Brokers Issue Forecasts for Thomson Reuters Co.’s Q1 2024 Earnings (NYSE:TRI)

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of Thomson Reuters in a note issued to investors on Monday, April 22nd. National Bank Financial analyst A. Shine anticipates that the business services provider will post earnings of $0.97 per share for the quarter. National Bank Financial currently has a “Sector Perform” rating on the stock. The consensus estimate for Thomson Reuters’ current full-year earnings is $3.58 per share. National Bank Financial also issued estimates for Thomson Reuters’ Q2 2024 earnings at $0.83 EPS, Q3 2024 earnings at $0.78 EPS and Q4 2024 earnings at $0.94 EPS.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, February 8th. The business services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.82 billion. Thomson Reuters had a return on equity of 14.01% and a net margin of 39.67%. Thomson Reuters’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS.

Several other research analysts also recently issued reports on the company. Barclays raised Thomson Reuters from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $150.00 to $180.00 in a report on Thursday, March 14th. Scotiabank upped their price objective on Thomson Reuters from $142.00 to $159.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $153.00 price objective on shares of Thomson Reuters in a report on Wednesday, March 13th. TD Securities upped their price objective on Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Finally, CIBC upped their price objective on Thomson Reuters from $146.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $157.42.

Thomson Reuters Stock Up 0.4 %

Shares of TRI opened at $153.59 on Wednesday. The business’s 50 day simple moving average is $155.86 and its 200-day simple moving average is $145.04. Thomson Reuters has a one year low of $117.46 and a one year high of $161.57. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $69.33 billion, a P/E ratio of 26.30, a PEG ratio of 3.98 and a beta of 0.65.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 21st were given a $0.54 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.49. Thomson Reuters’s dividend payout ratio is currently 36.99%.

Institutional Trading of Thomson Reuters

A number of large investors have recently made changes to their positions in TRI. Trust Co. of Vermont bought a new stake in shares of Thomson Reuters in the 3rd quarter valued at $27,000. FinTrust Capital Advisors LLC bought a new stake in shares of Thomson Reuters in the 3rd quarter valued at $28,000. Pacifica Partners Inc. increased its position in shares of Thomson Reuters by 162.0% in the 4th quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock valued at $34,000 after buying an additional 149 shares in the last quarter. Operose Advisors LLC bought a new stake in shares of Thomson Reuters in the 3rd quarter valued at $37,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Thomson Reuters in the 4th quarter valued at $37,000. Institutional investors own 17.31% of the company’s stock.

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.