Thomson Reuters (NYSE:TRI) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Thomson Reuters (NYSE:TRI) (TSE:TRI) posted its quarterly earnings results on Tuesday. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03, Briefing.com reports. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. Thomson Reuters updated its FY 2024 guidance to EPS.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock opened at $168.38 on Thursday. The firm has a market cap of $75.75 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 5.55 and a beta of 0.73. Thomson Reuters has a 52 week low of $127.68 and a 52 week high of $176.03. The business’s fifty day simple moving average is $168.71 and its 200-day simple moving average is $166.61. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be given a $0.54 dividend. The ex-dividend date is Thursday, November 21st. This is a positive change 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 1.28%. Thomson Reuters’s dividend payout ratio is 41.46%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TRI. Royal Bank of Canada boosted 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. StockNews.com downgraded shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Wednesday. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Scotiabank increased their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $176.33.

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.