On March 13, 2024, analyst Drew McReynolds from RBC Capital reaffirmed their Sector Perform rating for Thomson Reuters (NYSE: TRI) and kept a price target of $153. This decision was finalized on February 9, 2024, with an increase in the price target from $149 to $153. The adjustment reflects RBC Capital’s positive outlook on Thomson Reuters’ market performance.
Thomson Reuters Corporation (TRI) Stock Price Sees Slight Drop on March 13, 2024
On March 13, 2024, Thomson Reuters Corporation (TRI) experienced a slight decrease in its stock price, closing at $156.70. This represents a 1.16% drop from the previous market close. Despite this decrease, TRI is still trading near the top of its 52-week range and above its 200-day simple moving average, indicating strong price momentum for the stock.
TRI Stock Performance Analysis: Strong Net Income and EPS Growth Despite Flat Revenue
On March 13, 2024, TRI’s stock performance reflected the company’s financial data from the past year. According to CNN Money, TRI reported a total revenue of $6.79 billion for the past year, which remained flat compared to the previous year. Similarly, the total revenue for the fourth quarter was $1.81 billion, also holding flat since the previous quarter. However, despite the stagnant revenue growth, TRI’s net income showed a significant increase. The company reported a net income of $2.69 billion for the past year, marking a 101.42% increase from the previous year. The net income for the fourth quarter was $650 million, holding flat since the previous quarter. Earnings per share (EPS) also saw a notable increase for TRI. The company reported an EPS of $5.80 for the past year, representing a 110.6% increase from the previous year. The EPS for the fourth quarter was $1.49, holding flat since the previous quarter. Overall, TRI’s financial performance on March 13, 2024, demonstrated strong net income and EPS growth, despite flat total revenue. Investors may view the company’s ability to increase profitability as a positive sign for future growth and potential stock performance. It will be interesting to see how TRI continues to navigate the market and maintain its financial momentum in the coming quarters.
