Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) announced a quarterly dividend on Monday, October 8th, Zacks reports. Investors of record on Thursday, November 15th will be given a dividend of 0.35 per share by the business services provider on Monday, December 17th. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, November 14th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.35.
Thomson Reuters has increased its dividend payment by an average of 1.5% annually over the last three years and has raised its dividend every year for the last 10 years. Thomson Reuters has a payout ratio of 218.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Thomson Reuters to earn $1.27 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 110.2%.
Thomson Reuters stock traded up $0.17 during mid-day trading on Friday, reaching $48.20. 11,279 shares of the company’s stock traded hands, compared to its average volume of 1,733,627. The company has a market cap of $27.06 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 10.71 and a beta of 0.52. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.41. Thomson Reuters has a 12-month low of $36.52 and a 12-month high of $48.14.
Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “buy” rating on shares of Thomson Reuters in a research note on Thursday. National Bank Financial reissued a “buy” rating on shares of Thomson Reuters in a research note on Wednesday. Morgan Stanley set a $53.00 target price on shares of Thomson Reuters and gave the company a “buy” rating in a research note on Wednesday. Piper Jaffray Companies reissued a “hold” rating on shares of Thomson Reuters in a research note on Wednesday. Finally, TD Securities reissued a “buy” rating and issued a $69.00 target price on shares of Thomson Reuters in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $50.00.
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About Thomson Reuters
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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