Equities Analysts Set Expectations for Thomson Reuters Co.’s FY2024 Earnings (TSE:TRI)

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI) – Equities researchers at National Bank Financial upped their FY2024 earnings per share estimates for Thomson Reuters in a note issued to investors on Monday, April 22nd. National Bank Financial analyst A. Shine now expects that the company will post earnings per share of $4.81 for the year, up from their prior forecast of $4.75. National Bank Financial has a “Underperform Underweight” rating on the stock. The consensus estimate for Thomson Reuters’ current full-year earnings is $4.95 per share. National Bank Financial also issued estimates for Thomson Reuters’ FY2025 earnings at $5.56 EPS.

Other equities analysts have also issued reports about the stock. BMO Capital Markets boosted their price objective on shares of Thomson Reuters from C$211.00 to C$222.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Canaccord Genuity Group boosted their target price on shares of Thomson Reuters from C$147.00 to C$149.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Royal Bank of Canada boosted their target price on shares of Thomson Reuters from C$149.00 to C$153.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. National Bankshares lowered shares of Thomson Reuters from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$210.00 to C$217.00 in a research note on Tuesday. Finally, CIBC boosted their target price on shares of Thomson Reuters from C$138.00 to C$146.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$182.56.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at C$208.35 on Thursday. The stock’s 50 day simple moving average is C$211.40 and its two-hundred day simple moving average is C$196.70. Thomson Reuters has a fifty-two week low of C$159.25 and a fifty-two week high of C$217.83. The stock has a market cap of C$94.04 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 3.64 and a beta of 0.38. The company has a debt-to-equity ratio of 32.01, a quick ratio of 0.52 and a current ratio of 0.90.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last posted its earnings results on Thursday, February 8th. The company reported C$1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.25 by C$0.09. The company had revenue of C$2.47 billion for the quarter, compared to analysts’ expectations of C$2.52 billion. Thomson Reuters had a return on equity of 23.06% and a net margin of 39.67%.

Insider Buying and Selling

In other Thomson Reuters news, Director Linda Walker sold 4,750 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of C$156.75, for a total transaction of C$744,562.50. In related news, Senior Officer David Franklin Wong sold 600 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of C$158.99, for a total value of C$95,392.80. Also, Director Linda Walker sold 4,750 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of C$156.75, for a total transaction of C$744,562.50. 69.49% of the stock is owned by insiders.

Thomson Reuters Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 21st were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Tuesday, February 20th. Thomson Reuters’s dividend payout ratio (DPR) is presently 37.36%.

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.