$1.39 Billion in Sales Expected for T. Rowe Price Group Inc (TROW) This Quarter

Analysts predict that T. Rowe Price Group Inc (NASDAQ:TROW) will announce sales of $1.39 billion for the current quarter, Zacks reports. Four analysts have provided estimates for T. Rowe Price Group’s earnings, with the highest sales estimate coming in at $1.41 billion and the lowest estimate coming in at $1.37 billion. T. Rowe Price Group reported sales of $1.29 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.8%. The business 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 sales of $5.46 billion for the current financial year, with estimates ranging from $5.44 billion to $5.47 billion. For the next year, analysts expect that the company will post sales of $5.62 billion, with estimates ranging from $5.42 billion to $5.84 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover T. Rowe Price Group.

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

TROW has been the subject of several research reports. Deutsche Bank increased their price objective 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. Wells Fargo & Co reduced their price objective on T. Rowe Price Group from $115.00 to $106.00 and set a “market perform” rating for the company in a research report on Friday, October 26th. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $106.00 price objective for the company. in a research report on Saturday, November 17th. BidaskClub cut T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. Finally, Barclays reduced their price objective on T. Rowe Price Group from $114.00 to $95.00 and set an “underweight” rating for the company in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $109.89.

Shares of TROW traded up $2.51 during mid-day trading on Friday, hitting $94.51. The company’s stock had a trading volume of 1,860,299 shares, compared to its average volume of 1,740,350. T. Rowe Price Group has a one year low of $91.48 and a one year high of $127.43. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 1.05 and a beta of 1.21.

The company also recently announced 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. The ex-dividend date is Thursday, December 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. T. Rowe Price Group’s payout ratio is 51.57%.

Several hedge funds and other institutional investors have recently modified their holdings of TROW. Janus Henderson Group PLC raised its stake in shares of 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 valued at $208,722,000 after purchasing an additional 463,382 shares in the last quarter. AGF Investments Inc. raised its stake in shares of T. Rowe Price Group by 131.4% in the second quarter. AGF Investments Inc. now owns 775,010 shares of the asset manager’s stock valued at $89,971,000 after purchasing an additional 440,157 shares in the last quarter. BlackRock Inc. raised its stake in shares of T. Rowe Price Group by 2.2% in the second quarter. BlackRock Inc. now owns 17,346,810 shares of the asset manager’s stock valued at $2,013,792,000 after purchasing an additional 368,297 shares in the last quarter. Bank of America Corp DE raised its stake in shares of 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 in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd raised its stake in shares of T. Rowe Price Group by 9.6% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,297,776 shares of the asset manager’s stock valued at $250,871,000 after purchasing an additional 201,553 shares in the last quarter. 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.

Read More: How to use beta for portfolio diversification

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