Thomson Reuters (NYSE:TRI) Upgraded at National Bank Financial

National Bank Financial upgraded shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from an underperform rating to a sector perform rating in a report released on Tuesday, MarketBeat.com reports. National Bank Financial also issued estimates for Thomson Reuters’ Q1 2024 earnings at $0.97 EPS, Q2 2024 earnings at $0.83 EPS, Q3 2024 earnings at $0.78 EPS, Q4 2024 earnings at $0.94 EPS and FY2025 earnings at $4.07 EPS.

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

Thomson Reuters Stock Performance

NYSE TRI opened at $154.44 on Tuesday. 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 1 year low of $117.46 and a 1 year high of $161.57. The company has a market capitalization of $69.72 billion, a PE ratio of 26.45, a P/E/G ratio of 3.97 and a beta of 0.65. The company has a fifty day moving average of $155.53 and a two-hundred day moving average of $145.34.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, analysts expect that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 21st were issued 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 dividend on an annualized basis and a yield of 1.40%. Thomson Reuters’s dividend payout ratio (DPR) is 36.99%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TRI. Bank of Nova Scotia purchased a new position in Thomson Reuters in the third quarter valued at about $170,036,000. FMR LLC increased its stake in shares of Thomson Reuters by 26.3% during the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after purchasing an additional 1,179,155 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Thomson Reuters by 6,607,664.7% during the 3rd quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock worth $138,048,000 after purchasing an additional 1,123,303 shares in the last quarter. Norges Bank purchased a new position in shares of Thomson Reuters during the 4th quarter worth approximately $160,372,000. Finally, Mackenzie Financial Corp increased its stake in shares of Thomson Reuters by 17.3% during the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after purchasing an additional 919,603 shares in the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

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.