FY2024 EPS Estimate for Thomson Reuters Lowered by Analyst

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Equities research analysts at National Bank Financial reduced their FY2024 EPS estimates for shares of 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 post earnings of $3.76 per share for the year, down from their previous estimate 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.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share.

TRI has been the topic of several other reports. Royal Bank of Canada upped their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. CIBC upped their price target on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Wells Fargo & Company initiated coverage on shares of Thomson Reuters in a report on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price target for the company. StockNews.com raised shares of Thomson Reuters from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Scotiabank boosted their target price on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Eight research 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 company currently has a consensus rating of “Hold” and a consensus price target of $176.10.

Thomson Reuters Trading Up 2.0 %

Shares of TRI stock opened at $162.40 on Monday. The stock has a market cap of $73.08 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 5.03 and a beta of 0.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. Thomson Reuters has a 52-week low of $148.16 and a 52-week high of $176.03. The firm has a fifty day moving average of $162.84 and a 200-day moving average of $165.26.

Institutional Investors Weigh In On Thomson Reuters

A number of institutional investors and hedge funds have recently modified their holdings of the business. National Bank of Canada FI grew its holdings in Thomson Reuters by 115.7% during the 3rd 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. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Thomson Reuters by 11.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock valued at $439,665,000 after acquiring an additional 255,387 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Thomson Reuters by 87.1% in the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after acquiring an additional 235,145 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Thomson Reuters by 909.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock worth $35,815,000 after acquiring an additional 189,199 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Thomson Reuters during the third quarter valued at approximately $29,250,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, November 21st. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio (DPR) is 42.52%.

Thomson Reuters Company Profile

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.