Thomson Reuters Corp (NYSE:TRI) Short Interest Up 19.9% in November

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) was the recipient of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 3,430,000 shares, a growth of 19.9% from the November 14th total of 2,860,000 shares. Based on an average daily volume of 405,800 shares, the days-to-cover ratio is currently 8.5 days. Approximately 2.0% of the shares of the company are short sold.

Hedge funds and other institutional investors have recently modified their holdings of the business. CENTRAL TRUST Co increased its position in Thomson Reuters by 53.1% in the third quarter. CENTRAL TRUST Co now owns 470 shares of the business services provider’s stock worth $31,000 after buying an additional 163 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Thomson Reuters during the third quarter valued at $35,000. Advisors Preferred LLC acquired a new position in shares of Thomson Reuters during the second quarter valued at $37,000. Executive Wealth Management LLC acquired a new position in shares of Thomson Reuters during the third quarter valued at $41,000. Finally, Horan Capital Advisors LLC. acquired a new position in shares of Thomson Reuters during the third quarter valued at $42,000. 19.15% of the stock is currently owned by hedge funds and other institutional investors.

NYSE TRI traded up $0.73 during trading hours on Friday, hitting $72.16. The company had a trading volume of 287,756 shares, compared to its average volume of 403,569. Thomson Reuters has a fifty-two week low of $46.45 and a fifty-two week high of $72.58. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $69.38 and a 200-day simple moving average of $67.41. The firm has a market cap of $35.78 billion, a P/E ratio of 96.21, a price-to-earnings-growth ratio of 3.23 and a beta of 0.52.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, October 31st. The business services provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.10. Thomson Reuters had a return on equity of 6.39% and a net margin of 62.70%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts forecast that Thomson Reuters will post 1.23 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, November 20th. Thomson Reuters’s dividend payout ratio is presently 192.00%.

Several brokerages recently issued reports on TRI. Zacks Investment Research cut Thomson Reuters from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America upgraded Thomson Reuters from a “neutral” rating to a “buy” rating in a research note on Monday, November 11th. ValuEngine cut Thomson Reuters from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. National Bank Financial set a $93.00 price objective on Thomson Reuters and gave the stock a “hold” rating in a research note on Saturday, November 2nd. Finally, TD Securities cut Thomson Reuters from a “buy” rating to a “hold” rating and raised their price objective for the stock from $92.00 to $94.00 in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $76.65.

Thomson Reuters Company Profile

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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