National Bank Financial Weighs in on Thomson Reuters Co.’s FY2023 Earnings (NYSE:TRI)

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Research analysts at National Bank Financial lifted their FY2023 EPS estimates for Thomson Reuters in a research note issued on Wednesday, November 1st. National Bank Financial analyst A. Shine now anticipates that the business services provider will post earnings of $3.48 per share for the year, up from their previous forecast of $3.31. National Bank Financial has a “Sector Perform” rating on the stock. The consensus estimate for Thomson Reuters’ current full-year earnings is $3.35 per share. National Bank Financial also issued estimates for Thomson Reuters’ Q4 2023 earnings at $0.94 EPS, FY2024 earnings at $3.69 EPS and FY2025 earnings at $4.34 EPS.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.68 by $0.14. Thomson Reuters had a net margin of 34.09% and a return on equity of 12.86%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the business earned $0.59 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis.

TRI has been the subject of several other reports. JPMorgan Chase & Co. upped their price target on shares of Thomson Reuters from $135.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, August 3rd. TD Securities upped their price target on shares of Thomson Reuters from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Scotiabank lowered their price target on shares of Thomson Reuters from $145.00 to $142.00 and set a “sector perform” rating for the company in a report on Thursday. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, CIBC downgraded Thomson Reuters from an “outperform” rating to a “neutral” rating and set a $140.00 price objective for the company. in a report on Thursday, August 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Thomson Reuters presently has a consensus rating of “Hold” and a consensus target price of $147.85.

Thomson Reuters Stock Up 0.4 %

Shares of NYSE:TRI opened at $127.45 on Friday. The company has a fifty day moving average of $125.57 and a 200-day moving average of $127.84. The company has a market capitalization of $58.04 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.90 and a current ratio of 0.90. Thomson Reuters has a 52-week low of $104.14 and a 52-week high of $138.85.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.49 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.54%. Thomson Reuters’s dividend payout ratio (DPR) is presently 39.50%.

Hedge Funds Weigh In On Thomson Reuters

Several large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its position in Thomson Reuters by 17.3% in the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock valued at $755,514,000 after acquiring an additional 919,603 shares in the last quarter. Vanguard Group Inc. increased its stake in Thomson Reuters by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,584,932 shares of the business services provider’s stock valued at $573,125,000 after buying an additional 150,880 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Thomson Reuters by 26.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,848,670 shares of the business services provider’s stock valued at $519,364,000 after buying an additional 814,295 shares during the last quarter. TD Asset Management Inc increased its stake in Thomson Reuters by 35.8% in the 2nd quarter. TD Asset Management Inc now owns 2,876,681 shares of the business services provider’s stock valued at $388,833,000 after buying an additional 758,199 shares during the last quarter. Finally, Norges Bank purchased a new stake in Thomson Reuters in the 4th quarter valued at about $207,419,000. 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.