Wall Street analysts predict that T. Rowe Price (NASDAQ:TROW) will announce $1.29 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for T. Rowe Price’s earnings, with the lowest sales estimate coming in at $1.28 billion and the highest estimate coming in at $1.31 billion. T. Rowe Price posted sales of $1.11 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 16.2%. The company is expected to issue its next quarterly earnings results before the market opens on Wednesday, April 25th.
According to Zacks, analysts expect that T. Rowe Price will report full-year sales of $1.29 billion for the current financial year, with estimates ranging from $5.27 billion to $5.41 billion. For the next financial year, analysts forecast that the company will post sales of $5.59 billion per share, with estimates ranging from $5.41 billion to $5.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover T. Rowe Price.
T. Rowe Price (NASDAQ:TROW) last issued its quarterly earnings data 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 company had revenue of $1.29 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share.
Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in T. Rowe Price by 50.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock valued at $155,000 after buying an additional 491 shares during the last quarter. Calton & Associates Inc. purchased a new stake in T. Rowe Price during the fourth quarter valued at approximately $224,000. Stock Yards Bank & Trust Co. purchased a new stake in T. Rowe Price during the fourth quarter valued at approximately $205,000. Shelton Capital Management purchased a new stake in T. Rowe Price during the fourth quarter valued at approximately $206,000. Finally, Zevin Asset Management LLC purchased a new stake in T. Rowe Price during the fourth quarter valued at approximately $207,000. 72.84% of the stock is owned by institutional investors and hedge funds.
T. Rowe Price stock traded down $3.15 during midday trading on Friday, reaching $104.38. 1,512,584 shares of the company traded hands, compared to its average volume of 1,821,040. The company has a market cap of $26,311.35, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.22 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 firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were issued a dividend of $0.70 per share. This is a boost from T. Rowe Price’s previous quarterly dividend of $0.57. This represents a $2.80 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Wednesday, March 14th. T. Rowe Price’s dividend payout ratio is currently 51.57%.
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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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