Research Analysts Issue Forecasts for T. Rowe Price Group Inc.’s FY2016 Earnings (TROW)
T. Rowe Price Group Inc. (NASDAQ:TROW) – Equities research analysts at Jefferies Group increased their FY2016 earnings per share estimates for T. Rowe Price Group in a research note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now forecasts that the brokerage will earn $4.71 per share for the year, up from their prior estimate of $4.66. Jefferies Group currently has a “Buy” rating and a $80.00 target price on the stock.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. The company had revenue of $1,000 million for the quarter, compared to analyst estimates of $1.03 billion. T. Rowe Price Group had a net margin of 25.77% and a return on equity of 22.25%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 EPS.
Other equities analysts also recently issued reports about the stock. Deutsche Bank AG reissued a “buy” rating on shares of T. Rowe Price Group in a report on Sunday, July 10th. Barclays PLC cut their price target on shares of T. Rowe Price Group from $76.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 24th. Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $74.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Zacks Investment Research raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Friday, October 7th. Finally, TheStreet downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $75.43.
Shares of T. Rowe Price Group (NASDAQ:TROW) opened at 65.67 on Wednesday. The company’s 50 day moving average is $67.36 and its 200 day moving average is $71.77. T. Rowe Price Group has a one year low of $63.57 and a one year high of $79.00. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 15.82 and a beta of 1.17.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Tuesday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.17%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in T. Rowe Price Group by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 1,711 shares of the company’s stock valued at $119,000 after buying an additional 42 shares during the period. Euclid Advisors LLC acquired a new position in shares of T. Rowe Price Group during the second quarter worth approximately $123,000. Societe Generale acquired a new position in shares of T. Rowe Price Group during the second quarter worth approximately $126,000. WFG Advisors LP boosted its position in shares of T. Rowe Price Group by 22.2% in the second quarter. WFG Advisors LP now owns 1,870 shares of the company’s stock worth $136,000 after buying an additional 340 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in shares of T. Rowe Price Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,958 shares of the company’s stock worth $143,000 after buying an additional 18 shares during the last quarter. Institutional investors own 69.64% of the company’s stock.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.
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