Thomson Reuters Corp (TRI) Posts Earnings Results, Beats Expectations By $0.09 EPS

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) posted its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.09, MarketWatch Earnings reports. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.78 billion. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. Thomson Reuters Corp updated its FY17 guidance to $2.40-2.45 EPS.

Thomson Reuters Corp (NYSE:TRI) opened at 45.85 on Friday. The stock has a 50 day moving average of $46.30 and a 200-day moving average of $44.53. The company has a market cap of $32.77 billion, a price-to-earnings ratio of 11.26 and a beta of 0.75. Thomson Reuters Corp has a one year low of $39.23 and a one year high of $48.57.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Tuesday, August 15th. Thomson Reuters Corp’s payout ratio is 33.91%.

Large investors have recently made changes to their positions in the company. Omnia Family Wealth LLC boosted its stake in shares of Thomson Reuters Corp by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 3,538 shares of the business services provider’s stock valued at $164,000 after buying an additional 10 shares in the last quarter. Community Financial Services Group LLC boosted its stake in shares of Thomson Reuters Corp by 0.5% in the first quarter. Community Financial Services Group LLC now owns 42,076 shares of the business services provider’s stock valued at $1,819,000 after buying an additional 220 shares in the last quarter. Creative Planning boosted its stake in shares of Thomson Reuters Corp by 5.1% in the first quarter. Creative Planning now owns 5,743 shares of the business services provider’s stock valued at $248,000 after buying an additional 279 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Thomson Reuters Corp by 6.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 5,528 shares of the business services provider’s stock valued at $239,000 after buying an additional 343 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in shares of Thomson Reuters Corp by 0.8% in the second quarter. Suntrust Banks Inc. now owns 47,521 shares of the business services provider’s stock valued at $2,199,000 after buying an additional 368 shares in the last quarter. Institutional investors own 26.54% of the company’s stock.

Thomson Reuters Corp declared that its Board of Directors has approved a share buyback program on Wednesday, May 24th that authorizes the company to repurchase 36,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Several research firms recently weighed in on TRI. Zacks Investment Research cut shares of Thomson Reuters Corp from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Royal Bank Of Canada set a $45.00 price target on shares of Thomson Reuters Corp and gave the stock a “hold” rating in a report on Thursday, July 27th. BMO Capital Markets boosted their target price on shares of Thomson Reuters Corp from $64.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, May 2nd. Macquarie upgraded shares of Thomson Reuters Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 15th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $50.00 target price on shares of Thomson Reuters Corp in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.83.

Thomson Reuters Corp Company Profile

Thomson Reuters Corporation (Thomson Reuters) is a 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 segment is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.

Earnings History for Thomson Reuters Corp (NYSE:TRI)

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