Thomson Reuters Co. (NYSE:TRI) Expected to Post Quarterly Sales of $1.49 Billion

Wall Street analysts expect that Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) will announce sales of $1.49 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Thomson Reuters’ earnings. The lowest sales estimate is $1.48 billion and the highest is $1.50 billion. Thomson Reuters reported sales of $1.44 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.5%. The company is expected to announce its next earnings report before the market opens on Tuesday, November 2nd.

According to Zacks, analysts expect that Thomson Reuters will report full year sales of $6.27 billion for the current financial year, with estimates ranging from $6.25 billion to $6.30 billion. For the next financial year, analysts expect that the business will post sales of $6.56 billion, with estimates ranging from $6.54 billion to $6.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Thomson Reuters.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, August 5th. The business services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Thomson Reuters had a net margin of 111.93% and a return on equity of 7.89%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share.

A number of research analysts have recently issued reports on TRI shares. National Bank Financial lifted their target price on shares of Thomson Reuters from C$145.00 to C$162.00 and gave the company a “sector perform” rating in a research note on Thursday, September 2nd. Canaccord Genuity lowered shares of Thomson Reuters from a “buy” rating to a “hold” rating and raised their price target for the company from $102.00 to $108.00 in a report on Friday, August 6th. Morgan Stanley lifted their target price on shares of Thomson Reuters from $105.00 to $106.00 and gave the stock an “equal weight” rating in a report on Thursday, September 23rd. TD Securities raised shares of Thomson Reuters from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Wednesday, October 6th. Finally, Royal Bank of Canada lifted their target price on shares of Thomson Reuters from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, August 6th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $124.60.

TRI traded up $0.50 during midday trading on Wednesday, reaching $115.76. 499,722 shares of the company’s stock were exchanged, compared to its average volume of 451,982. The firm has a market capitalization of $57.11 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 5.13 and a beta of 0.45. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.24. Thomson Reuters has a one year low of $77.10 and a one year high of $120.31. The business has a 50-day simple moving average of $114.76 and a two-hundred day simple moving average of $103.10.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Thursday, August 19th were given a $0.405 dividend. The ex-dividend date was Wednesday, August 18th. This represents a $1.62 annualized dividend and a yield of 1.40%. Thomson Reuters’s dividend payout ratio is currently 88.04%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Country Club Trust Company n.a. lifted its position in Thomson Reuters by 47.3% in the 3rd quarter. Country Club Trust Company n.a. now owns 3,738 shares of the business services provider’s stock valued at $414,000 after acquiring an additional 1,200 shares in the last quarter. FDx Advisors Inc. lifted its position in Thomson Reuters by 11.8% in the 3rd quarter. FDx Advisors Inc. now owns 13,401 shares of the business services provider’s stock valued at $1,481,000 after acquiring an additional 1,419 shares in the last quarter. Veriti Management LLC bought a new stake in Thomson Reuters in the 3rd quarter valued at $237,000. Parametric Portfolio Associates LLC lifted its position in Thomson Reuters by 17.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 403,914 shares of the business services provider’s stock valued at $40,117,000 after acquiring an additional 60,120 shares in the last quarter. Finally, West Branch Capital LLC bought a new stake in Thomson Reuters in the 2nd quarter valued at $31,000. 21.76% of the stock is currently owned by institutional investors and hedge funds.

About Thomson Reuters

Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following segments: Legal Professionals, Corporates, Tax and Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment provides research and workflow products to law firms and government.

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