Short Interest in Thomson Reuters Co. (NYSE:TRI) Expands By 66.0%

Key Points

• Thomson Reuters experienced a significant increase in short interest, rising by 66.0% to 4,730,000 shares as of July 31, with a days-to-cover ratio of 3.7 days.
• The company's stock price rose by 0.9% to $172.94, and it reported earnings per share of $0.87 for the last quarter, surpassing analysts' expectations of $0.83.
• Thomson Reuters announced a quarterly dividend of $0.595 per share, reflecting an annualized yield of 1.4% and a payout ratio of 65.75%.

Thomson Reuters Co. (NYSE:TRI - Get Free Report) TSE: TRI saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 4,730,000 shares, agrowthof66.0% from the July 15th total of 2,850,000 shares. Currently,3.5% of the company's stock are sold short. Based on an average daily trading volume, of 1,290,000 shares, the short-interest ratio is presently 3.7 days. Based on an average daily trading volume, of 1,290,000 shares, the short-interest ratio is presently 3.7 days. Currently,3.5% of the company's stock are sold short.

Hedge Funds Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently modified their holdings of the company. Cullen Frost Bankers Inc. lifted its holdings in shares of Thomson Reuters by 772.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider's stock valued at $27,000 after buying an additional 139 shares during the period. Curio Wealth LLC lifted its holdings in shares of Thomson Reuters by 16,200.0% during the 2nd quarter. Curio Wealth LLC now owns 163 shares of the business services provider's stock valued at $33,000 after buying an additional 162 shares during the period. Westside Investment Management Inc. bought a new position in shares of Thomson Reuters during the 2nd quarter valued at $34,000. Investment Management Corp VA ADV bought a new position in shares of Thomson Reuters during the 4th quarter valued at $29,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Thomson Reuters during the 2nd quarter valued at $37,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Up 1.4%

TRI stock traded up $2.46 during midday trading on Friday, hitting $178.55. The company's stock had a trading volume of 1,237,461 shares, compared to its average volume of 890,218. The company has a market cap of $80.46 billion, a PE ratio of 36.51, a P/E/G ratio of 5.67 and a beta of 0.77. Thomson Reuters has a 12 month low of $151.60 and a 12 month high of $218.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The firm's 50-day moving average is $194.39 and its 200-day moving average is $185.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.79 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. On average, equities research analysts forecast that Thomson Reuters will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a $0.595 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $2.38 annualized dividend and a yield of 1.3%. Thomson Reuters's dividend payout ratio is 65.75%.

Analysts Set New Price Targets

Several research firms recently weighed in on TRI. TD Securities cut their price target on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Barclays upped their price target on Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. upped their price target on Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Canaccord Genuity Group upped their price target on Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Finally, National Bankshares restated an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Thomson Reuters has an average rating of "Hold" and an average price target of $194.20.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of 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.