Gabelli Research Analysts Lower Earnings Estimates for T. Rowe Price Group Inc. (TROW)
T. Rowe Price Group Inc. (NASDAQ:TROW) – Analysts at Gabelli cut their FY2017 earnings per share (EPS) estimates for T. Rowe Price Group in a research note issued on Wednesday. Gabelli analyst M. Sykes now forecasts that the brokerage will earn $4.90 per share for the year, down from their previous forecast of $4.95. Gabelli also issued estimates for T. Rowe Price Group’s FY2018 earnings at $5.35 EPS, FY2019 earnings at $5.95 EPS and FY2020 earnings at $6.60 EPS.
TROW has been the topic of a number of other reports. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Friday, October 7th. Barclays PLC dropped their target price on shares of T. Rowe Price Group from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 9th. Citigroup Inc. restated a “neutral” rating on shares of T. Rowe Price Group in a research note on Sunday, October 30th. Jefferies Group dropped their target price on shares of T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 11th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. T. Rowe Price Group has an average rating of “Hold” and an average price target of $75.00.
T. Rowe Price Group (NASDAQ:TROW) opened at 73.18 on Thursday. The company has a 50-day moving average of $66.67 and a 200-day moving average of $70.29. T. Rowe Price Group has a one year low of $62.97 and a one year high of $79.00. The stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of 16.51 and a beta of 1.21.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by $0.01. T. Rowe Price Group had a return on equity of 24.78% and a net margin of 26.71%. The firm earned $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. T. Rowe Price Group’s revenue was up 4.1% on a year-over-year basis.
Several hedge funds have recently made changes to their positions in the stock. Osborn Rohs Williams & Donohoe Ltd raised its position in T. Rowe Price Group by 1.7% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 22,557 shares of the company’s stock worth $1,645,000 after buying an additional 375 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in shares of T. Rowe Price Group during the second quarter worth approximately $897,000. Cullinan Associates Inc. increased its position in shares of T. Rowe Price Group by 15.1% in the second quarter. Cullinan Associates Inc. now owns 43,080 shares of the company’s stock worth $3,144,000 after buying an additional 5,650 shares during the period. BlueMountain Capital Management LLC purchased a new position in shares of T. Rowe Price Group during the first quarter worth approximately $192,000. Finally, First Republic Investment Management Inc. increased its position in shares of T. Rowe Price Group by 3.6% in the first quarter. First Republic Investment Management Inc. now owns 305,317 shares of the company’s stock worth $22,430,000 after buying an additional 10,543 shares during the period. Institutional investors and hedge funds own 71.70% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $2.16 annualized dividend and a yield of 2.95%. T. Rowe Price Group’s dividend payout ratio is presently 49.54%.
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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