Thomson Reuters Corp (NYSE:TRI) To Go Ex-Dividend on August 15th
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) declared a quarterly dividend on Tuesday, August 1st, Wall Street Journal reports. Shareholders of record on Thursday, August 17th will be given a dividend of 0.345 per share by the business services provider on Friday, September 15th. This represents a $1.38 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, August 15th.
Thomson Reuters Corp has raised its dividend by an average of 1.5% annually over the last three years and has increased its dividend every year for the last 9 years. Thomson Reuters Corp has a dividend payout ratio of 56.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Thomson Reuters Corp to earn $2.64 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 52.3%.
Thomson Reuters Corp (NYSE:TRI) opened at 46.97 on Thursday. The company has a market capitalization of $33.87 billion, a price-to-earnings ratio of 11.53 and a beta of 0.75. The firm’s 50-day moving average price is $46.33 and its 200 day moving average price is $44.46. Thomson Reuters Corp has a 12-month low of $39.23 and a 12-month high of $48.57.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.09. The business 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%. Thomson Reuters Corp’s revenue was up .5% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. On average, equities research analysts expect that Thomson Reuters Corp will post $2.44 EPS for the current fiscal year.
Thomson Reuters Corp declared that its board has authorized a stock buyback plan on Wednesday, May 24th that authorizes the company to repurchase 36,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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Several research analysts have weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies reissued a “hold” rating and issued a $50.00 price target on shares of Thomson Reuters Corp in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Thomson Reuters Corp from a “sell” rating to a “hold” rating and set a $53.00 price target on the stock in a report on Thursday, August 3rd. Canaccord Genuity set a $47.00 price target on shares of Thomson Reuters Corp and gave the company a “hold” rating in a report on Tuesday, August 1st. Finally, Scotiabank increased their price target on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Thomson Reuters Corp currently has an average rating of “Hold” and an average target price 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.
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