T. Rowe Price Group Upgraded to Buy at UBS AG (TROW)
T. Rowe Price Group (NASDAQ:TROW) was upgraded by analysts at UBS AG from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
T. Rowe Price Group (NASDAQ:TROW) opened at 75.75 on Monday. T. Rowe Price Group has a one year low of $62.34 and a one year high of $80.26. The stock’s 50-day moving average is $72.95 and its 200-day moving average is $74.3. The company has a market cap of $19.597 billion and a price-to-earnings ratio of 20.41.
T. Rowe Price Group (NASDAQ:TROW) last released its earnings data on Thursday, October 24th. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.97 by $0.03. The company had revenue of $884.40 million for the quarter, compared to the consensus estimate of $870.26 million. During the same quarter in the prior year, the company posted $0.94 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group will post $3.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 27th. Investors of record on Monday, December 16th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, December 12th.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital downgraded shares of T. Rowe Price Group from a “sector outperform” rating to a “sector perform” rating in a research note to investors on Friday. They now have a $81.00 price target on the stock, up previously from $80.00. Separately, analysts at Rowe reiterated a “sector perform” rating on shares of T. Rowe Price Group in a research note to investors on Friday. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $84.50 to $81.50 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $80.19.
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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