Brokers expect T. Rowe Price Group, Inc. (NASDAQ:TROW) to report earnings of $2.95 per share
Brokers expect T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) to post earnings per share (EPS) of $2.95 for the current fiscal quarter, Zacks reports. Three analysts have made earnings estimates for T. Rowe Price Group, with the lowest EPS estimate of $2.78 and the highest estimate of $3.22. T. Rowe Price Group reported earnings of $3.01 per share in the same quarter last year, suggesting a negative 2% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Monday, January 1.
Zacks says analysts expect T. Rowe Price Group to report annual earnings of $11.92 per share for the current fiscal year, with EPS estimates ranging from $11.35 to $13.00 . For the next fiscal year, analysts expect the company to post earnings of $12.44 per share, with EPS estimates ranging from $11.82 to $12.89. Zacks earnings per share averages are an average average based on a survey of sell-side research firms that provide coverage for T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW – Get Rating) last released its results on Thursday, January 27. The asset manager reported earnings per share of $3.17 for the quarter, beating consensus analyst estimates of $3.07 by $0.10. T. Rowe Price Group achieved a net margin of 40.18% and a return on equity of 35.83%. The company posted revenue of $1.96 billion in the quarter, against analyst estimates of $1.95 billion. During the same period last year, the firm posted earnings per share of $2.89. T. Rowe Price Group revenue for the quarter increased 13.2% compared to the same quarter last year.
TROW has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut its price target on T. Rowe Price Group from $172.00 to $159.00 and set a “hold” rating for the company in a Friday, February 18 research report. Bank of America launched coverage on T. Rowe Price Group in a research report on Thursday, December 16. They set an “underperforming” rating and a target price of $212.00 for the company. Citigroup lowered its price target on T. Rowe Price Group from $159.00 to $136.00 and set a “sell” rating for the company in a Monday, January 24 research report. Morgan Stanley cut its price target on T. Rowe Price Group from $191.00 to $187.00 and set an “equal weight” rating for the company in a Tuesday, February 22 research report. Finally, Goldman Sachs Group downgraded T. Rowe Price Group from a “neutral” rating to a “sell” rating and lowered its target price for the stock from $190.00 to $175.00 in a report of research from Tuesday, January 4. Five investment analysts gave the stock a sell rating, five gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $187.64.
TROW traded down $0.15 during Friday’s trading, hitting $148.92. The company had a trading volume of 973,211 shares, compared to its average volume of 1,774,358. The stock has a market capitalization of $33.93 billion, a P/E ratio of 11.35, a PEG ratio of 2.11 and a beta of 1.28. The company has a 50-day simple moving average of $147.57 and a 200-day simple moving average of $183.15. T. Rowe Price Group has a 52-week low of $133.07 and a 52-week high of $224.55.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 30. Shareholders of record on Tuesday, March 15 will receive a dividend of $1.20. The ex-dividend date is Monday, March 14. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.08. This represents a dividend of $4.80 on an annualized basis and a yield of 3.22%. T. Rowe Price Group’s payout ratio is currently 36.59%.
In other news, insider Jessica M. Hiebler sold 1,260 shares of the company in a trade that took place on Monday, February 28. The stock was sold at an average price of $143.65, for a total transaction of $180,999.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CEO William J. Stromberg sold 15,000 shares of the company in a trade that took place on Tuesday, December 28. The stock was sold at an average price of $199.58, for a total value of $2,993,700.00. The disclosure of this sale can be found here. Insiders have sold 24,476 shares of the company valued at $4,348,930 in the past three months. 1.00% of the shares are currently held by insiders.
Several hedge funds have recently changed their positions in the company. Covestor Ltd purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth approximately $27,000. Amplius Wealth Advisors LLC purchased a new equity stake in T. Rowe Price Group during the fourth quarter at a value of approximately $29,000. Bivin & Associates Inc. purchased a new stake in shares of T. Rowe Price Group during the fourth quarter at a value of approximately $29,000. Neo Ivy Capital Management purchased a new equity stake in T. Rowe Price Group during the fourth quarter for a value of approximately $29,000. Finally, Moors & Cabot Inc. purchased a new equity stake in T. Rowe Price Group during the third quarter for approximately $32,000. 71.35% of the shares are held by institutional investors and hedge funds.
About T. Rowe Price Group (Get an evaluation)
T. Rowe Price Group, Inc is a global investment management organization, which provides investment management services. The company offers a range of mutual funds, sub-advisory services and segregated account management for individual and institutional investors, pension schemes and financial intermediaries.
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