National Bank Financial Analysts Increase Earnings Estimates for Thomson Reuters Corp (TRI)
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) – Analysts at National Bank Financial raised their Q4 2017 earnings estimates for Thomson Reuters Corp in a note issued to investors on Sunday. National Bank Financial analyst A. Shine now expects that the business services provider will post earnings of $0.65 per share for the quarter, up from their previous forecast of $0.63.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last released its earnings results on Wednesday, November 1st. The business services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Thomson Reuters Corp had a return on equity of 13.64% and a net margin of 26.81%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share.
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Other analysts have also issued research reports about the company. TD Securities raised Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Zacks Investment Research raised Thomson Reuters Corp from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Tuesday, September 5th. Deutsche Bank AG boosted their target price on Thomson Reuters Corp from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Macquarie raised Thomson Reuters Corp to a “buy” rating and boosted their target price for the company from $51.00 to $58.00 in a research report on Tuesday, October 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $49.00 target price (up previously from $48.00) on shares of Thomson Reuters Corp in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Thomson Reuters Corp presently has an average rating of “Hold” and an average price target of $52.00.
Several large investors have recently bought and sold shares of the business. State of Wisconsin Investment Board grew its stake in shares of Thomson Reuters Corp by 25.6% in the third quarter. State of Wisconsin Investment Board now owns 269,147 shares of the business services provider’s stock worth $12,321,000 after acquiring an additional 54,900 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of Thomson Reuters Corp in the third quarter worth $560,000. Cumberland Partners Ltd acquired a new position in shares of Thomson Reuters Corp in the third quarter worth $458,000. Cidel Asset Management Inc. grew its stake in shares of Thomson Reuters Corp by 8.9% in the third quarter. Cidel Asset Management Inc. now owns 89,158 shares of the business services provider’s stock worth $4,080,000 after acquiring an additional 7,301 shares in the last quarter. Finally, Intact Investment Management Inc. grew its stake in shares of Thomson Reuters Corp by 27.7% in the third quarter. Intact Investment Management Inc. now owns 708,048 shares of the business services provider’s stock worth $40,522,000 after acquiring an additional 153,800 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 16th will be paid a $0.345 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.38 annualized dividend and a dividend yield of 2.95%. Thomson Reuters Corp’s dividend payout ratio (DPR) is 33.91%.
Thomson Reuters Corp Company Profile
Thomson Reuters Corporation (Thomson Reuters) is a Canada-based provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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