Top Dividend Stocks – $1.55 Billion in Sales Expected for Thomson Reuters Co. (NYSE:TRI) This Quarter
Wall Street brokerages forecast that Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) will post $1.55 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Thomson Reuters’ earnings. Thomson Reuters posted sales of $1.52 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2%. The company is scheduled to announce its next earnings report before the market opens on Tuesday, May 4th.
On average, analysts expect that Thomson Reuters will report full-year sales of $6.20 billion for the current financial year, with estimates ranging from $6.19 billion to $6.22 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $6.49 billion, with estimates ranging from $6.48 billion to $6.49 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Thomson Reuters.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Monday, February 22nd. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.08. Thomson Reuters had a return on equity of 8.89% and a net margin of 31.66%. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis.
Several brokerages have recently issued reports on TRI. Morgan Stanley reduced their price objective on Thomson Reuters from $98.00 to $92.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 23rd. Royal Bank of Canada increased their price target on Thomson Reuters from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday. Scotiabank upped their price objective on shares of Thomson Reuters from $89.00 to $90.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 2nd. Canaccord Genuity raised shares of Thomson Reuters from a “hold” rating to a “buy” rating in a research note on Wednesday, February 24th. Finally, BMO Capital Markets boosted their price target on shares of Thomson Reuters from $116.00 to $127.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Thomson Reuters has a consensus rating of “Buy” and an average target price of $96.18.
NYSE TRI opened at $93.50 on Tuesday. The company has a 50-day moving average price of $90.21 and a two-hundred day moving average price of $84.23. Thomson Reuters has a 52 week low of $64.47 and a 52 week high of $94.17. The stock has a market cap of $46.27 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 3.15 and a beta of 0.47. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.39.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Friday, March 5th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Thursday, March 4th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.38. This represents a $1.62 dividend on an annualized basis and a yield of 1.73%. Thomson Reuters’s dividend payout ratio (DPR) is presently 88.37%.
Several hedge funds have recently bought and sold shares of the stock. Cordasco Financial Network purchased a new position in shares of Thomson Reuters during the 1st quarter valued at $26,000. Perigon Wealth Management LLC bought a new stake in Thomson Reuters during the fourth quarter worth approximately $26,000. Captrust Financial Advisors boosted its holdings in shares of Thomson Reuters by 269.3% during the 4th quarter. Captrust Financial Advisors now owns 373 shares of the business services provider’s stock worth $31,000 after buying an additional 272 shares during the period. Pacifica Partners Inc. boosted its holdings in Thomson Reuters by 80.2% during the first quarter. Pacifica Partners Inc. now owns 373 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 166 shares during the period. Finally, JJJ Advisors Inc. increased its position in Thomson Reuters by 87.7% in the 1st quarter. JJJ Advisors Inc. now owns 398 shares of the business services provider’s stock worth $35,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 20.49% of the company’s stock.
About Thomson Reuters
Thomson Reuters Corporation provides business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.
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