Thomson Reuters (NYSE:TRI) Stock Rating Upgraded by National Bank Financial

Thomson Reuters (NYSE:TRI) (TSE:TRI) was upgraded by research analysts at National Bank Financial from an “underperform” rating to a “sector perform” rating in a research note issued on Tuesday, MarketBeat 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 and Q4 2024 earnings at $0.94 EPS.

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

Thomson Reuters Stock Down 0.6 %

Shares of Thomson Reuters stock opened at $152.67 on Tuesday. The stock has a 50-day moving average price of $155.77 and a 200 day moving average price of $145.09. The company has a market cap of $68.92 billion, a P/E ratio of 26.14, a P/E/G ratio of 3.98 and a beta of 0.65. The company has a current ratio of 0.90, a quick ratio of 0.90 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 $161.57.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.82 billion. During the same period last year, the business earned $0.76 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, analysts expect that Thomson Reuters will post 3.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Thomson Reuters

Institutional investors have recently bought and sold shares of the business. Trust Co. of Vermont bought a new position in shares of Thomson Reuters in the third quarter valued at about $27,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Thomson Reuters in the third quarter valued at approximately $28,000. Pacifica Partners Inc. increased its holdings in shares of Thomson Reuters by 162.0% in the fourth quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 149 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of Thomson Reuters in the third quarter valued at approximately $37,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $37,000. Institutional investors own 17.31% of the company’s stock.

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.