Thomson Reuters (NYSE:TRI) Announces Earnings Results, Beats Expectations By $0.03 EPS

Thomson Reuters (NYSE:TRI) (TSE:TRI) released its quarterly earnings data on Tuesday. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03, Briefing.com reports. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Thomson Reuters’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 Stock Performance

Shares of TRI stock opened at $168.45 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $168.71 and a 200-day simple moving average of $166.61. The company has a market cap of $75.78 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 5.59 and a beta of 0.73. Thomson Reuters has a 12-month low of $127.68 and a 12-month high of $176.03.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis 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 currently 42.52%.

Wall Street Analyst Weigh In

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