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

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) was the recipient of a significant growth in short interest during the month of 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. Approximately 1.2% of the company’s shares are short sold. Based on an average daily volume of 761,706 shares, the days-to-cover ratio is currently 4.5 days.

A number of hedge funds have recently modified their holdings of the business. Omnia Family Wealth LLC increased its holdings in Thomson Reuters by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 3,538 shares of the business services provider’s stock worth $164,000 after purchasing an additional 10 shares in the last quarter. Suntrust Banks Inc. increased its holdings in Thomson Reuters by 0.8% in the second quarter. Suntrust Banks Inc. now owns 47,521 shares of the business services provider’s stock worth $2,199,000 after purchasing an additional 368 shares in the last quarter. Bank of Stockton increased its holdings in Thomson Reuters by 15.5% in the third quarter. Bank of Stockton now owns 9,370 shares of the business services provider’s stock worth $429,000 after purchasing an additional 1,260 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in Thomson Reuters by 1.4% in the third quarter. Commonwealth Bank of Australia now owns 91,325 shares of the business services provider’s stock worth $4,187,000 after purchasing an additional 1,288 shares in the last quarter. Finally, Wunderlich Capital Managemnt increased its holdings in Thomson Reuters by 4.6% in the third quarter. Wunderlich Capital Managemnt now owns 33,126 shares of the business services provider’s stock worth $1,520,000 after purchasing an additional 1,455 shares in the last quarter. Institutional investors and hedge funds own 24.51% of the company’s stock.

Thomson Reuters (NYSE:TRI) opened at $43.77 on Thursday. Thomson Reuters has a 1 year low of $42.22 and a 1 year high of $48.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $31,016.89, a PE ratio of 10.50, a PEG ratio of 1.99 and a beta of 0.71.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Wednesday, November 1st. The business services provider reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.10. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Thomson Reuters had a return on equity of 13.91% and a net margin of 27.20%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. research analysts predict that Thomson Reuters will post 2.46 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 16th were issued a $0.345 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $1.38 dividend on an annualized basis and a yield of 3.15%. Thomson Reuters’s payout ratio is currently 33.09%.

A number of equities analysts have recently issued reports on TRI shares. TD Securities upgraded Thomson Reuters from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Goldman Sachs Group started coverage on Thomson Reuters in a research report on Wednesday, November 8th. They set a “sell” rating and a $40.00 price objective for the company. Morgan Stanley raised their price objective on Thomson Reuters from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Scotiabank lowered their price objective on Thomson Reuters from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research downgraded Thomson Reuters from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Thomson Reuters has an average rating of “Hold” and an average target price of $51.23.

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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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