Thomson Reuters Co. to Issue Quarterly Dividend of $0.45 (NYSE:TRI)

Thomson Reuters Co. (NYSE:TRIGet Rating) (TSE:TRI) declared a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Stockholders of record on Thursday, August 18th will be given a dividend of 0.445 per share by the business services provider on Thursday, September 15th. This represents a $1.78 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, August 17th.

Thomson Reuters has a dividend payout ratio of 52.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Thomson Reuters to earn $3.42 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 52.0%.

Thomson Reuters Stock Performance

Shares of TRI stock traded down $1.49 on Friday, hitting $114.06. 84,478 shares of the stock were exchanged, compared to its average volume of 507,061. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $55.32 billion, a PE ratio of 33.77, a P/E/G ratio of 3.34 and a beta of 0.54. Thomson Reuters has a one year low of $91.55 and a one year high of $123.60. The firm’s 50 day moving average is $103.78 and its two-hundred day moving average is $103.33.

Thomson Reuters (NYSE:TRIGet Rating) (TSE:TRI) last issued its earnings results on Tuesday, May 3rd. The business services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Thomson Reuters had a return on equity of 6.83% and a net margin of 25.77%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the company earned $0.58 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. Sell-side analysts expect that Thomson Reuters will post 2.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TRI shares. Canaccord Genuity Group raised their price objective on Thomson Reuters from $115.00 to $122.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Barclays dropped their price target on Thomson Reuters from $125.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, July 1st. Royal Bank of Canada lifted their price objective on Thomson Reuters from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday. Finally, CIBC upgraded Thomson Reuters from a “neutral” rating to a “sector outperform” rating in a research note on Tuesday, June 14th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.00.

Institutional Investors Weigh In On Thomson Reuters

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Thomson Reuters by 2.3% during the first quarter. Vanguard Group Inc. now owns 5,314,854 shares of the business services provider’s stock valued at $578,521,000 after purchasing an additional 118,225 shares during the period. 1832 Asset Management L.P. raised its position in Thomson Reuters by 13.5% during the first quarter. 1832 Asset Management L.P. now owns 684,160 shares of the business services provider’s stock valued at $73,362,000 after purchasing an additional 81,147 shares during the period. First Trust Advisors LP raised its position in Thomson Reuters by 9.4% during the first quarter. First Trust Advisors LP now owns 582,999 shares of the business services provider’s stock valued at $63,456,000 after purchasing an additional 50,096 shares during the period. BlackRock Inc. raised its position in Thomson Reuters by 11.4% during the first quarter. BlackRock Inc. now owns 560,049 shares of the business services provider’s stock valued at $60,961,000 after purchasing an additional 57,200 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Thomson Reuters by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 406,034 shares of the business services provider’s stock valued at $44,197,000 after purchasing an additional 10,831 shares during the period. 21.17% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Company Profile

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Thomson Reuters Corporation provides business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting 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 to law firms and governments.

See Also

Dividend History for Thomson Reuters (NYSE:TRI)

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