Thomson Reuters (NYSE:TRI) Posts Earnings Results, Beats Estimates By $0.03 EPS

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

Thomson Reuters Trading Up 1.3 %

Shares of NYSE:TRI traded up $2.18 during trading on Thursday, reaching $168.45. 191,249 shares of the stock were exchanged, compared to its average volume of 355,810. 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 12-month low of $127.68 and a 12-month high of $176.03. The firm has a market cap of $75.78 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 5.55 and a beta of 0.73. The firm’s 50-day moving average price is $168.71 and its 200 day moving average price is $166.61.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s payout ratio is presently 41.46%.

Wall Street Analyst Weigh In

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