Wall Street brokerages predict that Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) will report $1.42 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Thomson Reuters’ earnings. The highest sales estimate is $1.43 billion and the lowest is $1.42 billion. Thomson Reuters posted sales of $1.29 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 10.1%. The firm is scheduled to issue its next earnings report before the market opens on Thursday, October 31st.
According to Zacks, analysts expect that Thomson Reuters will report full-year sales of $5.91 billion for the current year, with estimates ranging from $5.91 billion to $5.92 billion. For the next year, analysts expect that the company will post sales of $6.16 billion, with estimates ranging from $6.14 billion to $6.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Thomson Reuters.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, August 1st. The business services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Thomson Reuters had a return on equity of 5.16% and a net margin of 69.36%. Thomson Reuters’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share.
TRI has been the topic of a number of analyst reports. National Bank Financial cut Thomson Reuters from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 29th. Credit Suisse Group upgraded Thomson Reuters from a “neutral” rating to an “outperform” rating and upped their price target for the company from $70.00 to $80.00 in a research report on Monday, July 29th. BMO Capital Markets reiterated a “hold” rating and issued a $95.00 price target on shares of Thomson Reuters in a research report on Friday, August 2nd. Zacks Investment Research cut Thomson Reuters from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, Bank of America upped their price target on Thomson Reuters from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $70.59.
Several hedge funds have recently made changes to their positions in the company. Beutel Goodman & Co Ltd. boosted its holdings in Thomson Reuters by 100.0% in the second quarter. Beutel Goodman & Co Ltd. now owns 3,572,696 shares of the business services provider’s stock valued at $220,932,000 after acquiring an additional 1,786,691 shares during the last quarter. National Pension Service bought a new position in Thomson Reuters in the second quarter valued at about $35,738,000. Man Group plc boosted its holdings in Thomson Reuters by 115.2% in the second quarter. Man Group plc now owns 487,473 shares of the business services provider’s stock valued at $31,453,000 after acquiring an additional 260,958 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Thomson Reuters by 169.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 384,531 shares of the business services provider’s stock valued at $24,810,000 after buying an additional 241,968 shares during the period. Finally, Alberta Investment Management Corp lifted its stake in Thomson Reuters by 69.6% in the second quarter. Alberta Investment Management Corp now owns 555,370 shares of the business services provider’s stock valued at $46,918,000 after buying an additional 228,000 shares during the period. Institutional investors own 19.26% of the company’s stock.
NYSE:TRI traded down $0.04 during trading hours on Friday, reaching $66.70. The company had a trading volume of 217,000 shares, compared to its average volume of 485,899. The stock has a 50-day moving average of $67.50 and a two-hundred day moving average of $65.31. Thomson Reuters has a one year low of $46.45 and a one year high of $71.28. The firm has a market capitalization of $33.23 billion, a PE ratio of 88.93, a PEG ratio of 3.03 and a beta of 0.52. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.36.
Thomson Reuters Company Profile
Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.
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