Thomson Reuters (NYSE:TRI) Raised to Sector Perform at National Bank Financial

National Bank Financial upgraded shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from an underperform rating to a sector perform rating in a research report released on Tuesday, MarketBeat.com 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, Q4 2024 earnings at $0.94 EPS and FY2025 earnings at $4.07 EPS.

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

Thomson Reuters Trading Up 1.2 %

TRI opened at $154.44 on Tuesday. The stock’s fifty day moving average is $155.53 and its two-hundred day moving average is $145.34. The company has a market capitalization of $69.72 billion, a P/E ratio of 26.45, a PEG ratio of 3.97 and a beta of 0.65. Thomson Reuters has a 52 week low of $117.46 and a 52 week high of $161.57. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.82 billion. Thomson Reuters had a return on equity of 14.01% and a net margin of 39.67%. Thomson Reuters’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. Analysts forecast that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 21st were paid a $0.54 dividend. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.49. The ex-dividend date was Tuesday, February 20th. This represents a $2.16 dividend on an annualized basis and a yield of 1.40%. Thomson Reuters’s dividend payout ratio (DPR) is 36.99%.

Hedge Funds Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new position in Thomson Reuters in the 3rd quarter worth $27,000. FinTrust Capital Advisors LLC purchased a new position in Thomson Reuters in the 3rd quarter worth $28,000. Pacifica Partners Inc. raised its stake in Thomson Reuters by 162.0% in the 4th quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock worth $34,000 after acquiring an additional 149 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of Thomson Reuters during the 4th quarter valued at about $37,000. Finally, GPS Wealth Strategies Group LLC purchased a new position in shares of Thomson Reuters during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

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.