FY2024 EPS Estimates for Thomson Reuters Reduced by Analyst

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Equities researchers at National Bank Financial decreased their FY2024 earnings per share estimates for Thomson Reuters in a note issued to investors on Tuesday, November 5th. National Bank Financial analyst A. Shine now expects that the business services provider will post earnings per share of $3.78 for the year, down from their prior forecast of $3.80. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for Thomson Reuters’ current full-year earnings is $3.71 per share. National Bank Financial also issued estimates for Thomson Reuters’ Q4 2024 earnings at $1.02 EPS, FY2025 earnings at $3.89 EPS and FY2026 earnings at $4.35 EPS.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. Thomson Reuters’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS.

Several other analysts have also issued reports on the stock. Royal Bank of Canada upped their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research report on Wednesday. Scotiabank lifted their price target on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. StockNews.com lowered Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $176.33.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock opened at $168.23 on Friday. The stock has a market capitalization of $75.68 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 5.59 and a beta of 0.73. The company has a fifty day moving average of $168.63 and a 200-day moving average of $166.72. Thomson Reuters has a 52-week low of $129.02 and a 52-week high of $176.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.94.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.16 annualized dividend and a dividend yield of 1.28%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s payout ratio is currently 42.52%.

Institutional Trading of Thomson Reuters

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blair William & Co. IL increased its stake in shares of Thomson Reuters by 3.0% in the 2nd quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock worth $385,000 after acquiring an additional 66 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Thomson Reuters by 1.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock valued at $1,252,000 after buying an additional 74 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Thomson Reuters by 4.8% in the second quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock worth $277,000 after acquiring an additional 75 shares in the last quarter. Avitas Wealth Management LLC grew its stake in shares of Thomson Reuters by 0.4% in the second quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock worth $3,508,000 after acquiring an additional 79 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 80 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

About Thomson Reuters

Thomson Reuters Corporation engages in the provision of 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.