TD – Thomson Reuters Co. (NYSE:TRI) Sees Large Drop in Short Interest
Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 744,500 shares, a drop of 28.4% from the March 15th total of 1,040,000 shares. Based on an average daily volume of 500,300 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.5% of the shares of the company are short sold.
Shares of Thomson Reuters stock traded up $0.71 during trading hours on Friday, hitting $92.59. 316,532 shares of the company were exchanged, compared to its average volume of 498,786. The business has a 50-day moving average of $88.46 and a 200-day moving average of $83.30. The stock has a market capitalization of $45.82 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 3.15 and a beta of 0.47. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.39. Thomson Reuters has a 1 year low of $64.47 and a 1 year high of $92.48.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Monday, February 22nd. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.08. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Thomson Reuters had a return on equity of 8.89% and a net margin of 31.66%. Thomson Reuters’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. As a group, research analysts anticipate that Thomson Reuters will post 1.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Friday, March 5th were issued a $0.405 dividend. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 4th. This represents a $1.62 annualized dividend and a yield of 1.75%. Thomson Reuters’s dividend payout ratio is 117.83%.
A number of institutional investors have recently bought and sold shares of TRI. Norges Bank acquired a new stake in Thomson Reuters in the fourth quarter valued at $143,020,000. TPG Group Holdings SBS Advisors Inc. grew its holdings in Thomson Reuters by 88.4% in the fourth quarter. TPG Group Holdings SBS Advisors Inc. now owns 3,049,800 shares of the business services provider’s stock valued at $249,748,000 after purchasing an additional 1,430,600 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Thomson Reuters by 30.3% in the fourth quarter. Mackenzie Financial Corp now owns 4,849,814 shares of the business services provider’s stock valued at $395,719,000 after purchasing an additional 1,126,585 shares during the last quarter. Findlay Park Partners LLP grew its holdings in Thomson Reuters by 338.3% in the fourth quarter. Findlay Park Partners LLP now owns 1,000,000 shares of the business services provider’s stock valued at $81,890,000 after purchasing an additional 771,842 shares during the last quarter. Finally, AGF Investments Inc. boosted its stake in shares of Thomson Reuters by 142.7% during the fourth quarter. AGF Investments Inc. now owns 801,812 shares of the business services provider’s stock valued at $65,624,000 after acquiring an additional 471,407 shares during the last quarter. 20.49% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of Thomson Reuters from $98.00 to $92.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 23rd. Royal Bank of Canada lifted their price target on shares of Thomson Reuters from $92.00 to $98.00 and gave the company an “outperform” rating in a research note on Monday, February 22nd. The Goldman Sachs Group started coverage on shares of Thomson Reuters in a research note on Wednesday, February 17th. They issued a “neutral” rating and a $88.00 price target on the stock. Zacks Investment Research cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Wednesday, March 17th. Finally, TD Securities lifted their price target on Thomson Reuters from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $96.00.
Thomson Reuters Company Profile
Thomson Reuters Corporation provides business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting 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 to law firms and governments.
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