Wall Street analysts predict that Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) will report $2.82 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Thomson Reuters Corp’s earnings, with the highest sales estimate coming in at $2.84 billion and the lowest estimate coming in at $2.79 billion. Thomson Reuters Corp posted sales of $2.74 billion during the same quarter last year, which would indicate a positive year over year growth rate of 2.9%. The business is expected to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Thomson Reuters Corp will report full-year sales of $2.82 billion for the current fiscal year, with estimates ranging from $11.31 billion to $11.46 billion. For the next fiscal year, analysts expect that the firm will report sales of $11.75 billion per share, with estimates ranging from $11.58 billion to $11.95 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Thomson Reuters Corp.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.09. Thomson Reuters Corp had a return on equity of 13.64% and a net margin of 26.81%. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year.
Several equities research analysts have recently weighed in on TRI shares. Macquarie raised Thomson Reuters Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 15th. Deutsche Bank AG raised Thomson Reuters Corp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $50.00 in a research note on Monday, June 19th. BidaskClub raised Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research lowered Thomson Reuters Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $49.00 price objective (up from $48.00) on shares of Thomson Reuters Corp in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $50.55.
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Shares of Thomson Reuters Corp (TRI) opened at 45.69 on Friday. Thomson Reuters Corp has a 52-week low of $39.23 and a 52-week high of $48.57. The firm has a 50-day moving average price of $46.21 and a 200 day moving average price of $44.60. The stock has a market cap of $32.65 billion, a price-to-earnings ratio of 11.22 and a beta of 0.75.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be issued a $0.345 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.02%. Thomson Reuters Corp’s payout ratio is currently 33.91%.
Thomson Reuters Corp announced that its board has initiated a share buyback plan on Wednesday, May 24th that allows the company to repurchase 36,000,000 shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in Thomson Reuters Corp by 0.4% in the first quarter. Wellington Management Group LLP now owns 11,896,855 shares of the business services provider’s stock worth $514,297,000 after buying an additional 52,932 shares during the last quarter. Vanguard Group Inc. raised its stake in Thomson Reuters Corp by 2.7% in the first quarter. Vanguard Group Inc. now owns 7,317,244 shares of the business services provider’s stock worth $316,324,000 after buying an additional 193,354 shares during the last quarter. TD Asset Management Inc. raised its stake in Thomson Reuters Corp by 3.6% in the second quarter. TD Asset Management Inc. now owns 7,155,761 shares of the business services provider’s stock worth $330,813,000 after buying an additional 247,665 shares during the last quarter. CIBC World Markets Inc. raised its stake in Thomson Reuters Corp by 112.8% in the second quarter. CIBC World Markets Inc. now owns 4,066,504 shares of the business services provider’s stock worth $188,238,000 after buying an additional 2,155,229 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Thomson Reuters Corp by 11,279.4% in the first quarter. BlackRock Inc. now owns 3,853,749 shares of the business services provider’s stock worth $166,597,000 after buying an additional 3,819,883 shares during the last quarter. Institutional investors own 26.16% of the company’s stock.
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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