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 research note 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 equities research analysts have also commented on TRI. Scotiabank boosted their price objective on Thomson Reuters from $142.00 to $159.00 and gave the stock a sector perform rating in a research note on Friday, February 9th. TD Securities upped their price target on Thomson Reuters from $210.00 to $225.00 and gave the company a hold rating in a research report on Wednesday, March 13th. Royal Bank of Canada restated a sector perform rating and issued a $153.00 price target on shares of Thomson Reuters in a research report on Wednesday, March 13th. Barclays upgraded Thomson Reuters from an equal weight rating to an overweight rating and upped their price target for the company from $150.00 to $180.00 in a research report on Thursday, March 14th. Finally, CIBC upped their price target on Thomson Reuters from $146.00 to $152.00 and gave the company a neutral rating in a research report on Thursday, March 14th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters presently has an average rating of Hold and an average target price of $157.42.

Thomson Reuters Price Performance

NYSE:TRI opened at $152.57 on Tuesday. Thomson Reuters has a 12 month low of $117.46 and a 12 month high of $161.57. The stock has a 50 day moving average of $155.64 and a two-hundred day moving average of $145.15. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. The firm has a market cap of $68.87 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 3.97 and a beta of 0.65.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data 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. Thomson Reuters had a return on equity of 14.01% and a net margin of 39.67%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business earned $0.76 EPS. Thomson Reuters’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts expect that Thomson Reuters will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors 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 1.42%. Thomson Reuters’s dividend payout ratio is currently 36.99%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRI. Ritholtz Wealth Management lifted its stake in Thomson Reuters by 4.9% during the third quarter. Ritholtz Wealth Management now owns 4,453 shares of the business services provider’s stock worth $545,000 after purchasing an additional 209 shares in the last quarter. Capital Investment Advisors LLC acquired a new position in Thomson Reuters during the third quarter worth $209,000. Capital Asset Advisory Services LLC acquired a new position in Thomson Reuters during the third quarter worth $219,000. Covenant Partners LLC acquired a new position in Thomson Reuters during the third quarter worth $419,000. Finally, Commonwealth Equity Services LLC lifted its stake in Thomson Reuters by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 7,331 shares of the business services provider’s stock worth $897,000 after purchasing an additional 93 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

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.