Thomson Reuters Co. (NYSE:TRI – Get Rating) (TSE:TRI) declared a quarterly dividend on Friday, August 5, The Wall Street Journal reports. Shareholders of record on Thursday August 18 will receive a dividend of 0.445 per share from the business services provider on Thursday September 15. This represents an annualized dividend of $1.78 and a dividend yield of 1.56%. The ex-dividend date is Wednesday, August 17.
Thomson Reuters has a dividend payout ratio of 52.8%, indicating that its dividend is sufficiently covered by earnings. Stock analysts expect Thomson Reuters to earn $3.42 per share next year, meaning the company should continue to be able to cover its $1.78 annual dividend with a payout ratio. expected future of 52.0%.
Thomson Reuters share performance
Shares of TRI were down $1.49 on Friday, hitting $114.06. 84,478 shares were traded, against an average volume of 507,061. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt ratio of 0.26. The company has a market capitalization of $55.32 billion, a PE ratio of 33.77, a P/E/G ratio of 3.34 and a beta of 0.54. Thomson Reuters has a 1-year low of $91.55 and a 1-year high of $123.60. The company’s 50-day moving average is $103.78 and its two-hundred-day moving average is $103.33.
Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) last reported earnings on Tuesday, May 3. The business services provider reported EPS of $0.66 for the quarter, beating the consensus estimate of $0.64 by $0.02. Thomson Reuters had a return on equity of 6.83% and a net margin of 25.77%. The company posted revenue of $1.67 billion in the quarter, versus a consensus estimate of $1.66 billion. In the same quarter last year, the company achieved EPS of $0.58. The company’s revenue increased by 5.9% compared to the same quarter last year. Sell-side analysts expect Thomson Reuters to post earnings per share of 2.45 for the current fiscal year.
A Wall Street analyst gives his opinion
A number of equity analysts have weighed in on TRI stocks recently. Canaccord Genuity Group raised its price target on Thomson Reuters from $115.00 to $122.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded Thomson Reuters from a “sell” to a “hold” rating in a Tuesday, May 17 research report. Barclays lowered its price target on Thomson Reuters from $125.00 to $115.00 and set an “equal weight” rating on the stock in a Friday July 1 research report. Royal Bank of Canada raised its price target on Thomson Reuters from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday. Finally, CIBC upgraded Thomson Reuters from a “neutral” rating to an “sector outperformer” rating in a Tuesday, June 14 research note. Six investment analysts gave the stock a hold rating and seven gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.00.
Institutional investors weigh in on Thomson Reuters
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Thomson Reuters by 2.3% during the first quarter. Vanguard Group Inc. now owns 5,314,854 shares of the business services provider valued at $578,521,000 after purchasing an additional 118,225 shares during the period. 1832 Asset Management LP increased its position in Thomson Reuters by 13.5% during the first quarter. 1832 Asset Management LP now owns 684,160 shares of the business services provider valued at $73,362,000 after purchasing an additional 81,147 shares during the period. First Trust Advisors LP increased its position in Thomson Reuters by 9.4% in the first quarter. First Trust Advisors LP now owns 582,999 shares of the business services provider valued at $63,456,000 after purchasing an additional 50,096 shares during the period. BlackRock Inc. increased its position in Thomson Reuters by 11.4% during the first quarter. BlackRock Inc. now owns 560,049 shares of the business services provider valued at $60,961,000 after purchasing an additional 57,200 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Thomson Reuters by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 406,034 shares of the business services provider valued at $44,197,000 after purchasing an additional 10,831 shares during the period. 21.17% of the shares are currently held by hedge funds and other institutional investors.
Thomson Reuters Company Profile
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Thomson Reuters Corporation provides business information services in the Americas, Europe, the Middle East, Africa and Asia-Pacific. It operates in five segments: Legal Professionals, Corporate, Tax and Accounting Professionals, Reuters News and Global Print. The Legal Professionals segment offers research and workflow products focused on legal research and integrated legal workflow solutions that combine content, tools and analytics to law firms and governments.
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