Brokers Offer Predictions for Thomson Reuters Co.’s Q2 2024 Earnings (NYSE:TRI)

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Research analysts at National Bank Financial reduced their Q2 2024 earnings per share estimates for shares of Thomson Reuters in a report issued on Thursday, May 2nd. National Bank Financial analyst A. Shine now forecasts that the business services provider will earn $0.74 per share for the quarter, down from their prior forecast of $0.83. National Bank Financial currently 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’ Q3 2024 earnings at $0.76 EPS, Q4 2024 earnings at $0.89 EPS, FY2024 earnings at $3.50 EPS and FY2026 earnings at $4.55 EPS.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis.

Several other research analysts have also recently weighed in on the stock. TD Securities upped their price target 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. Canaccord Genuity Group lifted their target price on Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research report on Friday. Royal Bank of Canada upped their price target on Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 30th. CIBC lifted their price objective on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a report on Friday. Finally, Scotiabank raised their price objective on Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a report on Friday. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $164.31.

Thomson Reuters Trading Up 1.4 %

NYSE TRI opened at $167.07 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $75.40 billion, a P/E ratio of 31.82, a P/E/G ratio of 4.52 and a beta of 0.65. The stock’s 50-day moving average is $155.54 and its 200-day moving average is $146.98. Thomson Reuters has a one year low of $117.46 and a one year high of $168.28.

Thomson Reuters Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be paid a $0.54 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.16 dividend on an annualized basis and a yield of 1.29%. Thomson Reuters’s dividend payout ratio (DPR) is currently 41.14%.

Hedge Funds Weigh In On Thomson Reuters

A number of large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Thomson Reuters by 1.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock worth $622,000 after buying an additional 70 shares during the period. Fifth Third Bancorp grew its holdings in shares of Thomson Reuters by 25.7% during the 4th quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock worth $56,000 after purchasing an additional 78 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Thomson Reuters by 0.7% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 12,685 shares of the business services provider’s stock worth $1,855,000 after purchasing an additional 82 shares during the period. Gulf International Bank UK Ltd raised its stake in Thomson Reuters by 5.8% in the first quarter. Gulf International Bank UK Ltd now owns 1,541 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 85 shares in the last quarter. Finally, Advisor OS LLC lifted its holdings in shares of Thomson Reuters by 5.2% during the 3rd quarter. Advisor OS LLC now owns 1,730 shares of the business services provider’s stock worth $212,000 after acquiring an additional 86 shares during the period. Institutional investors own 17.31% of the company’s stock.

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.