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

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

Thomson Reuters Stock Performance

Shares of TRI traded down $5.83 on Wednesday, reaching $165.31. 275,075 shares of the stock traded hands, compared to its average volume of 355,392. Thomson Reuters has a 12 month low of $127.68 and a 12 month high of $176.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $74.37 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 5.55 and a beta of 0.73. The stock’s 50-day moving average price is $168.79 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. Investors of record on Thursday, November 21st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a yield of 1.31%. Thomson Reuters’s dividend payout ratio (DPR) is 41.46%.

Analyst Ratings Changes

TRI has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. raised their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Scotiabank raised their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and four have issued 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.

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.