FY2024 EPS Estimate for Thomson Reuters Reduced by Analyst

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Equities research analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for Thomson Reuters in a report issued on Tuesday, November 5th. National Bank Financial analyst A. Shine now forecasts that the business services provider will post earnings of $3.78 per share for the year, down from their prior forecast 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.

Other analysts have also recently issued reports about the company. StockNews.com cut Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Scotiabank boosted their price target on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Thomson Reuters currently has an average rating of “Hold” and a consensus target price of $176.33.

Thomson Reuters Stock Up 1.3 %

Thomson Reuters stock opened at $168.45 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. Thomson Reuters has a 12 month low of $127.68 and a 12 month high of $176.03. The stock has a market capitalization of $75.78 billion, a PE ratio of 32.33, a price-to-earnings-growth ratio of 5.55 and a beta of 0.73. The business has a 50 day simple moving average of $168.71 and a 200-day simple moving average of $166.61.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 15.22% and a net margin of 33.65%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share.

Hedge Funds Weigh In On Thomson Reuters

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRI. Rothschild Investment LLC acquired a new position in shares of Thomson Reuters in the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. Asset Dedication LLC lifted 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 purchasing an additional 130 shares during the last quarter. Clean Yield Group acquired a new position in shares of Thomson Reuters in the 3rd quarter valued at $42,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Thomson Reuters in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a yield of 1.28%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s payout ratio is 41.46%.

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.