Brokers Offer Predictions for Thomson Reuters Co.’s Q2 2024 Earnings (NYSE:TRI)

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Equities researchers at National Bank Financial dropped their Q2 2024 earnings per share (EPS) estimates for shares of Thomson Reuters in a research report issued to clients and investors on Thursday, May 2nd. National Bank Financial analyst A. Shine now forecasts that the business services provider will post earnings of $0.74 per share for the quarter, down from their previous forecast of $0.83. 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’ Q3 2024 earnings at $0.76 EPS, Q4 2024 earnings at $0.89 EPS, FY2024 earnings at $3.50 EPS and FY2026 earnings at $4.55 EPS.

Several other research firms have also recently weighed in on TRI. UBS Group upped their target price on Thomson Reuters from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. raised their price objective on Thomson Reuters from $152.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Scotiabank lifted their target price on Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Royal Bank of Canada increased their target price on shares of Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th. Finally, TD Securities lifted their price target on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. Eleven 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, Thomson Reuters currently has a consensus rating of “Hold” and a consensus target price of $164.31.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock opened at $166.97 on Monday. The company has a 50 day moving average of $155.73 and a 200-day moving average of $147.30. The company has a market cap of $75.35 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 4.52 and a beta of 0.65. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. Thomson Reuters has a 1-year low of $117.46 and a 1-year high of $168.28.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. Thomson Reuters’s revenue was up 8.5% compared to the same quarter last year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.29%. Thomson Reuters’s dividend payout ratio (DPR) is presently 41.14%.

Institutional Trading of Thomson Reuters

Several institutional investors have recently modified their holdings of TRI. Vanguard Group Inc. lifted its holdings in Thomson Reuters by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,698,178 shares of the business services provider’s stock worth $833,188,000 after buying an additional 52,138 shares during the period. FMR LLC lifted its stake in shares of Thomson Reuters by 26.3% in the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after acquiring an additional 1,179,155 shares during the period. FIL Ltd boosted its holdings in Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after acquiring an additional 445,444 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Thomson Reuters by 6.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock valued at $500,872,000 after purchasing an additional 240,148 shares during the period. Finally, TD Asset Management Inc raised its holdings in Thomson Reuters by 30.8% during the 4th quarter. TD Asset Management Inc now owns 3,752,472 shares of the business services provider’s stock worth $551,317,000 after purchasing an additional 884,572 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

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.