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T. Rowe Price (TROW) Dips More Than Broader Markets: What You Should Know
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T. Rowe Price (TROW - Free Report) closed at $113.61 in the latest trading session, marking a -1.64% move from the prior day. This change lagged the S&P 500's daily loss of 0.88%. Meanwhile, the Dow lost 0.82%, and the Nasdaq, a tech-heavy index, added 0.08%.
Heading into today, shares of the financial services firm had lost 6.77% over the past month, outpacing the Finance sector's loss of 9.44% and the S&P 500's loss of 8.06% in that time.
Wall Street will be looking for positivity from T. Rowe Price as it approaches its next earnings report date. This is expected to be July 28, 2022. On that day, T. Rowe Price is projected to report earnings of $2.64 per share, which would represent a year-over-year decline of 20.24%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.84 billion, down 4.7% from the year-ago period.
TROW's full-year Zacks Consensus Estimates are calling for earnings of $10.46 per share and revenue of $7.46 billion. These results would represent year-over-year changes of -17.96% and -2.77%, respectively.
It is also important to note the recent changes to analyst estimates for T. Rowe Price. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. T. Rowe Price is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, T. Rowe Price currently has a Forward P/E ratio of 11.05. This represents a premium compared to its industry's average Forward P/E of 9.
It is also worth noting that TROW currently has a PEG ratio of 1.87. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Financial - Investment Management industry currently had an average PEG ratio of 1.11 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TROW in the coming trading sessions, be sure to utilize Zacks.com.
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T. Rowe Price (TROW) Dips More Than Broader Markets: What You Should Know
T. Rowe Price (TROW - Free Report) closed at $113.61 in the latest trading session, marking a -1.64% move from the prior day. This change lagged the S&P 500's daily loss of 0.88%. Meanwhile, the Dow lost 0.82%, and the Nasdaq, a tech-heavy index, added 0.08%.
Heading into today, shares of the financial services firm had lost 6.77% over the past month, outpacing the Finance sector's loss of 9.44% and the S&P 500's loss of 8.06% in that time.
Wall Street will be looking for positivity from T. Rowe Price as it approaches its next earnings report date. This is expected to be July 28, 2022. On that day, T. Rowe Price is projected to report earnings of $2.64 per share, which would represent a year-over-year decline of 20.24%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.84 billion, down 4.7% from the year-ago period.
TROW's full-year Zacks Consensus Estimates are calling for earnings of $10.46 per share and revenue of $7.46 billion. These results would represent year-over-year changes of -17.96% and -2.77%, respectively.
It is also important to note the recent changes to analyst estimates for T. Rowe Price. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. T. Rowe Price is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, T. Rowe Price currently has a Forward P/E ratio of 11.05. This represents a premium compared to its industry's average Forward P/E of 9.
It is also worth noting that TROW currently has a PEG ratio of 1.87. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Financial - Investment Management industry currently had an average PEG ratio of 1.11 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TROW in the coming trading sessions, be sure to utilize Zacks.com.