Thomson Reuters (NYSE:TRI) Announces Earnings Results

Thomson Reuters (NYSE:TRI) (TSE:TRI) announced its quarterly earnings data on Tuesday. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03, Briefing.com reports. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the firm posted $0.82 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Thomson Reuters updated its FY 2024 guidance to EPS.

Thomson Reuters Stock Performance

TRI stock opened at $168.38 on Thursday. The firm has a 50-day simple moving average of $168.71 and a two-hundred day simple moving average of $166.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. Thomson Reuters has a one year low of $127.68 and a one year high of $176.03. The firm has a market cap of $75.75 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 5.55 and a beta of 0.73.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, November 21st. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s payout ratio is 41.46%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TRI shares. JPMorgan Chase & Co. lifted their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. StockNews.com lowered Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Wednesday. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Scotiabank upped their price objective on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Thomson Reuters currently has an average rating of “Hold” and a consensus price target of $176.33.

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.