Thomson Reuters (NASDAQ:TRI) 주식

Thomson Reuters

Thomson Reuters is the result of the $17.6 billion megamerger of Canada's Thomson and the United Kingdom's Reuters Group in 2008. In 2021, Thomson Reuters completed the sale of Refinitiv to LSE Group. Thomson Reuters' three largest segments are its legal professionals, Tax and accounting, and corporates segments. Legal professionals is about 42% of the firm's revenue and 47% of the firm's adjusted EBITDA. Tax and accounting makes up about 20%-25% of the firm's revenue and EBITDA. Corporates, which consists of legal professionals and tax and accounting products sold to corporations, also makes up about 20%-25% of the firm's revenue and EBITDA. Thomson Reuters' smaller segments include its Reuters news business and global print business.

Thomson Reuters Corp

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TRISTAR ACQUISITION I CORP CL A

TRI-TECH HOLDING INC ORD by Tri-Tech Holding Inc.

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TriumphX

Thomson Reuters&nbsp;expects that its common shares will cease trading on the NYSE at market close on or about February 24, 2025 and that its common shares will commence trading on the Nasdaq on or about February 25, 2025.
Thomson Reuters' listing on the Toronto Stock Exchange will not be impacted, and its common shares&nbsp;will continue to be listed under the ticker symbol "TRI" on both the TSX and Nasdaq.

News

Thomson Reuters Plans To Transfer US Stock Exchange Listing From NYSE To Nasdaq

Offerings

Thomson Reuters Begins Debt Exchange Offers And Consent Solicitations

Thomson Reuters Launches Its Second Corporate Venture Capital Fund, Valued At $150M

Goldman Sachs analyst George King maintains Thomson Reuters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRI#NYSE">TRI</a>) with a Neutral and raises the price target from $168 to $188.

Price Target

Analyst Ratings

Goldman Sachs Maintains Neutral on Thomson Reuters, Raises Price Target to $188

Scotiabank analyst Maher Yaghi maintains Thomson Reuters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRI#NYSE">TRI</a>) with a Sector Outperform and raises the price target from $187 to $188.

Scotiabank Maintains Sector Outperform on Thomson Reuters, Raises Price Target to $188

Wells Fargo analyst Jason Haas maintains Thomson Reuters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRI#NYSE">TRI</a>) with a Equal-Weight and raises the price target from $165 to $177.

Wells Fargo Maintains Equal-Weight on Thomson Reuters, Raises Price Target to $177

WIIM

Thomson Reuters shares are trading higher after the company reported Q4 financial results and beat its adjusted EPS estimate.

Thomson Reuters Corp&nbsp;(NYSE:&nbsp;TRI) reported fiscal fourth-quarter 2024 revenue&nbsp;growth of 5% year-on-year to $1.909 billion, versus the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n43522917/thomson-reuters-reports-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener">analyst consensus estimate of $1.908 billion</a>.&nbsp;
The business information services provider's adjusted EPS of 101 cents beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of 98 cents</a>. The&nbsp;stock price gained after the print.
Organic revenues increased by 5%, driven by 8% growth in recurring revenues (83% of total revenues). This was partly offset by a 4% decline in transaction revenues and the decline in Global Print.&nbsp;
Also Read: <a href="https://www.benzinga.com/general/entertainment/25/02/43530227/msg-entertainment-q2-earnings-strong-holiday-ticket-sales-beats-revenue-estimates-despite-concert-decline" target="_blank" rel="noreferrer noopener">MSG Entertainment Q2 Earnings: Strong Holiday Ticket Sales, Beats Revenue Estimates Despite Concert Decline</a>
The "Big 3" segments (Legal Professionals, Corporates, and Tax &amp; Accounting Professionals) comprised 81% of total revenues and reported organic revenue growth of 8%.&nbsp;Here's a breakdown:
<ul>
<li>Legal Professionals' revenue grew by 4% Y/Y to $729 million</li>
<li>Corporates' revenue rose 14% Y/Y to $458 million</li>
<li>Tax &amp; Accounting Professionals' revenue increased by 6% Y/Y to $366 million.</li>
<li>Reuters News revenue declined 1%&nbsp;Y/Y&nbsp;to $218 million</li>
<li>Global Print revenue fell 6%&nbsp;Y/Y&nbsp;to $144 million.</li>
<li>Adjusted EBITDA margin declined 130 bps to 37.6%.&nbsp;</li>
<li>Free cash flow was at $425 million during the quarter, with $1.97 billion in cash and equivalents as of December 31.</li>
</ul>
Dividend: The board approved a quarterly dividend increase of 10% to $0.595 per share.
CEO Steve Hasker said the company completed the monetization of its London Stock Exchange Group stake and executed several strategic acquisitions.
FY25 Outlook: Thomson Reuters&nbsp;expects revenue growth of 3.0%-3.5%, implying $7.47 billion-$7.51 billion (versus actual 7% growth in fiscal 2024) against&nbsp;a&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $7.55 billion</a>.
The company expects organic revenue growth of 7.0%- 7.5%&nbsp;(versus actual 7.0% growth in fiscal 2024) and an adjusted EBITDA margin of ~39% (versus 38.2% in fiscal 2024).
Thomson Reuters stock gained 18% in the last 12 months.
Price Action: TRI stock is up 3.59% to $175.30 at last check Thursday.
Also Read:
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<li><a href="https://www.benzinga.com/25/02/43494650/disney-q1-earnings-powered-by-moana-2-and-mufasa-theme-parks-loses-streaming-subscribers" target="_blank" rel="noreferrer noopener">Disney Q1 Earnings: Revenue And EPS Beat, Moana 2 and Mufasa Power Operating Income, 700K Drop In Streaming Subscribers</a></li>
</ul>
Image: Shutterstock

Earnings

Guidance

Dividends

Thomson Reuters Q4 Earnings: Beats Estimates, Boosts Dividend 10%, CEO Highlights Strategic Growth

Reported Full-Year 2024 Results and Full-Year 2025 Outlook
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Total Thomson Reuters</td>
<td colspan="1" rowspan="1">
FY 2024
Reported
</td>
<td colspan="1" rowspan="1">
FY 2025
Outlook
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total Revenue Growth</td>
<td colspan="1" rowspan="1">7&nbsp;%</td>
<td colspan="1" rowspan="1">3.0 - 3.5% (2)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Organic Revenue Growth(1)</td>
<td colspan="1" rowspan="1">7&nbsp;%</td>
<td colspan="1" rowspan="1">7.0 - 7.5 %</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EBITDA Margin(1)</td>
<td colspan="1" rowspan="1">38.2&nbsp;%</td>
<td colspan="1" rowspan="1">~39%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Corporate Costs</td>
<td colspan="1" rowspan="1">$105 million</td>
<td colspan="1" rowspan="1">$120 - $130 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Free Cash Flow(1)</td>
<td colspan="1" rowspan="1">$1.8 billion</td>
<td colspan="1" rowspan="1">~$1.9 billion</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Accrued Capex as % of Revenue(1)</td>
<td colspan="1" rowspan="1">8.4&nbsp;%</td>
<td colspan="1" rowspan="1">~8%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Depreciation &amp; Amortization of Computer Software
&nbsp;&nbsp;&nbsp; Depreciation &amp; Amortization of Internally Developed Software
&nbsp;&nbsp;&nbsp; Amortization of Acquired Software
</td>
<td colspan="1" rowspan="1">
$731 million
$584 million
$147 million
</td>
<td colspan="1" rowspan="1">
$835 - $855 million
$635 - $655 million
~$200 million
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Interest Expense (P&amp;L)</td>
<td colspan="1" rowspan="1">$125 million</td>
<td colspan="1" rowspan="1">~$150 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Effective Tax Rate on Adjusted Earnings(1)</td>
<td colspan="1" rowspan="1">17.6&nbsp;%</td>
<td colspan="1" rowspan="1">~19%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">"Big 3" Segments(1)</td>
<td colspan="1" rowspan="1">
FY 2024
Reported
</td>
<td colspan="1" rowspan="1">
FY 2025
Outlook
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total Revenue Growth &nbsp;</td>
<td colspan="1" rowspan="1">8&nbsp;%</td>
<td colspan="1" rowspan="1">~4% (2)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Organic Revenue Growth</td>
<td colspan="1" rowspan="1">9&nbsp;%</td>
<td colspan="1" rowspan="1">~9%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EBITDA Margin</td>
<td colspan="1" rowspan="1">42.1&nbsp;%</td>
<td colspan="1" rowspan="1">~43%</td>
</tr>
</tbody>
</table>
</figure><figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
</tbody>
</table>
</figure>

Thomson Reuters Sees FY2025 Sales $7.475B-$7.512B vs $7.58B Est

Thomson Reuters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRI#NYSE">TRI</a>) reported quarterly earnings of $1.01 per share which beat the analyst consensus estimate of $0.97 by 4.12 percent. This is a 3.06 percent increase over earnings of $0.98 per share from the same period last year. The company reported quarterly sales of $1.91 billion which met the analyst consensus estimate. This is a 5.18 percent increase over sales of $1.81 billion the same period last year.

Earnings Beats

Thomson Reuters Q4 2024 Adj EPS $1.01 Beats $0.97 Estimate, Sales $1.91B Inline

U.S. stock futures rose on Thursday following Wednesday&#8217;s advances as investors digest tariff pauses by the Trump administration amid earnings reports. All four benchmark indices were trading higher.
Heavyweight Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) along with Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), Thomson Reuters Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRI#NYSE">TRI</a>), Cloudflare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) and Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) are a few companies that will report their earnings today.
The 10-year Treasury yield stood at 4.44%, while the two-year yield was at 4.21%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is an 85.5% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.20%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.24%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.36%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.33%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) both experienced positive premarket trading on Thursday. SPY rose 0.22% to $605.57, and QQQ advanced 0.22% to $528.03, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
Real estate, information technology, and financial sectors led the <a href="https://www.benzinga.com/news/earnings/25/02/43520435/dow-rises-over-300-points-as-nvidia-surges-investor-sentiment-improves-but-greed-index-remains-in-fear-zone">gains</a> in U.S. stocks on Wednesday, however, communication services and consumer discretionary stocks declined, bucking the overall market trend. 
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares jumped over 5% following positive results from Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Google&#8217;s increased FY25 capital expenditure guidance. The Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) also reported better-than-expected first-quarter financial results.
On the economic front, the U.S. trade deficit widened to $98.4 billion in December, exceeding market expectations of $96.6 billion and up from a revised $78.9 billion in November. The ISM services PMI fell to 52.8 in January, below the estimated 54.3 and a revised 54 in December.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.19%</td>
<td>19,692.33</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.39%</td>
<td>6,061.48</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.71%</td>
<td>44,873.28</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.14%</td>
<td>2,316.23</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
Despite recent market volatility, a &#8220;buy the dip&#8221; mentality remains prevalent among investors, according to Liz Ann Sonders, chief investment strategist at Schwab. According to Schwab&#8217;s <a href="https://international.schwab.com/story/stock-market-update-open">daily commentary</a>, Sonders noted that money continues to seek opportunities, with &#8220;stealthy, quiet participation&#8221; emerging in sectors beyond the &#8220;Magnificent Seven&#8221; tech stocks.
She emphasized that this diversification is a healthy sign, predating the recent tariff-related concerns. However, Sonders cautioned that the market should brace for continued &#8220;rapid-fire sector rotations,&#8221; citing the recent movement of tech and defensive stocks. These sector-related gyrations, she predicted, are likely to persist for some time.
Scott Wren, the senior global market strategist at Wells Fargo <a href="https://www.wellsfargoadvisors.com/research-analysis/commentary/stock-market-commentary.htm">said</a> that he views the tariff threats so far as bargaining chips the U.S. president is using to encourage agreement from the leaders of various countries. He highlighted that &#8220;bringing more manufacturing back to the U.S., particularly from China and Mexico, is a goal but will take time.&#8221;
The market momentum remains positive overall, though the numerous policy changes under a potential second Trump administration are likely to fuel further volatility, said Louis Navellier of Navellier &amp; Associates.
He highlighted the new administration&#8217;s apparent push for lower interest rates and energy prices, noting that both appear to be underway and are positive indicators for economic growth.
However, tariffs remain a significant wildcard due to the unpredictable nature of potential responses, particularly from China, a major U.S. trade partner. Navellier pointed out that earnings have been encouraging, and smaller capitalized stocks are performing well. Looking ahead, he suggests that if current trends continue, the Federal Reserve could eventually implement rate cuts, which would further boost market momentum.
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul>
<li>Initial jobless claims till Feb. 1 and the U.S. productivity data for the fourth quarter will be out at 8:30 a.m., ET.</li>
</ul>
<ul>
<li>Fed Governor Christopher Waller will speak at 2:30 p.m. and Dallas Fed President Lorie Logan will speak at 5:10 p.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) advanced 0.61% in premarket on Thursday ahead of its earnings, which will be released after market close. Analysts expect it to report quarterly earnings of $1.49 per share on revenue of $187.31 billion.</li>
</ul>
<ul>
<li>Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) was down 0.54% as Wall Street expects it to report quarterly earnings of $2.32 per share on revenue of $9.83 billion before the opening bell.</li>
</ul>
<ul>
<li>Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) slipped 0.27% ahead of its earnings before the opening bell. Analysts expect it to report quarterly earnings of $1.46 per share on revenue of $11.57 billion.</li>
</ul>
<ul>
<li>Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) slid 0.73% as Wall Street expects it to report quarterly earnings of $5.08 per share on revenue of $13.43 billion before the opening bell.</li>
</ul>
<ul>
<li>Arm Holdings Plc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) declined 5.08% despite reporting better-than-expected third-quarter financial results for fiscal year 2025 as it narrowed its next quarter and full-year&#8217;s guidance.</li>
</ul>
<ul>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) fell 5.09% despite upbeat fourth-quarter financial results but forecasted a tougher year.</li>
</ul>
<ul>
<li>Sangoma Technologies Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANG#NASDAQ">SANG</a>) was down 5.07% after it reported a loss in the second quarter and missed revenue estimates.</li>
</ul>
<ul>
<li>Rani Therapeutics Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RANI#NASDAQ">RANI</a>) was up 40.97% after successful preclinical data for oral delivery of semaglutide which is used to treat type-2 diabetes.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.59% to hover around $71.45 per barrel.
The gold spot index was down by 0.29% to $2,859.30 per ounce. The Dollar Index was down 0.39% at 107.998 level.
Asian markets were trading higher on Thursday. China's CSI 300, Hong Kong's Hang Seng, Australia's ASX 200, South Korea's Kospi, and Japan's Nikkei 225 index advanced. European markets were mostly higher in trade.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/02/43491799/meta-ai-models-clearly-behind-deepseek-says-analysts-after-mark-zuckerberg-admitted-deepseek-did-some-novel-things-were-still-digesting">Meta AI Models ‘Clearly Behind' DeepSeek, Says Analyst After Mark Zuckerberg Admits DeepSeek Did Some Novel Things ‘We're Still Digesting'</a></li>
</ul>
Photo courtesy: Shutterstock

Analyst Color

Equities

Futures

Economics

Pre-Market Outlook

Markets

AMZN

FTNT

NVDA

RANI

RBLX

SANG

US Stocks Likely To Open Higher Ahead Of Amazon's Earnings: 'Buy The Dip' Mentality Remains Prevalent, Says Analyst

AAMI

AFRM

AGCO

AMRK

APTV

BILL

CCEC

CIGI

CLFD

CLSK

CRNC

CTLP

DOCS

EMBC

ENTG

EXPE

EXPO

FARM

FBIN

GOOS

GPRO

GTES

GTIM

HUBG

IBEX

IDCC

IIIV

ILMN

INTR

KVUE

LADR

LESL

Laboratory Corporation Of America Holdings

LION

LITE

LIVE

LQDT

LSPD

LTRX

MAGN

MATW

MCFT

MCHP

MKTX

MPWR

MSGE

MTSI

Earnings Scheduled For February 6, 2025

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>JP Morgan analyst Adrian Heurta upgraded the rating for Martin Marietta Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) from Neutral to Overweight and raised the price target from $515 to $640. Martin Marietta Materials shares closed at $596.97 on Tuesday. <a href="https://www.benzinga.com/quote/MLM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Paul Lejuez upgraded Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) from Neutral to Buy and raised the price target from $42 to $59. Urban Outfitters shares closed at $40.14 on Tuesday. <a href="https://www.benzinga.com/quote/URBN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS analyst Michael Lasser upgraded the rating for Dick&#8217;s Sporting Goods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) from Neutral to Buy and increased the price target from $225 to $260. Dick&#8217;s Sporting Goods shares closed at $212.22 on Tuesday. <a href="https://www.benzinga.com/quote/DKS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>BTIG analyst Marie Thibault upgraded the rating for Embecta Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) from Neutral to Buy and announced a $26 price target. Embecta shares closed at $18.70 on Tuesday. <a href="https://www.benzinga.com/quote/EMBC/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying DKS stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="605" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27074548/image-293-1024x605.png" alt="" class="wp-image-667259" style="width:616px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27074548/image-293-1024x605.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27074548/image-293-300x177.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27074548/image-293-768x454.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27074548/image-293.png 1087w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/24/11/42210452/top-3-consumer-stocks-that-are-set-to-fly-in-q4">Top 3 Consumer Stocks That Are Set To Fly In Q4</a></li>
</ul>

Upgrades

URBN

This Dick's Sporting Goods Analyst Turns Bullish; Here Are Top 4 Upgrades For Wednesday

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Piper Sandler analyst Brent Bracelin downgraded the rating for Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) from Overweight to Neutral and lowered the price target from $285 to $270. Workday shares closed at $270.19 on Tuesday. <a href="https://www.benzinga.com/quote/WDAY/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HSBC analyst Stephen Bersey downgraded CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) from Buy to Hold and announced a $347 price target. CrowdStrike shares closed at $364.30 on Tuesday. <a href="https://www.benzinga.com/quote/CRWD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan analyst Anthony Paolone downgraded the rating for Alexandria Real Estate Equities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) from Overweight to Neutral and lowered the price target from $133 to $121. Alexandria Real Estate shares closed at $111.75 on Tuesday. <a href="https://www.benzinga.com/quote/ARE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Ladenburg Thalmann analyst Mickey Schleien downgraded the rating for PennantPark Investment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNNT#NYSE">PNNT</a>) from Buy to Neutral. Pennant Park Investment shares closed at $6.91 on Tuesday. <a href="https://www.benzinga.com/quote/PNNT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird analyst Mark Altschwager downgraded the rating for Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) from Outperform to Neutral and cut the price target from $25 to $18. Kohl&#8217;s shares closed at $15.22 on Tuesday. <a href="https://www.benzinga.com/quote/KSS/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying CRWD stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="625" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27080635/image-294-1024x625.png" alt="" class="wp-image-667301" style="width:635px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27080635/image-294-1024x625.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27080635/image-294-300x183.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27080635/image-294-768x469.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27080635/image-294.png 1081w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Downgrades

Trading Ideas

CRWD

PNNT

WDAY

This CrowdStrike Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday

Wells Fargo initiates coverage on Thomson Reuters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRI#NYSE">TRI</a>) with a Equal-Weight rating and announces Price Target of $165.

Initiation

Wells Fargo Initiates Coverage On Thomson Reuters with Equal-Weight Rating, Announces Price Target of $165

Scotiabank analyst Maher Yaghi maintains Thomson Reuters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRI#NYSE">TRI</a>) with a Sector Outperform and raises the price target from $182 to $187.

Scotiabank Maintains Sector Outperform on Thomson Reuters, Raises Price Target to $187

RBC Capital analyst Drew McReynolds maintains Thomson Reuters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRI#NYSE">TRI</a>) with a Sector Perform and raises the price target from $171 to $173.

RBC Capital Maintains Sector Perform on Thomson Reuters, Raises Price Target to $173

Thomson Reuters Corp&nbsp;(NYSE:&nbsp;TRI) reported fiscal third-quarter 2024 revenue&nbsp;growth of 8% year-on-year to $1.72 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41740109/thomson-reuters-reports-third-quarter-2024-results" rel="noreferrer noopener">analyst consensus estimate of $1.71 billion</a>.&nbsp;
The business information services provider&#8217;s adjusted EPS of 80 cents beat the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">analyst consensus estimate of 77 cents</a>. The stock price climbed after the print.
Organic revenues increased by 7%, driven by 8% growth in recurring revenues (84% of total revenues).&nbsp;
The &#8220;Big 3&#8221; segments (Legal Professionals, Corporates, and Tax &amp; Accounting Professionals) collectively comprised 81% of total revenues and reported organic revenue growth of 9%. Here&#8217;s a breakdown:
<ul>
<li>Legal Professionals&#8217; revenue grew by 8% Y/Y to $745 million</li>
<li>Corporates&#8217; revenue rose 12% Y/Y to $437 million</li>
<li>Tax &amp; Accounting Professionals&#8217; revenue increased by 9% Y/Y to $221 million.</li>
<li>Reuters News revenue grew 10% Y/Y to $199 million</li>
<li>Global Print revenue fell 7% Y/Y to $128 million.</li>
<li>Adjusted EBITDA margin declined 430 bps to 35.3%.&nbsp;</li>
<li>Free cash flow was at $591 million during the quarter with $1.73 billion in cash and equivalents as of September.</li>
</ul>
CEO Steve Hasker highlighted the company&#8217;s commitment to innovation, pointing to increased AI investment in 2024, surpassing $200 million. 
He also emphasized progress in the &#8220;Build, Partner, Buy&#8221; strategy, with recent AI product launches, updates to the CoCounsel GenAI assistant, and strategic acquisitions of Safe Sign Technologies and Materia, which enhance the company&#8217;s GenAI solutions for professional clients.
FY24 Outlook:&nbsp;Thomson Reuters&nbsp;reiterated revenue of $7.27 billion against&nbsp;a&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $7.28 billion</a>.
The company expects its&nbsp;fourth-quarter&nbsp;2024 organic revenue growth to be approximately 5% (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40109618/thomson-reuters-q2-growth-in-revenue-and-big-3-segments-ceo-confirms-2024-investment-plans-on-track" rel="noreferrer noopener">prior approximately&nbsp;6%</a>)&nbsp;and its adjusted EBITDA margin to be approximately 37% (prior approximately&nbsp;34%).
Thomson Reuters stock gained 15% year-to-date.
Price Action:&nbsp;TRI stock is up 4.84% to $173.01 premarket at last check Tuesday.
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Image: Shutterstock

Thomson Reuters Q3 Earnings: Legal, Corporate Segments Enjoy Revenue Boost As CEO Highlights AI Investment

Thomson Reuters shares are trading higher after the company reported better-than-expected Q3 financial results.

2024 Outlook
The company raised its 2024 outlook for organic revenue growth to reflect strong year-to-date performance. All other measures in the outlook were maintained.
The company's outlook for 2024 in the table below assumes constant currency rates and excludes the impact of any future acquisitions or dispositions that may occur during the remainder of the year. Thomson Reuters believes that this type of guidance provides useful insight into the anticipated performance of its businesses.
The company expects its fourth-quarter 2024 organic revenue growth to be approximately 5% and its adjusted EBITDA margin to be approximately 37%.
The company continues to operate in an uncertain macroeconomic environment, reflecting ongoing geopolitical risk, uneven economic growth and an evolving interest rate and inflationary backdrop. Any worsening of the global economic or business environment, among other factors, could impact the company's ability to achieve its outlook.
Reported Full-Year 2023 Results and Full-Year 2024 Outlook
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Total Thomson Reuters</td>
<td colspan="1" rowspan="1">
FY 2023
Reported
</td>
<td colspan="1" rowspan="1">
FY 2024
Outlook
2/8/2024
</td>
<td colspan="1" rowspan="1">
FY 2024
Outlook
5/2/2024
</td>
<td colspan="1" rowspan="1">
FY 2024
Outlook
8/1/2024
</td>
<td colspan="1" rowspan="1">
FY 2024
Outlook
11/5/2024
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total Revenue Growth</td>
<td colspan="1" rowspan="1">3&nbsp;%</td>
<td colspan="1" rowspan="1">~ 6.5%</td>
<td colspan="1" rowspan="1">6.5% - 7.0%</td>
<td colspan="1" rowspan="1">~ 7.0%</td>
<td colspan="1" rowspan="1">Unchanged</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Organic Revenue Growth(1)</td>
<td colspan="1" rowspan="1">6&nbsp;%</td>
<td colspan="1" rowspan="1">~ 6%</td>
<td colspan="1" rowspan="1">6.0% - 6.5%</td>
<td colspan="1" rowspan="1">~ 6.5%</td>
<td colspan="1" rowspan="1">~7.0%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EBITDA Margin(1)</td>
<td colspan="1" rowspan="1">39.3&nbsp;%</td>
<td colspan="1" rowspan="1">~ 38%</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">Unchanged</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Corporate Costs</td>
<td colspan="1" rowspan="1">$115 million</td>
<td colspan="1" rowspan="1">$120 - $130 million</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">Unchanged</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Free Cash Flow(1)</td>
<td colspan="1" rowspan="1">$1.9 billion</td>
<td colspan="1" rowspan="1">~ $1.8 billion</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">Unchanged</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Accrued Capex as % of Revenues(1)</td>
<td colspan="1" rowspan="1">7.8&nbsp;%</td>
<td colspan="1" rowspan="1">~ 8.5%</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">Unchanged</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Depreciation &amp; Amortization of Computer Software
&nbsp;&nbsp;&nbsp; Depreciation &amp; Amortization of Internally
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Developed Software
&nbsp;&nbsp;&nbsp; Amortization of Acquired Software
</td>
<td colspan="1" rowspan="1">
$628 million
 $556 million
$72 million
</td>
<td colspan="1" rowspan="1">
$730 - $750 million
 $595 - $615 million
~ $135 million
</td>
<td colspan="1" rowspan="1">
Unchanged
 Unchanged
Unchanged
</td>
<td colspan="1" rowspan="1">
Unchanged
 $580 - $600 million
~ $150 million
</td>
<td colspan="1" rowspan="1">
Unchanged
 Unchanged
Unchanged
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Interest Expense (P&amp;L)(2)</td>
<td colspan="1" rowspan="1">$164 million(2)</td>
<td colspan="1" rowspan="1">$150 - $170 million</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">$125 - $145&nbsp; million</td>
<td colspan="1" rowspan="1">Unchanged</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Effective Tax Rate on Adjusted Earnings(1)</td>
<td colspan="1" rowspan="1">16.5&nbsp;%</td>
<td colspan="1" rowspan="1">~ 18%</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">Unchanged</td>
<td colspan="1" rowspan="1">Unchanged</td>
</tr>
</tbody>
</table>
</figure>

Thomson Reuters Affirms FY24 Sales Guidance Of $7.27B Vs. $7.28B Estimate

Press Releases

Thomson Reuters Reports Fourth-Quarter and Full-Year 2024 Results

Fintech

Thomson Reuters Announces New $150M Corporate Venture Capital Fund

Thomson Reuters Commences Debt Exchange Offers and Consent Solicitations

Thomson Reuters to Transfer U.S. Stock Exchange Listing to Nasdaq

Thomson Reuters to Present at Scotiabank TMT Conference

Thomson Reuters Announces Results of Early Tenders and Extension of Early Tender Time for Debt Exchange Offers and Consent Solicitations

Thomson Reuters Files 2024 Annual Report

Thomson Reuters Files Final Prospectus for Debt Exchange Offers and Consent Solicitations

Thomson Reuters Announces Final Results of Exchange Offers and Consent Solicitations and Intention to File Replacement Base Shelf Prospectus

Thomson Reuters First Quarter 2025 Earnings Announcement and Webcast Scheduled for May 1, 2025

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