$1.30 Billion in Sales Expected for Thomson Reuters Corp (TRI) This Quarter

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Wall Street brokerages predict that Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) will announce sales of $1.30 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Thomson Reuters’ earnings, with estimates ranging from $1.29 billion to $1.32 billion. Thomson Reuters posted sales of $2.79 billion in the same quarter last year, which suggests a negative year over year growth rate of 53.4%. The business is expected to announce its next earnings results before the market opens on Tuesday, November 6th.

According to Zacks, analysts expect that Thomson Reuters will report full year sales of $5.52 billion for the current fiscal year, with estimates ranging from $5.49 billion to $5.53 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.92 billion, with estimates ranging from $5.89 billion to $5.93 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Thomson Reuters.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Wednesday, August 8th. The business services provider reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.06. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Thomson Reuters had a return on equity of 9.17% and a net margin of 14.15%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS.

A number of equities research analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Thomson Reuters from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 7th. Bank of America reiterated a “neutral” rating and set a $48.00 target price on shares of Thomson Reuters in a research note on Wednesday. Zacks Investment Research upgraded Thomson Reuters from a “strong sell” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Sunday, July 15th. ValuEngine upgraded Thomson Reuters from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $50.00 target price on shares of Thomson Reuters in a research note on Wednesday, September 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $46.30.

Shares of NYSE TRI traded up $1.18 during mid-day trading on Wednesday, reaching $45.64. 2,696,419 shares of the company’s stock were exchanged, compared to its average volume of 1,609,926. The stock has a market capitalization of $31.98 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 12.90 and a beta of 0.65. Thomson Reuters has a 52 week low of $36.52 and a 52 week high of $48.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.31 and a quick ratio of 2.31.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Thursday, November 15th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.40 annualized dividend and a yield of 3.07%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.35. Thomson Reuters’s dividend payout ratio (DPR) is 54.98%.

A number of institutional investors and hedge funds have recently made changes to their positions in TRI. Steward Partners Investment Advisory LLC grew its holdings in Thomson Reuters by 6,100.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,480 shares of the business services provider’s stock valued at $100,000 after buying an additional 2,440 shares in the last quarter. Daiwa SB Investments Ltd. purchased a new position in Thomson Reuters during the 2nd quarter valued at about $141,000. Cerebellum GP LLC purchased a new position in Thomson Reuters during the 3rd quarter valued at about $190,000. CenterStar Asset Management LLC grew its holdings in Thomson Reuters by 955.5% during the 2nd quarter. CenterStar Asset Management LLC now owns 4,929 shares of the business services provider’s stock valued at $198,000 after buying an additional 4,462 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. purchased a new position in Thomson Reuters during the 2nd quarter valued at about $201,000. 22.53% of the stock is owned by institutional investors.

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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