T. Rowe Price Group Inc (NASDAQ:TROW) Expected to Post Earnings of $1.86 Per Share

Wall Street analysts expect T. Rowe Price Group Inc (NASDAQ:TROW) to post earnings per share of $1.86 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for T. Rowe Price Group’s earnings, with the lowest EPS estimate coming in at $1.79 and the highest estimate coming in at $1.95. T. Rowe Price Group posted earnings of $1.77 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 5.1%. The company is scheduled to announce its next earnings report on Wednesday, July 24th.

According to Zacks, analysts expect that T. Rowe Price Group will report full year earnings of $7.50 per share for the current year, with EPS estimates ranging from $7.06 to $7.75. For the next fiscal year, analysts anticipate that the firm will report earnings of $7.72 per share, with EPS estimates ranging from $6.74 to $8.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, April 24th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.26. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. T. Rowe Price Group had a return on equity of 28.93% and a net margin of 35.05%. The business’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the business earned $1.74 earnings per share.

A number of analysts have recently weighed in on TROW shares. Bank of America restated a “buy” rating and issued a $107.00 target price (up from $102.00) on shares of T. Rowe Price Group in a research note on Friday, March 8th. Wells Fargo & Co raised their target price on T. Rowe Price Group from $92.00 to $102.00 and gave the company a “market perform” rating in a research note on Wednesday, February 27th. Citigroup raised their target price on T. Rowe Price Group from $91.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, February 27th. Deutsche Bank raised their target price on T. Rowe Price Group from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, March 15th. Finally, Barclays raised their target price on T. Rowe Price Group from $85.00 to $88.00 and gave the company an “underweight” rating in a research note on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $106.75.

Shares of NASDAQ:TROW traded down $0.72 during midday trading on Friday, reaching $105.37. The company’s stock had a trading volume of 4,247 shares, compared to its average volume of 943,929. T. Rowe Price Group has a fifty-two week low of $84.59 and a fifty-two week high of $125.61. The firm has a market cap of $25.03 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.74 and a current ratio of 3.74.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 42.52%.

In other news, Director Mary K. Bush sold 3,500 shares of T. Rowe Price Group stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $107.06, for a total transaction of $374,710.00. Following the transaction, the director now owns 19,243 shares in the company, valued at approximately $2,060,155.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott B. David sold 45,118 shares of T. Rowe Price Group stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $107.88, for a total value of $4,867,329.84. Following the transaction, the vice president now owns 48,454 shares in the company, valued at approximately $5,227,217.52. The disclosure for this sale can be found here. Insiders have sold a total of 68,618 shares of company stock worth $7,400,440 in the last quarter. 3.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Adirondack Trust Co. lifted its stake in T. Rowe Price Group by 606.1% in the 1st quarter. Adirondack Trust Co. now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. Advisory Alpha LLC bought a new stake in T. Rowe Price Group in the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC bought a new stake in T. Rowe Price Group in the 1st quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in T. Rowe Price Group in the 1st quarter valued at approximately $29,000. Finally, Financial Gravity Companies Inc. bought a new stake in T. Rowe Price Group in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

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.

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

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