Research Analysts Set Expectations for Thomson Reuters Co.’s FY2024 Earnings (NYSE:TRI)

Thomson Reuters Co. (NYSE:TRIFree Report) (TSE:TRI) – National Bank Financial lowered their FY2024 earnings per share estimates for Thomson Reuters in a research note issued on Thursday, February 8th. National Bank Financial analyst A. Shine now expects that the business services provider will earn $3.52 per share for the year, down from their previous estimate of $3.68. The consensus estimate for Thomson Reuters’ current full-year earnings is $3.63 per share. National Bank Financial also issued estimates for Thomson Reuters’ FY2026 earnings at $4.56 EPS.

Thomson Reuters (NYSE:TRIGet Free Report) (TSE:TRI) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. Thomson Reuters had a return on equity of 14.01% and a net margin of 39.67%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business posted $0.76 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis.

A number of other research firms have also issued reports on TRI. Scotiabank lifted their target price on Thomson Reuters from $142.00 to $159.00 and gave the company a “sector perform” rating in a report on Friday. Morgan Stanley cut their price target on Thomson Reuters from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. CIBC raised their price target on Thomson Reuters from $130.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. BMO Capital Markets raised their price target on Thomson Reuters from $192.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Finally, UBS Group initiated coverage on Thomson Reuters in a research note on Tuesday, November 7th. They issued a “buy” rating and a $153.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $149.23.

View Our Latest Stock Report on Thomson Reuters

Thomson Reuters Trading Down 2.6 %

TRI opened at $154.56 on Monday. The firm has a market cap of $70.01 billion, a P/E ratio of 26.47, a P/E/G ratio of 4.08 and a beta of 0.65. The business has a fifty day simple moving average of $146.22 and a 200-day simple moving average of $135.15. Thomson Reuters has a 52 week low of $117.46 and a 52 week high of $159.26. The company has a quick ratio of 1.05, a current ratio of 0.90 and a debt-to-equity ratio of 0.26.

Institutional Investors Weigh In On Thomson Reuters

A number of institutional investors have recently added to or reduced their stakes in TRI. Norges Bank acquired a new position in shares of Thomson Reuters during the 4th quarter worth approximately $207,419,000. Bank of Nova Scotia acquired a new position in Thomson Reuters in the 3rd quarter valued at $170,036,000. FMR LLC raised its holdings in Thomson Reuters by 26.3% in the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock valued at $692,059,000 after acquiring an additional 1,179,155 shares during the last quarter. Legal & General Group Plc raised its holdings in Thomson Reuters by 6,607,664.7% in the 3rd quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock valued at $138,048,000 after acquiring an additional 1,123,303 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings in shares of Thomson Reuters by 178.8% during the 3rd quarter. WCM Investment Management LLC now owns 1,711,051 shares of the business services provider’s stock worth $209,860,000 after buying an additional 1,097,339 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Wednesday, February 21st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Tuesday, February 20th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.49. Thomson Reuters’s payout ratio is currently 33.57%.

Thomson Reuters Company Profile

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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.

See Also

Earnings History and Estimates for Thomson Reuters (NYSE:TRI)

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