Brokerages Expect Thomson Reuters Corp (TRI) Will Announce Quarterly Sales of $1.31 Billion

Wall Street brokerages forecast that Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) will report $1.31 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Thomson Reuters’ earnings. The highest sales estimate is $1.32 billion and the lowest is $1.30 billion. Thomson Reuters reported sales of $2.78 billion in the same quarter last year, which indicates a negative year over year growth rate of 52.9%. The business is scheduled to report its next quarterly earnings report on Tuesday, August 7th.

On average, analysts expect that Thomson Reuters will report full-year sales of $5.50 billion for the current year, with estimates ranging from $5.45 billion to $5.54 billion. For the next financial year, analysts anticipate that the firm will report sales of $5.84 billion per share, with estimates ranging from $5.60 billion to $5.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Thomson Reuters.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Friday, May 11th. The business services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.30). Thomson Reuters had a return on equity of 11.61% and a net margin of 7.67%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis.

Several equities analysts have recently commented on the stock. ValuEngine upgraded shares of Thomson Reuters from a “sell” rating to a “hold” rating in a report on Monday, May 14th. Piper Jaffray Companies boosted their price target on shares of Thomson Reuters to $45.00 and gave the company a “neutral” rating in a report on Thursday. Scotiabank lowered their price target on shares of Thomson Reuters from $49.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, May 14th. Barclays lowered their price target on shares of Thomson Reuters from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, May 14th. Finally, Zacks Investment Research cut shares of Thomson Reuters from a “buy” rating to a “hold” rating in a report on Tuesday, May 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $46.43.

Shares of Thomson Reuters stock traded up $0.27 on Monday, hitting $41.06. 143,638 shares of the company traded hands, compared to its average volume of 1,128,052. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.40. Thomson Reuters has a 12-month low of $36.52 and a 12-month high of $48.61. The stock has a market cap of $29.18 billion, a P/E ratio of 16.31, a P/E/G ratio of 10.65 and a beta of 0.67.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 17th will be issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Wednesday, May 16th. Thomson Reuters’s dividend payout ratio is presently 54.98%.

A number of large investors have recently modified their holdings of the stock. Suntrust Banks Inc. boosted its holdings in Thomson Reuters by 22.3% in the first quarter. Suntrust Banks Inc. now owns 15,356 shares of the business services provider’s stock worth $593,000 after purchasing an additional 2,797 shares in the last quarter. CIBC World Markets Inc. boosted its holdings in Thomson Reuters by 36.1% in the first quarter. CIBC World Markets Inc. now owns 3,478,599 shares of the business services provider’s stock worth $134,448,000 after purchasing an additional 923,398 shares in the last quarter. Millennium Management LLC lifted its position in Thomson Reuters by 31.0% during the 1st quarter. Millennium Management LLC now owns 1,563,345 shares of the business services provider’s stock worth $60,423,000 after acquiring an additional 369,596 shares during the last quarter. Cowen Inc. acquired a new position in Thomson Reuters during the 1st quarter worth $566,000. Finally, Point72 Asset Management L.P. acquired a new position in Thomson Reuters during the 1st quarter worth $1,791,000. Hedge funds and other institutional investors own 24.54% 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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Earnings History and Estimates for Thomson Reuters (NYSE:TRI)

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