Thomson Reuters (NYSE:TRI) Lifted to “Sector Perform” at National Bank Financial

Thomson Reuters (NYSE:TRI) (TSE:TRI) was upgraded by National Bank Financial from an “underperform” rating to a “sector perform” rating in a report issued on Tuesday, MarketBeat.com reports. National Bank Financial also issued estimates for Thomson Reuters’ Q1 2024 earnings at $0.97 EPS, Q2 2024 earnings at $0.83 EPS, Q3 2024 earnings at $0.78 EPS and Q4 2024 earnings at $0.94 EPS.

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

Thomson Reuters Price Performance

Shares of Thomson Reuters stock opened at $152.67 on Tuesday. The firm has a market capitalization of $68.92 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.98 and a beta of 0.65. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. Thomson Reuters has a 12 month low of $117.46 and a 12 month high of $161.57. The business’s 50-day moving average price is $155.77 and its 200-day moving average price is $145.09.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates 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 for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. Sell-side analysts forecast that Thomson Reuters will post 3.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Thomson Reuters

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp lifted its position in shares of Thomson Reuters by 17.3% in the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after purchasing an additional 919,603 shares during the period. Vanguard Group Inc. lifted its position in Thomson Reuters by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,698,178 shares of the business services provider’s stock valued at $833,188,000 after acquiring an additional 52,138 shares during the period. FMR LLC lifted its position in Thomson Reuters by 26.3% during the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock valued at $692,059,000 after acquiring an additional 1,179,155 shares during the period. FIL Ltd lifted its position in Thomson Reuters by 9.8% during the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after acquiring an additional 445,444 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Thomson Reuters by 6.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock valued at $500,872,000 after acquiring an additional 240,148 shares during the period. 17.31% of the stock is owned by hedge funds and other institutional investors.

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.