$1.90 EPS Expected for T. Rowe Price Group Inc (TROW) This Quarter

Equities research analysts predict that T. Rowe Price Group Inc (NASDAQ:TROW) will announce earnings of $1.90 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for T. Rowe Price Group’s earnings. The lowest EPS estimate is $1.82 and the highest is $1.98. T. Rowe Price Group reported earnings per share of $1.52 in the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The business is expected to announce its next quarterly earnings report on Tuesday, January 29th.

On average, analysts expect that T. Rowe Price Group will report full year earnings of $7.55 per share for the current year, with EPS estimates ranging from $7.30 to $7.67. For the next financial year, analysts anticipate that the firm will post earnings of $7.55 per share, with EPS estimates ranging from $7.04 to $7.80. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, October 25th. The asset manager reported $2.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.37. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. T. Rowe Price Group had a return on equity of 29.52% and a net margin of 33.98%. During the same quarter in the previous year, the firm earned $1.56 earnings per share.



Several research analysts recently issued reports on the company. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $106.00 target price on the stock. in a research report on Saturday. Deutsche Bank cut their target price on T. Rowe Price Group from $109.00 to $103.00 and set a “hold” rating on the stock in a research report on Friday. Morgan Stanley set a $105.00 target price on T. Rowe Price Group and gave the company a “hold” rating in a research report on Wednesday, November 14th. Citigroup cut their target price on T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Finally, Credit Suisse Group dropped their price target on T. Rowe Price Group from $161.00 to $123.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $109.89.

Shares of NASDAQ:TROW traded down $2.52 during mid-day trading on Thursday, hitting $92.44. 91,974 shares of the company traded hands, compared to its average volume of 1,694,326. The stock has a market cap of $23.07 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.10 and a beta of 1.21. T. Rowe Price Group has a 12-month low of $92.01 and a 12-month high of $127.43.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 51.57%.

A number of institutional investors have recently modified their holdings of TROW. Janus Henderson Group PLC lifted its holdings in T. Rowe Price Group by 34.7% during the second quarter. Janus Henderson Group PLC now owns 1,797,932 shares of the asset manager’s stock worth $208,722,000 after acquiring an additional 463,382 shares during the period. AGF Investments Inc. lifted its holdings in 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 acquiring an additional 440,157 shares during the period. BlackRock Inc. lifted its holdings in 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 acquiring an additional 368,297 shares during the period. Bank of America Corp DE lifted its holdings in T. Rowe Price Group by 10.2% during the second quarter. Bank of America Corp DE now owns 2,545,305 shares of the asset manager’s stock worth $295,485,000 after acquiring an additional 236,487 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in T. Rowe Price Group by 9.6% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,297,776 shares of the asset manager’s stock worth $250,871,000 after acquiring an additional 201,553 shares during the period. Institutional investors and hedge funds own 72.47% 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.

See Also: Why is the ex-dividend date different from the record date?

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