Thomson Reuters Corp (NASDAQ:TRI) Shares Set to Pay Quarterly Dividend of $0.66

Key Points

• Thomson Reuters declared a quarterly dividend of $0.655 per share, payable December 10 to shareholders of record November 18. The annualized dividend is $2.62, yielding about 2.4%.
• The dividend appears covered by earnings: its payout ratio is 71.2%, with analysts expecting it to fall to 52.0% next year. Dividend payments have declined by an average of 0.1% annually over the past three years.
• Quarterly EPS of $0.81 narrowly missed estimates of $0.82, while revenue rose 2.9% year over year; the stock was reported down 9.9%. Analysts’ average rating was “Moderate Buy,” with a $127.99 price target.

Thomson Reuters Corp (NASDAQ:TRI - Get Free Report) announced a quarterly dividend on Monday, November 2nd. Investors of record on Wednesday, November 18th will be paid a dividend of $0.6550 per share on Thursday, December 10th. This represents a $2.62 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, November 18th.

Thomson Reuters has decreased its dividend payment by an average of 0.1% annually over the last three years. Thomson Reuters has a dividend payout ratio of 71.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Thomson Reuters to earn $5.04 per share next year, which means the company should continue to be able to cover its $2.62 annual dividend with an expected future payout ratio of 52.0%.

Thomson Reuters Stock Down 9.9%

NASDAQ TRI traded down $12.06 on Tuesday, reaching $110.18. The company had a trading volume of 3,021,591 shares, compared to its average volume of 2,151,008. The stock has a market capitalization of $47.75 billion, a P/E ratio of 29.33, a P/E/G ratio of 2.23 and a beta of 0.69. The company's fifty day moving average is $105.15 and its 200 day moving average is $97.33. Thomson Reuters has a 52-week low of $76.28 and a 52-week high of $157.63. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%. During the same quarter in the previous year, the company earned $0.85 EPS. The company's revenue was up 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Thomson Reuters will post 4.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on TRI. Weiss Ratings raised shares of Thomson Reuters from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 15th. Morgan Stanley set a $110.00 target price on shares of Thomson Reuters and gave the stock an "equal weight" rating in a research report on Tuesday, October 13th. Scotia cut their target price on Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a research note on Thursday, August 6th. RBC Dominion Securities upped their target price on Thomson Reuters from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, October 28th. Finally, Scotiabank reaffirmed a "sector outperform" rating and issued a $135.00 target price on shares of Thomson Reuters in a report on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Thomson Reuters presently has an average rating of "Moderate Buy" and an average price target of $127.99.

About Thomson Reuters

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.

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