Short Interest in Thomson Reuters Corp (TRI) Expands By 83.6%

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 3,431,284 shares, a growth of 83.6% from the November 30th total of 1,869,281 shares. Based on an average daily trading volume, of 761,706 shares, the short-interest ratio is presently 4.5 days. Approximately 1.2% of the shares of the stock are sold short.

Thomson Reuters (NYSE TRI) opened at $44.24 on Friday. The firm has a market capitalization of $31,329.97, a PE ratio of 10.61, a PEG ratio of 2.01 and a beta of 0.71. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.41. Thomson Reuters has a 12-month low of $42.22 and a 12-month high of $48.61.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.10. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Thomson Reuters had a return on equity of 13.91% and a net margin of 27.20%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share. sell-side analysts forecast that Thomson Reuters will post 2.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 16th were issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Wednesday, November 15th. Thomson Reuters’s payout ratio is 33.09%.

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Thomson Reuters from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Credit Suisse Group assumed coverage on Thomson Reuters in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $52.00 price target for the company. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $47.00 to $55.00 in a research note on Tuesday, October 17th. Royal Bank of Canada cut their price objective on Thomson Reuters from $48.00 to $47.00 and set a “sector perform” rating for the company in a research report on Thursday, November 2nd. Finally, Canaccord Genuity restated a “hold” rating and set a $46.00 price objective on shares of Thomson Reuters in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $50.92.

Large investors have recently made changes to their positions in the stock. ETF Managers Group LLC bought a new position in shares of Thomson Reuters in the 2nd quarter valued at about $127,000. Omnia Family Wealth LLC lifted its holdings in shares of Thomson Reuters by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 3,538 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 10 shares during the last quarter. Beach Investment Management LLC. bought a new position in shares of Thomson Reuters in the 2nd quarter valued at about $203,000. Boothbay Fund Management LLC bought a new position in shares of Thomson Reuters in the 3rd quarter valued at about $216,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Thomson Reuters by 44.0% in the 2nd quarter. SG Americas Securities LLC now owns 4,900 shares of the business services provider’s stock valued at $227,000 after acquiring an additional 1,497 shares during the last quarter. 24.51% of the stock is owned by hedge funds and other institutional investors.

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About Thomson Reuters

Thomson Reuters Corp (Thomson Reuters) is a Canada-based provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.

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