FY2024 EPS Estimate for Thomson Reuters Decreased by Analyst

Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI - Research analysts at National Bank Financial dropped their FY2024 earnings estimates for Thomson Reuters in a report issued on Thursday, January 16th. National Bank Financial analyst A. Shine now expects that the business services provider will post earnings per share of $3.76 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.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. Thomson Reuters's quarterly revenue was up 8.2% on a year-over-year basis.

A number of other brokerages have also weighed in on TRI. Royal Bank of Canada raised their target price 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. StockNews.com upgraded shares of Thomson Reuters from a "sell" rating to a "hold" rating in a research report on Wednesday, January 8th. Wells Fargo & Company initiated coverage on shares of Thomson Reuters in a research report on Tuesday, November 26th. They set an "equal weight" rating and a $165.00 target price on the stock. CIBC raised their price target on shares of Thomson Reuters from $164.00 to $165.00 and gave the company a "neutral" rating in a report on Friday, January 3rd. Finally, Scotiabank upped 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. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $176.10.

Thomson Reuters Price Performance

TRI stock traded up $1.22 during trading on Monday, hitting $159.37. 206,689 shares of the stock traded hands, compared to its average volume of 177,189. The stock has a market cap of $71.72 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 4.89 and a beta of 0.72. Thomson Reuters has a one year low of $148.08 and a one year high of $176.03. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $163.04 and a 200 day simple moving average of $165.33.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, November 21st. This is an increase from Thomson Reuters's previous quarterly dividend of $0.15. Thomson Reuters's dividend payout ratio is presently 42.52%.

Institutional Trading of Thomson Reuters

Hedge funds have recently added to or reduced their stakes in the business. 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised 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 purchasing an additional 255,387 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Thomson Reuters by 87.1% in the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider's stock valued at $85,136,000 after purchasing an additional 235,145 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Thomson Reuters by 909.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider's stock worth $35,815,000 after buying an additional 189,199 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Thomson Reuters during the third quarter worth about $29,250,000. Institutional investors and hedge funds 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.