T. Rowe Price Group Receives New Coverage from Analysts at Deutsche Bank (TROW)
Deutsche Bank assumed coverage on shares of T. Rowe Price Group (NASDAQ:TROW) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $93.00 price target on the stock. Deutsche Bank’s price target would suggest a potential upside of 17.68% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Susquehanna raised their price target on shares of T. Rowe Price Group from $82.00 to $85.00 in a research note on Tuesday, May 6th. They now have a “neutral” rating on the stock. Separately, analysts at Argus raised their price target on shares of T. Rowe Price Group from $84.00 to $90.00 in a research note on Monday, April 28th. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of T. Rowe Price Group in a research note on Friday, April 25th. They now have a $86.00 price target on the stock. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $87.44.
Shares of T. Rowe Price Group (NASDAQ:TROW) opened at 79.03 on Friday. T. Rowe Price Group has a 1-year low of $69.90 and a 1-year high of $84.73. The stock’s 50-day moving average is $80.94 and its 200-day moving average is $80.64. The company has a market cap of $20.764 billion and a price-to-earnings ratio of 19.23.
T. Rowe Price Group (NASDAQ:TROW) last released its earnings data on Thursday, April 24th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.02. The company had revenue of $954.60 million for the quarter, compared to the consensus estimate of $948.36 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group will post $4.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Wednesday, June 11th.
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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