Analysts Expect T. Rowe Price Group, Inc. (TROW) Will Post Earnings of $1.25 Per Share
Wall Street brokerages predict that T. Rowe Price Group, Inc. (NASDAQ:TROW) will announce earnings of $1.25 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for T. Rowe Price Group’s earnings, with the lowest EPS estimate coming in at $1.21 and the highest estimate coming in at $1.28. T. Rowe Price Group posted earnings per share of $1.15 during the same quarter last year, which indicates a positive year-over-year growth rate of 8.7%. The company is expected to report its next earnings report on Tuesday, July 25th.
According to Zacks, analysts expect that T. Rowe Price Group will report full-year earnings of $5.00 per share for the current year, with EPS estimates ranging from $4.79 to $5.36. For the next financial year, analysts anticipate that the firm will post earnings of $5.23 per share, with EPS estimates ranging from $4.94 to $5.68. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Tuesday, April 25th. The asset manager reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.02. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. T. Rowe Price Group had a net margin of 29.59% and a return on equity of 24.24%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the firm earned $1.15 earnings per share.
Several research analysts have recently commented on TROW shares. TheStreet upgraded T. Rowe Price Group from a “c+” rating to a “b-” rating in a research report on Friday, April 28th. Jefferies Group LLC set a $83.00 price target on T. Rowe Price Group and gave the stock a “buy” rating in a research report on Tuesday. ValuEngine lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Deutsche Bank AG restated a “hold” rating and set a $71.00 price target (down from $74.00) on shares of T. Rowe Price Group in a research report on Monday, May 1st. Finally, Argus lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.18.
Shares of T. Rowe Price Group (NASDAQ:TROW) opened at 73.20 on Friday. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 14.34 and a beta of 1.27. T. Rowe Price Group has a 12 month low of $62.97 and a 12 month high of $78.95. The firm’s 50-day moving average price is $71.60 and its 200-day moving average price is $71.80.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders 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 3.11%. The ex-dividend date of this dividend is Tuesday, June 13th. T. Rowe Price Group’s dividend payout ratio is presently 44.88%.
A number of hedge funds have recently bought and sold shares of TROW. SRS Capital Advisors Inc. acquired a new stake in T. Rowe Price Group during the fourth quarter worth $123,000. Quadrant Capital Group LLC boosted 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 in the last quarter. Mosaic Family Wealth LLC boosted its stake in T. Rowe Price Group by 4.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock worth $134,000 after buying an additional 85 shares in the last quarter. FNY Partners Fund LP acquired a new stake in T. Rowe Price Group during the first quarter worth $147,000. Finally, Duncker Streett & Co. Inc. boosted 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 in the last quarter. Institutional investors own 70.65% of the company’s stock.
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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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