Thomson Reuters Corp (TRI.TO)

EPS of 87c beat estimates of 82c; revenue of $1.78B missed estimates of $1.80B. EBITDA of $678M beat estimates by 3%. Revenue rose 3%. Transactions revenue was up 5% but global print revenue was down. In the Q3, TRI expects 7% organic growth. Guidance for the year was re-iterated. We are comfortable with the results. While not a blow-out, good growth is still expected.  The stock has been very strong and we would not read too much into today's decline.
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This name is basically nothing but data, and we've been talking about AI over the last couple of years. Significant opportunity to layer AI over their data in law, healthcare, and financial services. That's the long-term story here, we're in very early days.

Mission-critical information for legal, tax, and accounting professions. Not huge topline growth. Very strong recurring revenues. Always looks expensive, today PE is ~50x. You can get twice the same earnings yield in bonds and in the markets.

TRI remains one of our favourite conservative-growth companies. It has held up very well in the market meltdown. It does have a premium valuation, but we would still be comfortable buying in the $245 range. 
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Very much technology-driven in have-to-have services in accounting, law, and other areas. Gaining penetration in its industries. Problem now is the high multiple, has become more like a growth stock. Better places to look.

It never hurts to take a profit, because you never really make money until you actually realize it. Overall, he's cautious on markets. When markets fall, they often throw the baby out with the bathwater; good companies go down, but perhaps not as much as the high flyers.

One of the stronger companies and brands in Canada. Successful transition to a digital company, offering subscriptions to data. Low capex, recurring revenue. Profitability was challenged, but now improving nicely. Very expensive at 43x PE. Small yield of 1.3%.

Stay away for now on valuation, but watch, consider buying if shares correct.

Great business, you'll do really well. He hasn't done enough research into it to compare it to what's already in his portfolio. But charts don't lie.

Its ability to repurpose from newspapers and radio into data is just breathtaking. Loves the capital-light, subscription-type businesses. AI has not hurt its business. See his Top Picks.

Once you subscribe to their platform, you won't leave. TRI would benefit from AI, given all the data they already have.

Checks a number of boxes. Founder-run, founder-owned. Nice ROIC. However, growth hasn't been there, in mid-single-digits. Very expensive at 33x PE. Classic example of excellent business, but challenging valuation.

Gently sloping uptrend since October 2022, but has now jumped up off trendline. Could be considered overbought, but you have to watch momentum indicators. He really likes the money flow indicator you can get from stockcharts.com.

He uses a weekly chart for momentum. If it's overbought, he lets it rest awhile. Could be starting a pullback, when it would be a good opportunity to buy.

Company has large amount of product lines. Data and and financial markets very profitable. A.I. tech will also help company continue to grow. Company working hard to integrate machine language into business model. Very good for long term investors. 

More of a growth-oriented stock. Since it's had such a run, dollar cost averaging would make sense on this one. It could potentially slide back after the runup. A smaller yield, so you're trying to buy cheaper to get the capital growth.

A rare quality company in Canada (like DOL-T). The Thomson family still owns a ton of shares, great cash flow and are capital-lite. All good. PE is high but worth it. That said, he prefers US stocks like Moodys and Costar. Would watch this.

Strong Canadian brand. Successful transition to digital economy. Subscription services for legal, financial, news, and tax data. Low capex, recurring revenue. Profitability improving. Expensive multiple, too high, he's patient and will wait for it to come down.

Refocused, and the stock chart reflects that. Well run. Attractive market niche. Valuation too high to buy today. But if you hold, keep on holding and let it work for you. GAARP idea, not for the dividend. See his Top Picks for dividend ideas.