Analysts expect Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) to report $1.30 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Thomson Reuters’ earnings, with estimates ranging from $1.29 billion to $1.32 billion. Thomson Reuters posted sales of $2.79 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 53.4%. The business is scheduled to report its next quarterly earnings results before the market opens on Tuesday, November 6th.
On average, analysts expect that Thomson Reuters will report full year sales of $5.52 billion for the current year, with estimates ranging from $5.49 billion to $5.53 billion. For the next year, analysts anticipate that the company will post sales of $5.92 billion, with estimates ranging from $5.89 billion to $5.93 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Thomson Reuters.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Wednesday, August 8th. The business services provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. Thomson Reuters had a return on equity of 9.17% and a net margin of 14.15%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share.
A number of equities analysts recently commented on the company. Bank of America restated a “neutral” rating and set a $48.00 target price on shares of Thomson Reuters in a report on Wednesday. Morgan Stanley upgraded Thomson Reuters from an “equal weight” rating to an “overweight” rating and set a $52.00 target price for the company in a report on Thursday, September 13th. ValuEngine upgraded Thomson Reuters from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Canaccord Genuity restated a “buy” rating and set a $50.00 target price on shares of Thomson Reuters in a report on Wednesday, September 5th. Finally, Royal Bank of Canada upped their target price on Thomson Reuters from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Thomson Reuters has an average rating of “Hold” and a consensus price target of $46.30.
Hedge funds have recently modified their holdings of the stock. Cerebellum GP LLC purchased a new stake in shares of Thomson Reuters during the third quarter valued at $190,000. Fox Run Management L.L.C. boosted its position in shares of Thomson Reuters by 79.3% during the third quarter. Fox Run Management L.L.C. now owns 15,951 shares of the business services provider’s stock valued at $729,000 after buying an additional 7,054 shares during the last quarter. Northern Trust Corp boosted its position in shares of Thomson Reuters by 4.8% during the second quarter. Northern Trust Corp now owns 516,102 shares of the business services provider’s stock valued at $20,809,000 after buying an additional 23,457 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Thomson Reuters by 7.5% during the second quarter. Bank of New York Mellon Corp now owns 754,569 shares of the business services provider’s stock valued at $30,423,000 after buying an additional 52,833 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. purchased a new stake in shares of Thomson Reuters during the second quarter valued at $201,000. 22.53% of the stock is currently owned by institutional investors.
Shares of Thomson Reuters stock traded up $1.18 during midday trading on Wednesday, reaching $45.64. 2,696,419 shares of the company’s stock traded hands, compared to its average volume of 1,609,926. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.41. The company has a market cap of $31.98 billion, a PE ratio of 18.18, a P/E/G ratio of 12.90 and a beta of 0.65. Thomson Reuters has a 12 month low of $36.52 and a 12 month high of $48.61.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Thursday, November 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.07%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, November 14th. Thomson Reuters’s dividend payout ratio is presently 54.98%.
Thomson Reuters Company Profile
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.
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