FY2024 EPS Estimates for Thomson Reuters Reduced by Analyst

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Investment analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for shares of Thomson Reuters in a 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.

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

Thomson Reuters Trading Up 2.0 %

Shares of TRI stock opened at $162.40 on Monday. Thomson Reuters has a fifty-two week low of $148.16 and a fifty-two week high of $176.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $162.84 and a 200 day simple moving average of $165.26. The stock has a market capitalization of $73.08 billion, a P/E ratio of 31.97, a P/E/G ratio of 5.03 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 analysts’ expectations of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share.

Institutional Trading of Thomson Reuters

Several hedge funds and other institutional investors have recently modified their holdings of TRI. Decker Retirement Planning Inc. acquired a new position in Thomson Reuters in the 4th quarter worth about $26,000. Asset Dedication LLC grew its stake in shares of Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after buying an additional 130 shares in the last quarter. Clean Yield Group bought a new position in Thomson Reuters during the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC bought a new position in Thomson Reuters during the third quarter valued at approximately $47,000. Finally, Exchange Traded Concepts LLC grew its position in Thomson Reuters by 104.4% in the third quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock worth $56,000 after acquiring an additional 167 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $0.54 dividend. The ex-dividend date was Thursday, November 21st. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.33%. Thomson Reuters’s dividend payout ratio 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.