Wall Street brokerages expect T. Rowe Price (NASDAQ:TROW) to announce sales of $1.30 billion for the current quarter, according to Zacks. Four analysts have made estimates for T. Rowe Price’s earnings. The highest sales estimate is $1.31 billion and the lowest is $1.28 billion. T. Rowe Price posted sales of $1.11 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 17.1%. The firm is expected to issue its next earnings report before the market opens on Wednesday, April 25th.
According to Zacks, analysts expect that T. Rowe Price will report full year sales of $5.33 billion for the current financial year, with estimates ranging from $5.27 billion to $5.41 billion. For the next year, analysts expect that the business will report sales of $5.59 billion per share, with estimates ranging from $5.39 billion to $5.70 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover T. Rowe Price.
T. Rowe Price (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. T. Rowe Price had a return on equity of 25.30% and a net margin of 31.07%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 earnings per share.
A number of equities research analysts have recently commented on TROW shares. Bank of America raised T. Rowe Price from a “neutral” rating to a “buy” rating and increased their target price for the stock from $113.00 to $125.00 in a research note on Monday, January 8th. Zacks Investment Research raised T. Rowe Price from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Wednesday, December 27th. Credit Suisse Group reissued a “neutral” rating and issued a $123.00 target price (up from $121.00) on shares of T. Rowe Price in a research note on Thursday, February 22nd. BidaskClub raised T. Rowe Price from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 27th. Finally, Morgan Stanley set a $113.00 target price on T. Rowe Price and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given 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 $112.90.
Several institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in shares of T. Rowe Price by 50.1% during the fourth 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 boosted its position in shares of T. Rowe Price by 2.7% during the fourth 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. boosted its position in shares of T. Rowe Price by 30.9% during the fourth 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 boosted its position in shares of T. Rowe Price by 10.0% during the fourth 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. boosted its position in shares of T. Rowe Price by 2.5% during the fourth quarter. GHP Investment Advisors Inc. now owns 22,862 shares of the asset manager’s stock valued at $2,399,000 after buying an additional 550 shares during the last quarter. 73.06% of the stock is currently owned by institutional investors.
Shares of NASDAQ TROW traded up $0.18 during trading on Monday, reaching $108.62. The company had a trading volume of 806,659 shares, compared to its average volume of 1,744,075. T. Rowe Price has a 12-month low of $67.62 and a 12-month high of $120.07. The stock has a market cap of $26,524.15, a P/E ratio of 20.00, a P/E/G ratio of 1.41 and a beta of 1.21.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, March 14th. This is a boost from T. Rowe Price’s previous quarterly dividend of $0.57. This represents a $2.80 annualized dividend and a dividend yield of 2.58%. T. Rowe Price’s dividend payout ratio (DPR) 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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