FY2024 EPS Estimate for Thomson Reuters Decreased by Analyst

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Research analysts at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for Thomson Reuters in a research note issued to investors on Thursday, January 16th. National Bank Financial analyst A. Shine now expects that the business services provider will earn $3.76 per share for the year, down from their prior forecast of $3.78. The consensus estimate for Thomson Reuters’ current full-year earnings is $3.69 per share. National Bank Financial also issued estimates for Thomson Reuters’ Q4 2024 earnings at $1.00 EPS and FY2025 earnings at $3.87 EPS.

Several other research analysts also recently commented on TRI. Scotiabank raised their price objective on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company assumed coverage on Thomson Reuters in a research note on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price objective for the company. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, CIBC lifted their price objective on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $176.10.

Thomson Reuters Trading Up 0.8 %

Shares of NYSE TRI opened at $159.37 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50 day moving average price is $163.04 and its 200-day moving average price is $165.35. Thomson Reuters has a fifty-two week low of $148.08 and a fifty-two week high of $176.03. The company has a market cap of $71.71 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 4.89 and a beta of 0.72.

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

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a $0.54 dividend. The ex-dividend date was Thursday, November 21st. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a yield of 1.36%. Thomson Reuters’s dividend payout ratio is currently 42.52%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRI. FMR LLC lifted its stake in Thomson Reuters by 0.8% during the third quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock worth $1,229,716,000 after purchasing an additional 57,854 shares in the last quarter. Fiera Capital Corp increased its position in shares of Thomson Reuters by 1.0% during the third quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock worth $458,559,000 after acquiring an additional 27,714 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Thomson Reuters by 11.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after acquiring an additional 255,387 shares during the period. Clearbridge Investments LLC increased its position in shares of Thomson Reuters by 9.4% during the second quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider’s stock worth $245,893,000 after acquiring an additional 125,167 shares during the period. Finally, National Bank of Canada FI increased its position in shares of Thomson Reuters by 115.7% during the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock worth $164,292,000 after acquiring an additional 516,715 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

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.