Thomson Reuters (NYSE:TRI) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Thomson Reuters (NYSE:TRIGet Free Report) (TSE:TRI) announced its earnings results on Thursday. The business services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06, Briefing.com reports. Thomson Reuters had a return on equity of 13.84% and a net margin of 39.67%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the business earned $0.76 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Thomson Reuters updated its FY 2024 guidance to EPS.

Thomson Reuters Trading Up 1.7 %

Shares of TRI stock opened at $158.63 on Friday. The company’s fifty day simple moving average is $145.96 and its two-hundred day simple moving average is $134.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.05 and a quick ratio of 1.05. Thomson Reuters has a 1 year low of $115.87 and a 1 year high of $159.26. The stock has a market capitalization of $71.85 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 3.81 and a beta of 0.65.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Wednesday, February 21st will be issued a dividend of $0.54 per share. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.49. The ex-dividend date is Tuesday, February 20th. This represents a $2.16 dividend on an annualized basis and a yield of 1.36%. Thomson Reuters’s payout ratio is presently 33.57%.

Wall Street Analysts Forecast Growth

TRI has been the topic of a number of research analyst reports. Scotiabank boosted their target price on Thomson Reuters from $142.00 to $159.00 and gave the stock a “sector perform” rating in a research note on Friday. Barclays lowered their price target on shares of Thomson Reuters from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Royal Bank of Canada lifted their price target on shares of Thomson Reuters from $149.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday. BMO Capital Markets lifted their price target on shares of Thomson Reuters from $192.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Finally, Morgan Stanley lowered their price target on shares of Thomson Reuters from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Thomson Reuters has an average rating of “Hold” and an average target price of $149.23.

View Our Latest Research Report on Thomson Reuters

Institutional Investors Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently bought and sold shares of the business. Belpointe Asset Management LLC grew its position in shares of Thomson Reuters by 134.9% during the 1st quarter. Belpointe Asset Management LLC now owns 195 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Thomson Reuters by 209.6% during the 1st quarter. Advisory Services Network LLC now owns 353 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 239 shares in the last quarter. SRS Capital Advisors Inc. grew its position in shares of Thomson Reuters by 2,647.4% during the 1st quarter. SRS Capital Advisors Inc. now owns 522 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 503 shares in the last quarter. Vestor Capital LLC grew its position in shares of Thomson Reuters by 161.6% during the 2nd quarter. Vestor Capital LLC now owns 1,245 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 769 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of Thomson Reuters by 100.0% during the 2nd quarter. IFP Advisors Inc now owns 1,470 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 735 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

About Thomson Reuters

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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.

Further Reading

Earnings History for Thomson Reuters (NYSE:TRI)

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