T. Rowe Price Group Price Target Increased to $84.50 by Analysts at Rowe (TROW)
Stock analysts at Rowe hoisted their price objective on shares of T. Rowe Price Group (NASDAQ:TROW) from $75.00 to $84.50 in a report issued on Tuesday, Analyst Ratings Network.com reports. The firm currently has an “overweight” rating on the stock. Rowe’s price objective would indicate a potential upside of 19.05% from the stock’s previous close.
T. Rowe Price Group (NASDAQ:TROW) traded down 1.13% during mid-day trading on Tuesday, hitting $70.98. 1,306,347 shares of the company’s stock traded hands. T. Rowe Price Group has a one year low of $62.67 and a one year high of $80.26. The stock has a 50-day moving average of $71.97 and a 200-day moving average of $74.26. The company has a market cap of $18.464 billion and a price-to-earnings ratio of 19.67.
T. Rowe Price Group (NASDAQ:TROW) last released its earnings data on Wednesday, July 24th. The company reported $0.92 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.95 by $0.03. The company had revenue of $854.30 million for the quarter, compared to the consensus estimate of $855.76 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group will post $3.78 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at ISI Group initiated coverage on shares of T. Rowe Price Group in a research note to investors on Tuesday. They set a “neutral” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of T. Rowe Price Group from $74.00 to $79.00 in a research note to investors on Thursday, October 3rd. They now have an “equal weight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of T. Rowe Price Group in a research note to investors on Monday, September 9th. They now have a $74.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $79.58.
T. Rowe Price Group, Inc is a financial services holding company, which provides global investment management services through its subsidiaries to individual and institutional investors in the sponsored T.
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