FY2024 EPS Estimates for Thomson Reuters Cut by Analyst

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – National Bank Financial cut their FY2024 earnings per share (EPS) estimates for shares of Thomson Reuters in a report issued on Tuesday, November 5th. National Bank Financial analyst A. Shine now expects that the business services provider will post earnings per share of $3.78 for the year, down from their previous estimate of $3.80. National Bank Financial 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.

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

A number of other research firms also recently issued reports on TRI. Royal Bank of Canada raised their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Scotiabank upped their price target on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $176.33.

Thomson Reuters Stock Down 0.1 %

TRI opened at $168.23 on Friday. The stock has a market capitalization of $75.68 billion, a price-to-earnings ratio of 33.12, a PEG ratio of 5.59 and a beta of 0.73. The firm has a 50 day moving average price of $168.63 and a 200-day moving average price of $166.72. Thomson Reuters has a twelve month low of $129.02 and a twelve 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.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost 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 42.52%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Advisors Asset Management Inc. lifted its position in shares of Thomson Reuters by 73.5% in the third quarter. Advisors Asset Management Inc. now owns 4,265 shares of the business services provider’s stock valued at $728,000 after acquiring an additional 1,807 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Thomson Reuters by 11.0% during 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. Hilton Capital Management LLC lifted its holdings in Thomson Reuters by 1.8% in the 3rd quarter. Hilton Capital Management LLC now owns 83,169 shares of the business services provider’s stock worth $14,189,000 after purchasing an additional 1,460 shares in the last quarter. West Family Investments Inc. boosted its stake in Thomson Reuters by 3.1% in the 3rd quarter. West Family Investments Inc. now owns 4,216 shares of the business services provider’s stock worth $719,000 after purchasing an additional 126 shares during the period. Finally, Banque Cantonale Vaudoise grew its holdings in Thomson Reuters by 5,169.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 5,586 shares of the business services provider’s stock valued at $954,000 after buying an additional 5,480 shares in the last quarter. Hedge funds and other institutional investors 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.