Zacks: Brokers Predict T. Rowe Price Group, Inc. (NASDAQ: TROW) to Post $ 3.05 Per Share Earnings
Equity research analysts predict that T. Rowe Price Group, Inc. (NASDAQ: TROW) will report earnings of $ 3.05 per share for the current fiscal quarter, according to Zacks. Two analysts provided revenue estimates for T. Rowe Price Group. The lowest EPS estimate is $ 2.99 and the highest is $ 3.10. T. Rowe Price Group reported earnings of $ 2.89 per share for the same quarter last year, which would indicate a positive year-over-year growth rate of 5.5%. The company is expected to release its next quarterly earnings report on Thursday, January 27.
On average, analysts predict that T. Rowe Price Group will report annual earnings of $ 12.73 per share for the current year, with EPS estimates ranging from $ 12.59 to $ 12.93. For next year, analysts predict the company will post earnings of $ 13.21 per share, with EPS estimates ranging from $ 12.27 to $ 13.60. Zacks earnings per share averages are an average based on a survey of research analysts who cover T. Rowe Price Group.
T. Rowe Price Group (NASDAQ: TROW) last reported its quarterly results on Thursday, October 28. The asset manager reported EPS of $ 3.27 for the quarter, missing the consensus estimate of $ 3.31 by $ 0.04. The company posted revenue of $ 1.95 billion in the quarter, compared to analysts’ estimates of $ 1.97 billion. T. Rowe Price Group had a net margin of 41.71% and a return on equity of 36.62%. T. Rowe Price Group revenue for the quarter increased 22.5% from the same quarter last year. In the same quarter of the previous year, the company posted EPS of $ 2.55.
TROW has been the subject of several research reports. BMO Capital Markets raised its target price on T. Rowe Price Group shares from $ 234.00 to $ 253.00 and rated the stock as “market performance” in a report released on Friday, October 29. . They noted that the move was an appraisal call. Zacks Investment Research downgraded T. Rowe Price Group shares from a âbuyâ rating to a âholdâ rating and set a target price of $ 206.00 for the company. in a report on Friday October 8. Citigroup lowered its price target on T. Rowe Price Group shares from $ 169.00 to $ 166.50 and set a âsellâ rating for the company in a report released Monday. Evercore ISI reaffirmed a âbuyâ rating and set a price target of $ 211.00 on shares of T. Rowe Price Group in a report released on Friday, October 8. Finally, Jefferies Financial Group launched a cover on the shares of T. Rowe Price Group in a report released on Friday, September 10. They set a âbuyâ rating and a target price of $ 245.00 for the company. Four analysts gave the stock a sell rating, seven assigned a conservation rating and three gave the company’s stock a buy rating. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $ 193.32.
Meanwhile, Vice President Robert CT Higginbotham sold 7,292 shares of the company in a transaction dated Friday, December 10. The stock was sold for an average price of $ 196.28, for a total trade of $ 1,431,273.76. The transaction was disclosed in a file with the Securities & Exchange Commission, which is available on the SEC website. Company insiders own 1.00% of the company’s shares.
Large investors have recently shifted their positions in the stock. Amundi took a new stake in the shares of T. Rowe Price Group in the second quarter for an amount of approximately $ 245,862,000. BlackRock Inc. increased its position in T. Rowe Price Group shares by 2.4% in the 3rd quarter. BlackRock Inc. now owns 18,760,181 shares of the asset manager valued at $ 3,690,129,000 after acquiring an additional 436,234 shares during the period. Nordea Investment Management AB increased its position in T. Rowe Price Group shares by 100.6% in the 3rd quarter. Nordea Investment Management AB now owns 842,146 shares of the asset manager valued at $ 169,692,000 after acquiring an additional 422,279 shares during the period. Goldman Sachs Group Inc. increased its position in T. Rowe Price Group shares by 32.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,479,481 shares of the asset manager valued at $ 292,892,000 after acquiring an additional 365,458 shares during the period. Finally, the Healthcare of Ontario Pension Plan Trust Fund increased its position in T. Rowe Price Group shares by 297.4% in the second quarter. The Healthcare of Ontario Pension Trust Fund now holds 453,981 shares of the Asset Manager valued at $ 89,875,000 after acquiring an additional 339,743 shares during the period. Hedge funds and other institutional investors hold 70.89% of the company’s shares.
T. Rowe Price Group stock opened at $ 190.02 on Wednesday. The company has a 50-day simple moving average of $ 205.71 and a 200-day simple moving average of $ 205.95. The stock has a market cap of $ 42.71 billion, a PE ratio of 14.32, a price / earnings-growth ratio of 1.74, and a beta of 1.20. T. Rowe Price Group has a 12 month low of $ 145.54 and a 12 month high of $ 224.55.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 30. Shareholders of record on Thursday, December 16 will receive a dividend of $ 1.08 per share. The ex-dividend date for this dividend is Wednesday, December 15. This represents an annualized dividend of $ 4.32 and a dividend yield of 2.27%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 32.55%.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc. is a financial services holding company, which provides investment management services through its subsidiaries. It provides a range of U.S. corporate sponsored mutual funds, other sponsored mutual funds, sub-advisory services, segregated account management, record keeping and related services to individuals, advisers, institutions, financial intermediaries and pension plan promoters.
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