T. Rowe Price Group, Inc. (NASDAQ:TROW) to Release Quarterly Earnings on Tuesday
T. Rowe Price Group, Inc. (NASDAQ:TROW) is set to post its quarterly earnings results before the market opens on Tuesday, July 25th. Analysts expect T. Rowe Price Group to post earnings of $1.27 per share for the quarter.
T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Tuesday, April 25th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by $0.02. T. Rowe Price Group had a return on equity of 24.24% and a net margin of 29.59%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The business’s revenue was up 12.0% on a year-over-year basis. On average, analysts expect T. Rowe Price Group to post $5.37 EPS for the current fiscal year and $5.29 EPS for the next fiscal year.
Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 80.16 on Tuesday. The company has a market cap of $19.34 billion, a price-to-earnings ratio of 15.70 and a beta of 1.22. The company’s 50-day moving average price is $72.04 and its 200 day moving average price is $71.72. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $80.64.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.84%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 44.88%.
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A number of equities analysts have issued reports on the company. UBS AG reiterated a “sell” rating and set a $63.00 price target (up previously from $62.00) on shares of T. Rowe Price Group in a research note on Friday. Morgan Stanley reiterated an “underweight” rating and set a $70.00 price target (up previously from $64.00) on shares of T. Rowe Price Group in a research note on Monday, July 10th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research note on Wednesday, June 28th. BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Finally, Jefferies Group LLC set a $83.00 price target on T. Rowe Price Group and gave the company a “buy” rating in a research note on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $72.45.
About T. Rowe Price Group
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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