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Baltimore, Maryland-based T. Rowe Price Group, Inc. (TROW), a global investment management firm with a market cap of $26.5 billion, provides comprehensive financial services, including mutual funds and investment planning across international markets. The company is expected to release its fiscal Q2 earnings results before the market opens on Friday, Jul. 26.
Ahead of this event, analysts expect TROW to report a profit of $2.24 per share, up 10.9% from $2.02 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in each of the last four quarterly reports. Higher investment advisory fees helped the company surpass the consensus EPS estimate by 18.4% in the most recent quarter.
For fiscal 2024, analysts expect TROW to report EPS of $8.96, up 18.1% from $7.59 in fiscal 2023. Looking forward to fiscal 2025, analysts project the company to experience marginal annual EPS growth, reaching an estimated $9.04.
T. Rowe Price Group has risen 2.8% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 25.4% gain and the S&P 500 S&P 500 Financials Sector SPDR's (XLF) 26.2% increase over the same period.
On Apr. 26, shares of TROW surged 4.8% due to its Q1 earnings report beating expectations. The company's strong profitability, bolstered by market gains that boosted assets under management despite net outflows, significantly bolstered investor confidence and drove the stock price increase.
However, analysts' consensus view on T. Rowe Price Group stock isn’t quite favorable, with a "Moderate Sell" rating overall. Out of 13 analysts covering the stock, eight recommend a "Hold," one has a "Moderate Sell" rating, and the remaining four give a "Strong Sell" rating.
The above consensus has remained steady over the past three months. Currently, TROW is trading above the average analyst price target of $115.83.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
