FY2024 EPS Estimate for Thomson Reuters Decreased by Analyst

Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI - Analysts at National Bank Financial dropped their FY2024 EPS estimates for shares of Thomson Reuters in a report released on Tuesday, November 5th. National Bank Financial analyst A. Shine now expects that the business services provider will post earnings of $3.78 per share for the year, down from their prior estimate of $3.80. National Bank Financial currently has a "Outperform" rating on the stock. The consensus estimate for Thomson Reuters' current full-year earnings is $3.71 per share. National Bank Financial also issued estimates for Thomson Reuters' Q4 2024 earnings at $1.02 EPS, FY2025 earnings at $3.89 EPS and FY2026 earnings at $4.35 EPS.

A number of other analysts also recently commented on the stock. Scotiabank boosted their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a "sector outperform" rating in a report on Wednesday. Royal Bank of Canada increased their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a "sector perform" rating in a research report on Wednesday. StockNews.com cut Thomson Reuters from a "hold" rating to a "sell" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on Thomson Reuters from $163.00 to $164.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $176.33.

Thomson Reuters Price Performance

Thomson Reuters stock traded down $0.13 during midday trading on Friday, hitting $168.27. The company's stock had a trading volume of 165,165 shares, compared to its average volume of 354,932. Thomson Reuters has a 12 month low of $129.02 and a 12 month high of $176.03. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock's 50-day moving average price is $168.71 and its 200-day moving average price is $166.61. The company has a market capitalization of $75.70 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 5.59 and a beta of 0.73.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results 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 firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS.

Institutional Trading of Thomson Reuters

Large investors have recently made changes to their positions in the stock. TD Asset Management Inc boosted its position in Thomson Reuters by 7.9% during the first quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider's stock worth $630,534,000 after purchasing an additional 295,301 shares during the period. Cibc World Market Inc. grew its stake in Thomson Reuters by 26.3% in the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider's stock valued at $223,525,000 after buying an additional 276,206 shares during the last quarter. MUFG Securities EMEA plc bought a new position in Thomson Reuters in the 2nd quarter worth $45,514,000. Toronto Dominion Bank lifted its position in Thomson Reuters by 87.1% during the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider's stock worth $85,136,000 after acquiring an additional 235,145 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Thomson Reuters during the third quarter valued at about $29,250,000. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.28%. This is an increase from Thomson Reuters's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 21st. Thomson Reuters's dividend payout ratio is presently 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.