Zacks: Brokerages Expect T. Rowe Price (TROW) Will Post Earnings of $1.75 Per Share

Brokerages predict that T. Rowe Price (NASDAQ:TROW) will announce $1.75 earnings per share for the current quarter, according to Zacks. Four analysts have issued estimates for T. Rowe Price’s earnings, with estimates ranging from $1.71 to $1.83. T. Rowe Price reported earnings of $1.18 per share during the same quarter last year, which would indicate a positive year over year growth rate of 48.3%. The company is expected to issue its next earnings results before the market opens on Wednesday, April 25th.

According to Zacks, analysts expect that T. Rowe Price will report full year earnings of $7.18 per share for the current fiscal year, with EPS estimates ranging from $7.10 to $7.28. For the next year, analysts expect that the firm will post earnings of $7.44 per share, with EPS estimates ranging from $7.05 to $7.85. Zacks’ EPS calculations are an average based on a survey of analysts that cover T. Rowe Price.

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T. Rowe Price (NASDAQ:TROW) last issued its earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.27 billion. T. Rowe Price had a net margin of 31.07% and a return on equity of 25.30%. T. Rowe Price’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of T. Rowe Price from a “buy” rating to a “hold” rating in a report on Monday, March 12th. BidaskClub raised shares of T. Rowe Price from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 27th. TheStreet raised shares of T. Rowe Price from a “c+” rating to a “b+” rating in a report on Monday, March 5th. ValuEngine raised shares of T. Rowe Price from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Deutsche Bank upped their target price on shares of T. Rowe Price from $115.00 to $116.00 and gave the company a “hold” rating in a report on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. T. Rowe Price presently has a consensus rating of “Hold” and a consensus price target of $110.80.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in T. Rowe Price by 50.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock valued at $155,000 after buying an additional 491 shares during the last quarter. BB&T Securities LLC grew its stake in T. Rowe Price by 2.7% in the 4th quarter. BB&T Securities LLC now owns 18,973 shares of the asset manager’s stock valued at $1,990,000 after buying an additional 492 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in T. Rowe Price by 30.9% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,101 shares of the asset manager’s stock valued at $220,000 after buying an additional 496 shares during the last quarter. Covenant Asset Management LLC grew its stake in T. Rowe Price by 10.0% in the 4th quarter. Covenant Asset Management LLC now owns 5,485 shares of the asset manager’s stock valued at $576,000 after buying an additional 500 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its position in shares of T. Rowe Price by 2.5% during the 4th quarter. GHP Investment Advisors Inc. now owns 22,862 shares of the asset manager’s stock worth $2,399,000 after purchasing an additional 550 shares in the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.

Shares of TROW stock opened at $107.95 on Friday. The stock has a market capitalization of $26,198.84, a PE ratio of 19.88, a PEG ratio of 1.29 and a beta of 1.21. T. Rowe Price has a 52-week low of $67.62 and a 52-week high of $120.07.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $2.80 dividend on an annualized basis and a yield of 2.59%. This is a positive change from T. Rowe Price’s previous quarterly dividend of $0.57. T. Rowe Price’s dividend payout ratio is 51.57%.

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About T. Rowe Price

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.

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

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