Zacks: Analysts Anticipate T. Rowe Price Group Inc (NASDAQ:TROW) Will Announce Earnings of $1.99 Per Share

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Analysts predict that T. Rowe Price Group Inc (NASDAQ:TROW) will announce $1.99 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for T. Rowe Price Group’s earnings. The highest EPS estimate is $2.09 and the lowest is $1.92. T. Rowe Price Group reported earnings per share of $2.30 during the same quarter last year, which indicates a negative year-over-year growth rate of 13.5%. The company is scheduled to report its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that T. Rowe Price Group will report full-year earnings of $7.78 per share for the current financial year, with EPS estimates ranging from $7.63 to $8.00. For the next fiscal year, analysts forecast that the firm will report earnings of $8.15 per share, with EPS estimates ranging from $7.24 to $8.65. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow T. Rowe Price Group.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.15. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm earned $1.87 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year.

Several analysts have weighed in on TROW shares. UBS Group boosted their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Citigroup boosted their target price on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Barclays boosted their target price on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the company an “underweight” rating in a research note on Thursday, April 25th. Finally, Deutsche Bank lowered their target price on shares of T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $109.75.

TROW stock traded up $1.91 during trading on Friday, hitting $107.37. 601,700 shares of the company’s stock traded hands, compared to its average volume of 1,315,230. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.02. T. Rowe Price Group has a 52 week low of $84.59 and a 52 week high of $117.68. The stock has a fifty day moving average price of $109.96 and a two-hundred day moving average price of $104.24. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05.

In other news, VP Christopher D. Alderson sold 36,898 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $114.41, for a total transaction of $4,221,500.18. Following the completion of the transaction, the vice president now owns 414,144 shares of the company’s stock, valued at $47,382,215.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mary K. Bush sold 3,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $107.06, for a total transaction of $374,710.00. Following the transaction, the director now directly owns 19,243 shares of the company’s stock, valued at approximately $2,060,155.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,209 shares of company stock valued at $7,302,649. Corporate insiders own 3.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Adirondack Trust Co. lifted its holdings in T. Rowe Price Group by 606.1% in the first quarter. Adirondack Trust Co. now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 200 shares during the period. Advisory Alpha LLC acquired a new stake in T. Rowe Price Group in the first quarter worth about $27,000. Kistler Tiffany Companies LLC lifted its holdings in T. Rowe Price Group by 66.7% in the second quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock worth $27,000 after purchasing an additional 100 shares during the period. LFA Lugano Financial Advisors SA acquired a new stake in T. Rowe Price Group in the first quarter worth about $29,000. Finally, Trustcore Financial Services LLC lifted its holdings in T. Rowe Price Group by 353.8% in the first quarter. Trustcore Financial Services LLC now owns 295 shares of the asset manager’s stock worth $30,000 after purchasing an additional 230 shares during the period. 69.51% of the stock is owned by institutional investors and hedge funds.

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.

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

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