RBC Capital analyst Drew Mcreynolds maintained a Buy rating on Thomson Reuters (TRI) yesterday and set a price target of $92.00. The company’s shares closed last Monday at $81.12.
According to TipRanks.com, Mcreynolds is a 4-star analyst with an average return of 9.2% and a 62.8% success rate. Mcreynolds covers the Technology sector, focusing on stocks such as Rogers Communication, Quebecor, and Telus.
Currently, the analyst consensus on Thomson Reuters is a Moderate Buy with an average price target of $93.27.
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Based on Thomson Reuters’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.44 billion and net profit of $241 million. In comparison, last year the company earned revenue of $1.41 billion and had a GAAP net loss of $44 million.
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Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following segments: Legal Professionals, Corporates, Tax Professionals, Reuters News and Global Print. The Legal Professionals segment provides research and workflow products, focusing on intuitive legal research powered by emerging technologies and integrated legal workflow solutions that combine content, tools and analytics to government and law firms. The Corporates segment serves corporate customers, including the seven largest global accounting firms, with full suite of offerings across legal, tax, regulatory and compliance functions. The Tax Professionals segment offers research and workflow products, focusing on intuitive tax offerings and automating tax workflows to government taxing authorities. The Reuters News segment supplies real-time, multi-media news and information services to newspapers, television and cable networks, radio stations and websites around the globe, as well as to Refinitiv. The Global Print segment offers s legal and tax information primarily in print format to customers around the world. The company was founded in 1799 and is headquartered in Toronto, Canada.