Zacks: Brokerages Anticipate T. Rowe Price Group Inc (TROW) to Announce $1.25 Earnings Per Share
Wall Street brokerages expect that T. Rowe Price Group Inc (NASDAQ:TROW) will report earnings per share of $1.25 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for T. Rowe Price Group’s earnings. The highest EPS estimate is $1.28 and the lowest is $1.21. T. Rowe Price Group posted earnings per share of $1.15 in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.7%. The company is scheduled to report its next earnings report on Tuesday, July 25th.
On average, analysts expect that T. Rowe Price Group will report full year earnings of $4.90 per share for the current year, with EPS estimates ranging from $4.79 to $4.96. For the next financial year, analysts anticipate that the business will report earnings of $5.18 per share, with EPS estimates ranging from $4.94 to $5.60. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, April 25th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by $0.02. The firm earned $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. T. Rowe Price Group had a return on equity of 24.49% and a net margin of 28.28%. T. Rowe Price Group’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS.
A number of research analysts have recently commented on the stock. Deutsche Bank AG restated a “hold” rating and issued a $71.00 price target (down from $74.00) on shares of T. Rowe Price Group in a report on Monday. Credit Suisse Group AG set a $62.00 price target on shares of T. Rowe Price Group and gave the stock a “hold” rating in a report on Saturday, February 4th. JPMorgan Chase & Co. restated an “underweight” rating on shares of T. Rowe Price Group in a report on Thursday, January 12th. Argus cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Finally, TheStreet upgraded shares of T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $73.18.
Shares of T. Rowe Price Group (NASDAQ:TROW) opened at 71.86 on Thursday. The company has a market cap of $17.34 billion, a price-to-earnings ratio of 14.07 and a beta of 1.29. The firm has a 50-day moving average of $69.93 and a 200-day moving average of $71.14. T. Rowe Price Group has a one year low of $62.97 and a one year high of $78.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, June 15th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 46.06%.
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In related news, Director Anne M. Whittemore sold 8,326 shares of the company’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $71.02, for a total value of $591,312.52. Following the completion of the sale, the director now directly owns 25,947 shares of the company’s stock, valued at $1,842,755.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in T. Rowe Price Group by 1.4% in the first quarter. Quadrant Capital Group LLC now owns 1,660 shares of the asset manager’s stock worth $107,000 after buying an additional 23 shares during the period. Mosaic Family Wealth LLC raised its stake in T. Rowe Price Group by 13.7% in the third quarter. Mosaic Family Wealth LLC now owns 1,823 shares of the asset manager’s stock worth $121,000 after buying an additional 220 shares during the period. SRS Capital Advisors Inc. acquired a new stake in T. Rowe Price Group during the fourth quarter worth $123,000. Virtus Investment Advisers Inc. acquired a new stake in T. Rowe Price Group during the third quarter worth $137,000. Finally, Duncker Streett & Co. Inc. raised its stake in T. Rowe Price Group by 57.9% in the first quarter. Duncker Streett & Co. Inc. now owns 2,472 shares of the asset manager’s stock worth $168,000 after buying an additional 906 shares during the period. 71.35% of the stock is owned by institutional investors.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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