FY2024 EPS Forecast for Thomson Reuters Cut by Analyst

Thomson Reuters Co. (NYSE:TRIFree Report) (TSE:TRI) – Analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for Thomson Reuters in a report released on Thursday, January 16th. National Bank Financial analyst A. Shine now forecasts that the business services provider will earn $3.76 per share for the year, down from their prior forecast of $3.78. The consensus estimate for Thomson Reuters’ current full-year earnings is $3.69 per share. National Bank Financial also issued estimates for Thomson Reuters’ Q4 2024 earnings at $1.00 EPS and FY2025 earnings at $3.87 EPS.

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

Several other research firms also recently weighed in on TRI. Wells Fargo & Company initiated coverage on shares of Thomson Reuters in a report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price objective for the company. StockNews.com upgraded shares of Thomson Reuters from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Royal Bank of Canada boosted their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. Scotiabank boosted their price target on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, CIBC lifted their price objective on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Thomson Reuters has an average rating of “Hold” and an average target price of $176.10.

Get Our Latest Stock Analysis on TRI

Thomson Reuters Stock Up 0.8 %

NYSE:TRI opened at $159.37 on Monday. Thomson Reuters has a 52 week low of $148.08 and a 52 week high of $176.03. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $163.04 and a 200-day moving average of $165.33. The firm has a market capitalization of $71.72 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 4.89 and a beta of 0.72.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, November 21st. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 annualized dividend and a yield of 1.36%. Thomson Reuters’s dividend payout ratio is presently 42.52%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of Thomson Reuters by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 183,605 shares of the business services provider’s stock valued at $30,954,000 after acquiring an additional 9,571 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Thomson Reuters by 15.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,966 shares of the business services provider’s stock worth $1,680,000 after purchasing an additional 1,348 shares during the period. Blair William & Co. IL grew its position in shares of Thomson Reuters by 3.0% during the 2nd quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock valued at $385,000 after acquiring an additional 66 shares during the period. Bridges Investment Management Inc. raised its stake in shares of Thomson Reuters by 6.8% in the second quarter. Bridges Investment Management Inc. now owns 2,207 shares of the business services provider’s stock valued at $372,000 after buying an additional 141 shares during the period. Finally, Marshall Wace LLP bought a new position in Thomson Reuters during the second quarter worth about $303,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Thomson Reuters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thomson Reuters and related companies with MarketBeat.com's FREE daily email newsletter.