Thomson Reuters Corp (NYSE:TRI) Short Interest Update

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 3,460,000 shares, a growth of 6.1% from the August 30th total of 3,260,000 shares. Based on an average trading volume of 500,200 shares, the days-to-cover ratio is currently 6.9 days. Approximately 2.0% of the company’s stock are short sold.

Several analysts recently weighed in on the company. Bank of America lifted their price objective on Thomson Reuters from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. National Bank Financial downgraded shares of Thomson Reuters from an “outperform” rating to a “sector perform” rating in a report on Monday, July 29th. Macquarie downgraded shares of Thomson Reuters from an “outperform” rating to a “neutral” rating and set a $65.47 target price for the company. in a report on Tuesday, June 25th. Zacks Investment Research downgraded shares of Thomson Reuters from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, ValuEngine downgraded shares of Thomson Reuters from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Thomson Reuters presently has an average rating of “Hold” and a consensus price target of $70.59.

Hedge funds have recently modified their holdings of the company. Advisors Preferred LLC purchased a new stake in shares of Thomson Reuters during the second quarter worth about $37,000. Zions Bancorporation N.A. purchased a new stake in shares of Thomson Reuters during the second quarter worth about $52,000. Meadow Creek Investment Management LLC grew its stake in shares of Thomson Reuters by 17.5% during the second quarter. Meadow Creek Investment Management LLC now owns 1,504 shares of the business services provider’s stock worth $93,000 after acquiring an additional 224 shares during the last quarter. Signaturefd LLC grew its stake in shares of Thomson Reuters by 29.1% during the third quarter. Signaturefd LLC now owns 1,597 shares of the business services provider’s stock worth $107,000 after acquiring an additional 360 shares during the last quarter. Finally, Neuburgh Advisers LLC grew its stake in shares of Thomson Reuters by 17.5% during the second quarter. Neuburgh Advisers LLC now owns 2,068 shares of the business services provider’s stock worth $128,000 after acquiring an additional 308 shares during the last quarter. Institutional investors and hedge funds own 19.26% of the company’s stock.

Thomson Reuters stock traded down $0.17 during trading hours on Wednesday, reaching $66.14. The stock had a trading volume of 20,848 shares, compared to its average volume of 362,743. The company has a market cap of $33.00 billion, a price-to-earnings ratio of 88.34, a PEG ratio of 3.05 and a beta of 0.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.93. The business’s 50 day moving average price is $67.51 and its 200-day moving average price is $65.19. Thomson Reuters has a 52 week low of $46.45 and a 52 week high of $71.28.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, August 1st. The business services provider reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.08. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Thomson Reuters had a net margin of 69.36% and a return on equity of 5.16%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. On average, sell-side analysts forecast that Thomson Reuters will post 1.2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.44 dividend on an annualized basis and a yield of 2.18%. Thomson Reuters’s dividend payout ratio is presently 192.00%.

About Thomson Reuters

Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics.

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