Wall Street analysts forecast that Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) will post $1.30 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Thomson Reuters’ earnings. The lowest sales estimate is $1.29 billion and the highest is $1.32 billion. Thomson Reuters reported sales of $2.79 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 53.4%. The company is expected to report its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Thomson Reuters will report full year sales of $5.50 billion for the current year, with estimates ranging from $5.45 billion to $5.53 billion. For the next fiscal year, analysts forecast that the business will post sales of $5.84 billion per share, with estimates ranging from $5.60 billion to $5.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Thomson Reuters.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Wednesday, August 8th. The business services provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. Thomson Reuters had a return on equity of 9.17% and a net margin of 14.15%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS.
A number of analysts have commented on the company. Morgan Stanley raised Thomson Reuters from an “equal weight” rating to an “overweight” rating in a report on Thursday. ValuEngine raised Thomson Reuters from a “hold” rating to a “buy” rating in a report on Wednesday. Royal Bank of Canada boosted their price objective on Thomson Reuters from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Canaccord Genuity reaffirmed a “buy” rating and issued a $50.00 target price on shares of Thomson Reuters in a report on Wednesday, September 5th. Finally, Zacks Investment Research raised Thomson Reuters from a “strong sell” rating to a “buy” rating and set a $47.00 target price for the company in a report on Sunday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $45.58.
Hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its stake in Thomson Reuters by 6,100.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,480 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 2,440 shares during the last quarter. Daiwa SB Investments Ltd. purchased a new position in Thomson Reuters in the second quarter valued at approximately $141,000. CenterStar Asset Management LLC lifted its stake in Thomson Reuters by 955.5% in the second quarter. CenterStar Asset Management LLC now owns 4,929 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 4,462 shares during the last quarter. Laurel Wealth Advisors Inc. purchased a new position in Thomson Reuters in the second quarter valued at approximately $201,000. Finally, Marathon Trading Investment Management LLC purchased a new position in Thomson Reuters in the second quarter valued at approximately $202,000. 22.61% of the stock is owned by institutional investors.
TRI traded up $0.42 during midday trading on Thursday, reaching $45.64. 3,315,800 shares of the company were exchanged, compared to its average volume of 1,213,317. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.31 and a current ratio of 2.31. The firm has a market capitalization of $31.31 billion, a P/E ratio of 18.21, a P/E/G ratio of 12.62 and a beta of 0.68. Thomson Reuters has a one year low of $36.52 and a one year high of $48.61.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Thursday, August 16th will be issued a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 3.02%. 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.
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