buying an additional 7,301 shares in the last quarter. Finally, Intact Investment Management Inc. grew its stake in shares of Thomson Reuters Corp by 27.7% in the third quarter. Intact Investment Management Inc. now owns 708,048 shares of the business services provider’s stock valued at $40,522,000 after buying an additional 153,800 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.

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