How does this $1 billion buyback program compare to TRI's historical repurchase activity and to the buyback practices of its main competitors in the information services sector?

Thomson Reuters (TRI) has now announced a $1 billion repurchase programme, split between an automatic share‑purchase plan (ASP) and a Normal Course Issuer Bid that will buy up to 10 million shares. Historically, TRI’s buy‑back activity has hovered around $600‑$800 million per year – the $1 billion effort therefore represents a ≈ 30‑60 % increase over the size of its most recent annual programmes and signals a decisive acceleration of capital return.

When benchmarked against peers in the information‑services space, the scale is mixed. S&P Global (SPGI) has been running a $1.5 billion buy‑back in 2024, roughly 1.5 ×  its market‑cap, while FactSet (FDS) and Moody’s (MCO) have capped programmes at $400‑$500 million – well below TRI’s current commitment. Thus, TRI’s repurchase sits mid‑tier: larger than the smaller‑cap peers but still modest relative to the “mega‑buy‑backs” of the sector’s biggest players.

Trading take‑aways: the $1 billion program should lift TRI’s EPS and ROE, tightening the valuation multiples and providing a floor for the stock price. Technically, TRI has been holding a steady uptrend above its 200‑day moving average, with the next resistance near $170. The announced buy‑back adds a strong catalyst for a short‑to‑medium‑term rally, especially on any pull‑backs to the $155‑$160 range where demand from the ASP is likely to surface. Position‑size modestly on dips, keep a stop just below the 200‑day line, and monitor the NCIB execution timeline – a delayed rollout could temper the upside.