$1.68 EPS Expected for T. Rowe Price Group Inc (TROW) This Quarter

Wall Street analysts predict that T. Rowe Price Group Inc (NASDAQ:TROW) will post earnings of $1.68 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for T. Rowe Price Group’s earnings. The highest EPS estimate is $1.70 and the lowest is $1.65. T. Rowe Price Group reported earnings of $1.52 per share in the same quarter last year, which would indicate a positive year over year growth rate of 10.5%. The firm is scheduled to report its next quarterly earnings results on Tuesday, January 29th.

On average, analysts expect that T. Rowe Price Group will report full-year earnings of $7.45 per share for the current fiscal year, with EPS estimates ranging from $7.39 to $7.50. For the next financial year, analysts forecast that the company will post earnings of $6.56 per share, with EPS estimates ranging from $5.88 to $7.70. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover 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 analysts’ consensus estimates of $1.93 by $0.37. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates 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 company earned $1.56 earnings per share.



TROW has been the topic of a number of research analyst reports. Zacks Investment Research lowered 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, November 17th. Bank of America reissued a “buy” rating and issued a $108.00 target price (down previously from $125.00) on shares of T. Rowe Price Group in a research report on Thursday, December 6th. BidaskClub raised T. Rowe Price Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 16th. Deutsche Bank boosted their target price on T. Rowe Price Group from $118.00 to $119.00 and gave the company a “hold” rating in a research report on Thursday, September 27th. Finally, Morgan Stanley cut their target price on T. Rowe Price Group from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Friday, January 4th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $103.80.

In other T. Rowe Price Group news, VP Christopher D. Alderson sold 5,681 shares of the business’s stock in a transaction on Monday, December 10th. The shares were sold at an average price of $92.22, for a total value of $523,901.82. Following the completion of the transaction, the vice president now owns 118,818 shares in the company, valued at $10,957,395.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

Several large investors have recently bought and sold shares of TROW. OppenheimerFunds Inc. raised its position in shares of T. Rowe Price Group by 92.6% during the second quarter. OppenheimerFunds Inc. now owns 11,628 shares of the asset manager’s stock worth $1,350,000 after purchasing an additional 5,591 shares during the period. Millennium Management LLC raised its position in shares of T. Rowe Price Group by 199.3% during the second quarter. Millennium Management LLC now owns 14,441 shares of the asset manager’s stock worth $1,676,000 after purchasing an additional 28,987 shares during the period. Advisors Asset Management Inc. raised its position in shares of T. Rowe Price Group by 2.2% during the second quarter. Advisors Asset Management Inc. now owns 23,641 shares of the asset manager’s stock worth $2,744,000 after purchasing an additional 502 shares during the period. Verition Fund Management LLC raised its position in shares of T. Rowe Price Group by 80.1% during the second quarter. Verition Fund Management LLC now owns 4,860 shares of the asset manager’s stock worth $564,000 after purchasing an additional 2,162 shares during the period. Finally, Global X Management Co LLC raised its position in shares of T. Rowe Price Group by 22.2% during the second quarter. Global X Management Co LLC now owns 7,411 shares of the asset manager’s stock worth $860,000 after purchasing an additional 1,348 shares during the period. Institutional investors and hedge funds own 70.93% of the company’s stock.

NASDAQ TROW traded down $0.85 on Wednesday, reaching $93.62. The stock had a trading volume of 1,310,533 shares, compared to its average volume of 1,661,493. The firm has a market cap of $23.25 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.47 and a beta of 1.12. T. Rowe Price Group has a 12-month low of $84.59 and a 12-month high of $127.43.

T. Rowe Price Group Company Profile

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.

Featured Story: What is the downside to momentum investing?

Get a free copy of the Zacks research report on T. Rowe Price Group (TROW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply