T. Rowe Price (NASDAQ:TROW) is set to issue its quarterly earnings data before the market opens on Monday, April 23rd. Analysts expect the company to announce earnings of $1.69 per share for the quarter.
T. Rowe Price (NASDAQ:TROW) last announced its earnings results 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 company had revenue of $1.29 billion during 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%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. On average, analysts expect T. Rowe Price to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.
Shares of TROW opened at $108.44 on Friday. The stock has a market cap of $26,631.78, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.40 and a beta of 1.21. T. Rowe Price has a 12-month low of $67.62 and a 12-month high of $120.07.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Wednesday, March 14th. This is a positive change from T. Rowe Price’s previous quarterly dividend of $0.57. T. Rowe Price’s payout ratio is currently 51.57%.
A number of equities analysts have recently weighed in on TROW shares. Bank of America raised shares of T. Rowe Price from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $113.00 to $125.00 in a research report on Monday, January 8th. Credit Suisse Group boosted their price objective on shares of T. Rowe Price from $123.00 to $128.00 and gave the company a “neutral” rating in a research report on Thursday, April 5th. BidaskClub raised shares of T. Rowe Price from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 27th. TheStreet raised shares of T. Rowe Price from a “c+” rating to a “b+” rating in a research report on Monday, March 5th. Finally, Morgan Stanley set a $113.00 price objective on shares of T. Rowe Price and gave the company a “hold” rating in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $110.80.
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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