Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) – Equities researchers at National Bank Financial cut their FY2019 EPS estimates for shares of Thomson Reuters in a research note issued to investors on Tuesday, December 4th. National Bank Financial analyst A. Shine now forecasts that the business services provider will earn $1.34 per share for the year, down from their previous forecast of $1.47. National Bank Financial currently has a “Buy” rating on the stock. National Bank Financial also issued estimates for Thomson Reuters’ FY2020 earnings at $2.16 EPS.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, November 6th. The business services provider reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.31 billion. Thomson Reuters had a net margin of 16.21% and a return on equity of 6.10%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share.
A number of other equities analysts also recently commented on TRI. Royal Bank of Canada boosted their target price on shares of Thomson Reuters from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Canaccord Genuity reiterated a “buy” rating and issued a $50.00 target price on shares of Thomson Reuters in a report on Wednesday, September 5th. ValuEngine upgraded shares of Thomson Reuters from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Morgan Stanley upgraded shares of 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. Finally, Bank of America reiterated a “neutral” rating and issued a $48.00 target price on shares of Thomson Reuters in a report on Wednesday, October 10th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Thomson Reuters currently has a consensus rating of “Hold” and a consensus price target of $51.00.
Shares of Thomson Reuters stock opened at $50.99 on Thursday. The stock has a market capitalization of $25.75 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 8.25 and a beta of 0.55. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. Thomson Reuters has a one year low of $36.52 and a one year high of $51.74.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.35 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.75%. Thomson Reuters’s payout ratio is presently 55.80%.
Several hedge funds have recently modified their holdings of TRI. Aperio Group LLC grew its stake in shares of Thomson Reuters by 3.6% during the second quarter. Aperio Group LLC now owns 150,653 shares of the business services provider’s stock worth $6,074,000 after acquiring an additional 5,293 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Thomson Reuters by 2.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 921,103 shares of the business services provider’s stock worth $37,173,000 after acquiring an additional 18,092 shares during the last quarter. State of Wisconsin Investment Board grew its stake in shares of Thomson Reuters by 14.3% during the second quarter. State of Wisconsin Investment Board now owns 196,347 shares of the business services provider’s stock worth $7,918,000 after acquiring an additional 24,600 shares during the last quarter. Tobam grew its stake in shares of Thomson Reuters by 151.1% during the second quarter. Tobam now owns 261,100 shares of the business services provider’s stock worth $10,530,000 after acquiring an additional 157,100 shares during the last quarter. Finally, Global Financial Private Capital LLC purchased a new stake in shares of Thomson Reuters during the second quarter worth about $328,000. Institutional investors and hedge funds own 33.08% of the company’s stock.
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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