FY2024 EPS Estimates for Thomson Reuters Reduced by Analyst

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Equities researchers at National Bank Financial cut their FY2024 earnings per share estimates for Thomson Reuters in a research note issued to investors on Thursday, January 16th. National Bank Financial analyst A. Shine now anticipates that the business services provider will post earnings per share of $3.76 for the year, down from their previous estimate 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.

Several other research firms also recently weighed in on TRI. CIBC lifted their price target on Thomson Reuters from $164.00 to $165.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Scotiabank raised their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a 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 target for the company. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $176.10.

Thomson Reuters Stock Performance

TRI opened at $159.37 on Monday. The firm has a fifty day moving average price of $163.04 and a 200 day moving average price of $165.33. The stock has a market cap of $71.72 billion, a P/E ratio of 31.37, a P/E/G ratio of 4.89 and a beta of 0.72. Thomson Reuters has a 1 year low of $148.08 and a 1 year high of $176.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $0.82 EPS. Thomson Reuters’s revenue for the quarter was up 8.2% on a year-over-year basis.

Thomson Reuters Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, November 21st. Thomson Reuters’s dividend payout ratio (DPR) is presently 42.52%.

Hedge Funds Weigh In On Thomson Reuters

Hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Thomson Reuters by 0.8% in the third quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock worth $1,229,716,000 after acquiring an additional 57,854 shares in the last quarter. Fiera Capital Corp raised its position in Thomson Reuters by 1.0% in the third quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock valued at $458,559,000 after purchasing an additional 27,714 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Thomson Reuters by 11.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after purchasing an additional 255,387 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Thomson Reuters by 9.4% in the second quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider’s stock worth $245,893,000 after buying an additional 125,167 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Thomson Reuters by 115.7% in the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock valued at $164,292,000 after buying an additional 516,715 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

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.