T. Rowe Price Rises as Investors Await Earnings
The shares gained 1.71% at the latest close, while analyst estimates point to lower quarterly earnings and higher revenue.
T. Rowe Price rose 1.71% to $105.83 at the latest close, beating the S&P 500’s 0.2% gain. The Dow and Nasdaq each added 0.04%.
The shares had fallen 4.87% over the prior month, compared with a 4.84% drop for the Finance sector and a 0.35% decline for the S&P 500.
Ahead of the company’s upcoming earnings report, the consensus estimate calls for earnings of $2.61 per share, down 7.12% from the same quarter a year earlier. Revenue is forecast at $1.96 billion, up 3.51%, according to the article.
For the full year, Zacks consensus estimates put earnings at $10.15 per share and revenue at $7.69 billion. Those figures represent increases of 4.42% and 5.13%, respectively, from the previous year.
Zacks reported a forward price-to-earnings ratio of 10.26 for T. Rowe Price, below the industry average of 10.7. Its PEG ratio was 3.45, compared with an industry average of 1.
This article was produced with the help of AI technology.
Source: Yahoo Finance
