Short Interest in Thomson Reuters Corp (NYSE:TRI) Declines By 6.6%

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 2,530,000 shares, a decrease of 6.6% from the September 30th total of 2,710,000 shares. Based on an average daily volume of 412,200 shares, the short-interest ratio is presently 6.1 days. Approximately 1.5% of the company’s shares are sold short.

A number of large investors have recently made changes to their positions in TRI. Vanguard Group Inc. raised its stake in shares of Thomson Reuters by 1.7% in the second quarter. Vanguard Group Inc. now owns 5,520,452 shares of the business services provider’s stock worth $355,848,000 after purchasing an additional 92,038 shares during the last quarter. TD Asset Management Inc. raised its stake in shares of Thomson Reuters by 0.4% in the second quarter. TD Asset Management Inc. now owns 4,160,398 shares of the business services provider’s stock worth $268,964,000 after purchasing an additional 16,687 shares during the last quarter. Beutel Goodman & Co Ltd. raised its stake in shares of Thomson Reuters by 100.0% in the second quarter. Beutel Goodman & Co Ltd. now owns 3,572,696 shares of the business services provider’s stock worth $220,932,000 after purchasing an additional 1,786,691 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in shares of Thomson Reuters by 2.0% in the second quarter. Mawer Investment Management Ltd. now owns 3,047,089 shares of the business services provider’s stock worth $196,967,000 after purchasing an additional 60,645 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Thomson Reuters by 11.7% in the second quarter. Bank of America Corp DE now owns 2,076,817 shares of the business services provider’s stock worth $133,872,000 after purchasing an additional 216,744 shares during the last quarter. Institutional investors and hedge funds own 19.43% of the company’s stock.

Several equities research analysts recently commented on the company. BMO Capital Markets restated a “hold” rating and set a $95.00 target price on shares of Thomson Reuters in a research report on Friday, August 2nd. Zacks Investment Research lowered Thomson Reuters from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America upgraded Thomson Reuters from a “neutral” rating to a “buy” rating in a research report on Monday, November 11th. TD Securities upped their target price on Thomson Reuters from $94.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, National Bank Financial set a $93.00 target price on Thomson Reuters and gave the company a “hold” rating in a research report on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $72.87.

NYSE:TRI traded up $0.34 on Monday, hitting $70.76. The stock had a trading volume of 7,679 shares, compared to its average volume of 388,022. The business’s fifty day moving average is $67.02 and its 200 day moving average is $66.35. The company has a market cap of $35.20 billion, a PE ratio of 94.23, a P/E/G ratio of 3.16 and a beta of 0.52. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.38. 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 quarterly earnings results on Thursday, October 31st. The business services provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.10. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Thomson Reuters had a return on equity of 6.39% and a net margin of 62.70%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. Equities analysts predict that Thomson Reuters will post 1.23 earnings per share for the current fiscal year.

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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