Thomson Reuters Co. (NYSE:TRI) Forecasted to Earn Q1 2024 Earnings of $0.97 Per Share

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Equities research analysts at National Bank Financial issued their Q1 2024 EPS estimates for shares of Thomson Reuters in a research note issued on Monday, April 22nd. National Bank Financial analyst A. Shine anticipates that the business services provider will earn $0.97 per share for the quarter. National Bank Financial has a “Sector Perform” rating on the stock. The consensus estimate for Thomson Reuters’ current full-year earnings is $3.58 per share. National Bank Financial also issued estimates for Thomson Reuters’ Q2 2024 earnings at $0.83 EPS, Q3 2024 earnings at $0.78 EPS and Q4 2024 earnings at $0.94 EPS.

Several other research analysts have also recently issued reports on TRI. CIBC upped their target price on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Barclays upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $150.00 to $180.00 in a report on Thursday, March 14th. Scotiabank upped their target price on shares of Thomson Reuters from $142.00 to $159.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $153.00 target price on shares of Thomson Reuters in a report on Wednesday, March 13th. Finally, TD Securities upped their target price on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $157.42.

Thomson Reuters Trading Down 0.6 %

Shares of Thomson Reuters stock opened at $152.67 on Wednesday. The company has a fifty day simple moving average of $155.77 and a 200-day simple moving average of $145.09. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $161.57. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. The stock has a market cap of $68.92 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.98 and a beta of 0.65.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted 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 net margin of 39.67% and a return on equity of 14.01%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business posted $0.76 EPS. The firm’s revenue was up 2.8% on a year-over-year basis.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Wednesday, February 21st were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Tuesday, February 20th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.49. Thomson Reuters’s dividend payout ratio (DPR) is 36.99%.

Institutional Trading of Thomson Reuters

Several hedge funds have recently made changes to their positions in the company. Trust Co. of Vermont acquired a new stake in shares of Thomson Reuters in the third quarter valued at about $27,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Thomson Reuters in the third quarter valued at about $28,000. Pacifica Partners Inc. lifted its stake in shares of Thomson Reuters by 162.0% in the fourth quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 149 shares during the period. Operose Advisors LLC acquired a new stake in shares of Thomson Reuters in the third quarter valued at about $37,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Thomson Reuters in the fourth quarter valued at about $37,000. Institutional investors and hedge funds 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.