Thomson Reuters (NYSE:TRI) Stock Rating Upgraded by National Bank Financial

National Bank Financial upgraded shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from an underperform rating to a sector perform rating in a report published on Tuesday, Marketbeat.com reports. National Bank Financial also issued estimates for Thomson Reuters’ Q1 2024 earnings at $0.97 EPS, Q2 2024 earnings at $0.83 EPS, Q3 2024 earnings at $0.78 EPS, Q4 2024 earnings at $0.94 EPS and FY2025 earnings at $4.07 EPS.

Other equities analysts have also issued research reports about the stock. TD Securities lifted 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. Scotiabank lifted 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 set a $153.00 target price on shares of Thomson Reuters in a report on Wednesday, March 13th. Barclays upgraded shares of Thomson Reuters from an equal weight rating to an overweight rating and lifted their target price for the company from $150.00 to $180.00 in a report on Thursday, March 14th. Finally, CIBC lifted 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. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $157.42.

Thomson Reuters Stock Down 0.0 %

Shares of TRI opened at $152.57 on Tuesday. The firm has a market cap of $68.87 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 3.97 and a beta of 0.65. The company’s fifty day moving average is $155.64 and its two-hundred day moving average is $145.15. Thomson Reuters has a fifty-two week low of $117.46 and a fifty-two week high of $161.57. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.82 billion. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. Thomson Reuters’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $0.76 EPS. Analysts forecast that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 21st were issued a $0.54 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $2.16 dividend on an annualized basis and a yield of 1.42%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.49. Thomson Reuters’s payout ratio is currently 36.99%.

Institutional Investors Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in shares of Thomson Reuters in the 4th quarter worth about $11,438,000. Checchi Capital Advisers LLC increased its position in shares of Thomson Reuters by 3.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,052 shares of the business services provider’s stock worth $741,000 after purchasing an additional 201 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of Thomson Reuters in the 4th quarter worth about $2,954,000. Sapient Capital LLC bought a new stake in shares of Thomson Reuters in the 4th quarter worth about $13,461,000. Finally, Larson Financial Group LLC increased its position in shares of Thomson Reuters by 0.9% in the 4th quarter. Larson Financial Group LLC now owns 16,298 shares of the business services provider’s stock worth $2,383,000 after purchasing an additional 146 shares during the last quarter. 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.