Q2 2024 EPS Estimates for Thomson Reuters Co. Cut by National Bank Financial (NYSE:TRI)

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) – Analysts at National Bank Financial decreased their Q2 2024 earnings per share (EPS) estimates for shares of Thomson Reuters in a research report issued on Thursday, May 2nd. National Bank Financial analyst A. Shine now forecasts that the business services provider will earn $0.74 per share for the quarter, down from their prior estimate 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.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.43%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year.

A number of other equities analysts also recently commented on the stock. CIBC raised their target price on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research note on Friday. Scotiabank raised their price objective on Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on Thomson Reuters from $152.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday. Canaccord Genuity Group increased their target price on Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research note on Friday. Finally, TD Securities boosted their price target on Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $164.31.

Thomson Reuters Trading Up 1.1 %

TRI stock opened at $164.74 on Monday. Thomson Reuters has a 52 week low of $117.46 and a 52 week high of $166.11. The company has a market cap of $74.35 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 4.29 and a beta of 0.65. 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 business has a fifty day simple moving average of $155.38 and a 200-day simple moving average of $146.67.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, May 15th. Thomson Reuters’s payout ratio is 41.33%.

Hedge Funds Weigh In On Thomson Reuters

Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its stake in shares of Thomson Reuters by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,331 shares of the business services provider’s stock valued at $897,000 after purchasing an additional 93 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Thomson Reuters by 5.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,224 shares of the business services provider’s stock worth $3,837,000 after buying an additional 1,600 shares during the last quarter. Value Partners Investments Inc. boosted its stake in shares of Thomson Reuters by 15.8% during the 3rd quarter. Value Partners Investments Inc. now owns 3,444 shares of the business services provider’s stock worth $423,000 after acquiring an additional 470 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Thomson Reuters by 55.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,812 shares of the business services provider’s stock valued at $7,194,000 after acquiring an additional 20,980 shares during the last quarter. Finally, Advisor Partners II LLC raised its stake in shares of Thomson Reuters by 41.8% in the 3rd quarter. Advisor Partners II LLC now owns 11,195 shares of the business services provider’s stock valued at $1,369,000 after acquiring an additional 3,300 shares in the last quarter. Hedge funds and other 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.