Piper Jaffray Companies Comments on Thomson Reuters Corp’s Q3 2018 Earnings (TRI)

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) – Equities research analysts at Piper Jaffray Companies cut their Q3 2018 earnings per share (EPS) estimates for Thomson Reuters in a note issued to investors on Wednesday, August 8th. Piper Jaffray Companies analyst P. Appert now anticipates that the business services provider will earn $0.04 per share for the quarter, down from their previous estimate of $0.08. Piper Jaffray Companies currently has a “Neutral” rating and a $45.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Thomson Reuters’ Q4 2018 earnings at $0.16 EPS, FY2018 earnings at $0.64 EPS, Q1 2019 earnings at $0.33 EPS, Q2 2019 earnings at $0.23 EPS, Q3 2019 earnings at $0.30 EPS and FY2019 earnings at $1.24 EPS.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Wednesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.06. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Thomson Reuters had a net margin of 7.67% and a return on equity of 11.61%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday, May 14th. They noted that the move was a valuation call. ValuEngine cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Tuesday, April 24th. Barclays dropped their target price on shares of Thomson Reuters from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, April 13th. Finally, Zacks Investment Research upgraded shares of Thomson Reuters from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Thursday, April 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Thomson Reuters currently has an average rating of “Hold” and an average price target of $44.92.

NYSE:TRI opened at $42.41 on Friday. The firm has a market capitalization of $28.97 billion, a P/E ratio of 18.96, a P/E/G ratio of 11.15 and a beta of 0.65. Thomson Reuters has a twelve month low of $36.52 and a twelve month high of $48.61. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40.

Institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in shares of Thomson Reuters by 6,100.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,480 shares of the business services provider’s stock worth $100,000 after purchasing an additional 2,440 shares during the last quarter. Daiwa SB Investments Ltd. purchased a new position in shares of Thomson Reuters in the 2nd quarter worth about $141,000. CenterStar Asset Management LLC raised its position in shares of Thomson Reuters by 955.5% in the 2nd quarter. CenterStar Asset Management LLC now owns 4,929 shares of the business services provider’s stock worth $198,000 after purchasing an additional 4,462 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Thomson Reuters in the 1st quarter worth about $204,000. Finally, Shine Investment Advisory Services Inc. raised its position in shares of Thomson Reuters by 138.1% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 5,070 shares of the business services provider’s stock worth $204,000 after purchasing an additional 2,941 shares during the last quarter. 25.29% of the stock is owned by hedge funds and other institutional investors.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Thursday, August 16th will be given a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Wednesday, August 15th. Thomson Reuters’s dividend payout ratio is presently 54.98%.

About Thomson Reuters

Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.

Further Reading: Leveraged Buyout (LBO)

Earnings History and Estimates for Thomson Reuters (NYSE:TRI)

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