Equities Analysts Issue Forecasts for T. Rowe Price Group Inc.’s Q3 2016 Earnings (TROW)
T. Rowe Price Group Inc. (NASDAQ:TROW) – Research analysts at Gabelli boosted their Q3 2016 earnings estimates for T. Rowe Price Group in a research report issued to clients and investors on Wednesday. Gabelli analyst M. Sykes now anticipates that the brokerage will post earnings per share of $1.19 for the quarter, up from their prior forecast of $1.12. Gabelli also issued estimates for T. Rowe Price Group’s Q4 2016 earnings at $1.17 EPS, FY2016 earnings at $4.69 EPS, FY2017 earnings at $5.00 EPS and FY2018 earnings at $5.60 EPS.
A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Friday, October 7th. Barclays PLC decreased their price objective on T. Rowe Price Group from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 9th. Keefe, Bruyette & Woods decreased their price objective on T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, July 27th. Jefferies Group decreased their price objective on T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Deutsche Bank AG lowered T. Rowe Price Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $79.00 to $75.00 in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $75.43.
T. Rowe Price Group (NASDAQ:TROW) traded up 0.11% on Friday, reaching $65.74. 460,841 shares of the company’s stock were exchanged. T. Rowe Price Group has a one year low of $63.57 and a one year high of $79.00. The firm has a 50 day moving average price of $67.36 and a 200 day moving average price of $71.77. The firm has a market cap of $16.34 billion, a PE ratio of 15.84 and a beta of 1.17.
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T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.04. T. Rowe Price Group had a net margin of 25.77% and a return on equity of 22.25%. The business had revenue of $1,000 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $1.24 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.29%. The ex-dividend date was Tuesday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 52.17%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its position in T. Rowe Price Group by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 1,711 shares of the company’s stock valued at $119,000 after buying an additional 42 shares in the last quarter. Euclid Advisors LLC purchased a new position in T. Rowe Price Group during the second quarter valued at $123,000. Societe Generale purchased a new position in T. Rowe Price Group during the second quarter valued at $126,000. WFG Advisors LP increased its position in T. Rowe Price Group by 22.2% in the second quarter. WFG Advisors LP now owns 1,870 shares of the company’s stock valued at $136,000 after buying an additional 340 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its position in T. Rowe Price Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,958 shares of the company’s stock valued at $143,000 after buying an additional 18 shares in the last quarter. 69.64% of the stock is owned by institutional investors.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.
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