Thomson Reuters Co. Expected to Earn Q3 2024 Earnings of $0.73 Per Share (NYSE:TRI)

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Research analysts at National Bank Financial cut their Q3 2024 earnings per share (EPS) estimates for shares of Thomson Reuters in a research report issued to clients and investors on Thursday, August 1st. National Bank Financial analyst A. Shine now forecasts that the business services provider will post earnings of $0.73 per share for the quarter, down from their prior estimate of $0.76. National Bank Financial currently has a “Sector Perform” rating on the stock. The consensus estimate for Thomson Reuters’ current full-year earnings is $3.71 per share. National Bank Financial also issued estimates for Thomson Reuters’ FY2024 earnings at $3.80 EPS, FY2025 earnings at $4.14 EPS and FY2026 earnings at $4.62 EPS.

Several other brokerages have also recently weighed in on TRI. Scotiabank lifted their price objective on shares of Thomson Reuters from $159.00 to $164.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. Canaccord Genuity Group lifted their price target on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. CIBC increased their price target on Thomson Reuters from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Royal Bank of Canada dropped their price objective on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Finally, UBS Group upped their target price on Thomson Reuters from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $171.82.

Thomson Reuters Stock Performance

Shares of NYSE TRI opened at $158.44 on Monday. Thomson Reuters has a one year low of $117.46 and a one year high of $176.03. 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 $71.24 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 5.97 and a beta of 0.72. The stock’s fifty day moving average price is $166.50 and its two-hundred day moving average price is $160.61.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.40%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share.

Institutional Investors Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently made changes to their positions in TRI. International Assets Investment Management LLC acquired a new stake in Thomson Reuters in the fourth quarter valued at approximately $11,438,000. Quotient Wealth Partners LLC acquired a new stake in shares of Thomson Reuters during the 4th quarter valued at $957,000. FIL Ltd grew its position in Thomson Reuters by 9.8% during the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after acquiring an additional 445,444 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Thomson Reuters by 23.8% in the 1st quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock worth $2,612,000 after purchasing an additional 3,223 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new position in Thomson Reuters in the fourth quarter valued at about $2,954,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $0.146 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.37%. Thomson Reuters’s dividend payout ratio (DPR) is currently 29.90%.

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.