Zacks: Brokerages Anticipate T. Rowe Price Group Inc (TROW) to Post $1.85 EPS

Equities research analysts expect T. Rowe Price Group Inc (NASDAQ:TROW) to announce earnings of $1.85 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for T. Rowe Price Group’s earnings. The lowest EPS estimate is $1.74 and the highest is $1.98. T. Rowe Price Group posted earnings of $1.52 per share during the same quarter last year, which would indicate a positive year over year growth rate of 21.7%. The company is scheduled to issue its next quarterly earnings report on Tuesday, January 29th.

On average, analysts expect that T. Rowe Price Group will report full-year earnings of $7.67 per share for the current fiscal year. For the next year, analysts forecast that the business will report earnings of $7.55 per share, with EPS estimates ranging from $7.04 to $7.80. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, October 25th. The asset manager reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.37. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. During the same quarter last year, the firm posted $1.56 EPS.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a research note on Thursday, October 11th. Deutsche Bank lowered their price objective on T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Bank of America restated a “buy” rating and issued a $108.00 price objective (down from $125.00) on shares of T. Rowe Price Group in a research note on Thursday. Morgan Stanley boosted their price objective on T. Rowe Price Group from $116.00 to $118.00 and gave the company a “hold” rating in a research note on Tuesday, October 9th. Finally, Citigroup lowered their price objective on T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $108.00.

TROW opened at $93.28 on Friday. The firm has a market cap of $22.93 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.09 and a beta of 1.21. T. Rowe Price Group has a 1 year low of $91.48 and a 1 year high of $127.43.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 51.57%.

A number of institutional investors have recently made changes to their positions in TROW. Janus Henderson Group PLC raised its holdings in T. Rowe Price Group by 34.7% in the second quarter. Janus Henderson Group PLC now owns 1,797,932 shares of the asset manager’s stock worth $208,722,000 after purchasing an additional 463,382 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of T. Rowe Price Group by 2.2% during the third quarter. Vanguard Group Inc. now owns 21,212,245 shares of the asset manager’s stock worth $2,315,952,000 after buying an additional 457,683 shares during the period. AGF Investments Inc. boosted its position in shares of T. Rowe Price Group by 131.4% during the second quarter. AGF Investments Inc. now owns 775,010 shares of the asset manager’s stock worth $89,971,000 after buying an additional 440,157 shares during the period. BlackRock Inc. boosted its position in shares of T. Rowe Price Group by 2.2% during the second quarter. BlackRock Inc. now owns 17,346,810 shares of the asset manager’s stock worth $2,013,792,000 after buying an additional 368,297 shares during the period. Finally, Bank of America Corp DE boosted its holdings in T. Rowe Price Group by 10.2% in the second quarter. Bank of America Corp DE now owns 2,545,305 shares of the asset manager’s stock valued at $295,485,000 after purchasing an additional 236,487 shares during the period. Institutional investors and hedge funds own 71.57% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

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