Thomson Reuters Co. (NYSE:TRI) Expected to Post Q1 2024 Earnings of $0.97 Per Share

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Analysts at National Bank Financial issued their Q1 2024 EPS estimates for shares of Thomson Reuters in a research note issued to investors on Monday, April 22nd. National Bank Financial analyst A. Shine expects that the business services provider will post earnings of $0.97 per share for the quarter. National Bank Financial 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’ Q2 2024 earnings at $0.83 EPS, Q3 2024 earnings at $0.78 EPS and Q4 2024 earnings at $0.94 EPS.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $1.82 billion during 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%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS.

A number of other brokerages have also commented on TRI. TD Securities upped their price objective on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $150.00 to $180.00 in a research note on Thursday, March 14th. Scotiabank upped their target price on shares of Thomson Reuters from $142.00 to $159.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $153.00 target price on shares of Thomson Reuters in a research note on Wednesday, March 13th. Finally, CIBC upped their target price on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $157.42.

Thomson Reuters Stock Down 0.6 %

Thomson Reuters stock opened at $152.67 on Wednesday. The firm has a fifty day moving average price of $155.77 and a two-hundred day moving average price of $145.09. The firm has a market cap of $68.92 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 3.98 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90. Thomson Reuters has a fifty-two week low of $117.46 and a fifty-two week high of $161.57.

Institutional Trading of Thomson Reuters

Large investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management grew its stake in shares of Thomson Reuters by 4.9% during the third quarter. Ritholtz Wealth Management now owns 4,453 shares of the business services provider’s stock valued at $545,000 after purchasing an additional 209 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in shares of Thomson Reuters during the third quarter valued at approximately $209,000. Capital Asset Advisory Services LLC bought a new stake in shares of Thomson Reuters during the third quarter valued at approximately $219,000. Covenant Partners LLC bought a new stake in shares of Thomson Reuters during the third quarter valued at approximately $419,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Thomson Reuters by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 7,331 shares of the business services provider’s stock valued at $897,000 after buying an additional 93 shares during the period. 17.31% of the stock is owned by institutional investors.

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 paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.41%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.49. The ex-dividend date was Tuesday, February 20th. Thomson Reuters’s dividend payout ratio is currently 36.99%.

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.