Brokerages expect T. Rowe Price (NASDAQ:TROW) to announce $1.30 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for T. Rowe Price’s earnings. The lowest sales estimate is $1.28 billion and the highest is $1.31 billion. T. Rowe Price reported sales of $1.11 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 17.1%. The business is expected to report its next earnings results before the market opens on Wednesday, April 25th.
On average, 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 forecast that the company will post sales of $5.59 billion per share, with estimates ranging from $5.39 billion to $5.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover T. Rowe Price.
T. Rowe Price (NASDAQ:TROW) last posted its quarterly earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.04. The firm 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 business’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. lifted its position in shares of T. Rowe Price by 94.1% in the third quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock valued at $64,295,000 after buying an additional 343,926 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of T. Rowe Price by 17.5% in the fourth quarter. Guggenheim Capital LLC now owns 807,029 shares of the asset manager’s stock valued at $84,680,000 after buying an additional 119,957 shares during the last quarter. Marathon Asset Management LLP lifted its position in shares of T. Rowe Price by 3.6% in the fourth quarter. Marathon Asset Management LLP now owns 269,662 shares of the asset manager’s stock valued at $28,296,000 after buying an additional 9,319 shares during the last quarter. Aurora Investment Counsel acquired a new stake in shares of T. Rowe Price in the fourth quarter valued at approximately $2,797,000. Finally, Cullinan Associates Inc. lifted its position in shares of T. Rowe Price by 10.8% in the fourth quarter. Cullinan Associates Inc. now owns 46,785 shares of the asset manager’s stock valued at $4,909,000 after buying an additional 4,555 shares during the last quarter. 73.10% of the stock is owned by institutional investors.
TROW stock traded down $0.39 during mid-day trading on Monday, reaching $108.44. The company had a trading volume of 1,128,001 shares, compared to its average volume of 1,495,379. The company has a market cap of $26,619.55, a price-to-earnings ratio of 19.97, a P/E/G ratio of 1.40 and a beta of 1.21. T. Rowe Price has a 52 week low of $67.62 and a 52 week high of $120.07.
The firm 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%. This is a boost from T. Rowe Price’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Wednesday, March 14th. T. Rowe Price’s dividend payout ratio (DPR) is presently 51.57%.
T. Rowe Price Company Profile
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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