Q1 2024 Earnings Forecast for Thomson Reuters Co. (NYSE:TRI) Issued By National Bank Financial

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – National Bank Financial issued their Q1 2024 earnings estimates for shares of Thomson Reuters in a report issued on Monday, April 22nd. National Bank Financial analyst A. Shine expects that the business services provider will post earnings per share of $0.97 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 announced its earnings results on Thursday, February 8th. The business services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company posted $0.76 earnings per share.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $153.00 target price on shares of Thomson Reuters in a research report on Wednesday, March 13th. TD Securities increased their price objective on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Scotiabank increased their price objective on shares of Thomson Reuters from $142.00 to $159.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. CIBC increased their price objective on shares of Thomson Reuters from $146.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Finally, Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $150.00 to $180.00 in a report 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, the stock presently has an average rating of “Hold” and a consensus price target of $157.42.

Thomson Reuters Price Performance

NYSE TRI opened at $152.57 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $68.87 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 4.00 and a beta of 0.65. The company has a 50 day moving average price of $155.64 and a two-hundred day moving average price of $145.15. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $161.57.

Hedge Funds Weigh In On Thomson Reuters

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRI. Bank of Nova Scotia acquired a new stake in shares of Thomson Reuters during the third quarter worth $170,036,000. FMR LLC lifted its holdings in shares of Thomson Reuters by 26.3% during the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after buying an additional 1,179,155 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Thomson Reuters by 6,607,664.7% during the third quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock worth $138,048,000 after buying an additional 1,123,303 shares in the last quarter. Norges Bank acquired a new stake in shares of Thomson Reuters during the fourth quarter worth $160,372,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Thomson Reuters by 17.3% during the third quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after buying an additional 919,603 shares in the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 21st were paid a $0.54 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. Thomson Reuters’s dividend payout ratio (DPR) 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.