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T. Rowe Price (TROW) Stock Sinks As Market Gains: What You Should Know
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T. Rowe Price (TROW - Free Report) closed at $119.57 in the latest trading session, marking a -0.58% move from the prior day. This change lagged the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Prior to today's trading, shares of the financial services firm had gained 1.43% over the past month. This has lagged the Finance sector's gain of 3.84% and outpaced the S&P 500's gain of 1% in that time.
Investors will be hoping for strength from T. Rowe Price as it approaches its next earnings release. The company is expected to report EPS of $1.69, down 46.69% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.51 billion, down 23.25% from the prior-year quarter.
Any recent changes to analyst estimates for T. Rowe Price should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.19% lower. T. Rowe Price is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, T. Rowe Price is holding a Forward P/E ratio of 17.21. Its industry sports an average Forward P/E of 11.24, so we one might conclude that T. Rowe Price is trading at a premium comparatively.
Also, we should mention that TROW has a PEG ratio of 2.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Financial - Investment Management was holding an average PEG ratio of 1.46 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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) Stock Sinks As Market Gains: What You Should Know
T. Rowe Price (TROW - Free Report) closed at $119.57 in the latest trading session, marking a -0.58% move from the prior day. This change lagged the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Prior to today's trading, shares of the financial services firm had gained 1.43% over the past month. This has lagged the Finance sector's gain of 3.84% and outpaced the S&P 500's gain of 1% in that time.
Investors will be hoping for strength from T. Rowe Price as it approaches its next earnings release. The company is expected to report EPS of $1.69, down 46.69% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.51 billion, down 23.25% from the prior-year quarter.
Any recent changes to analyst estimates for T. Rowe Price should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.19% lower. T. Rowe Price is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, T. Rowe Price is holding a Forward P/E ratio of 17.21. Its industry sports an average Forward P/E of 11.24, so we one might conclude that T. Rowe Price is trading at a premium comparatively.
Also, we should mention that TROW has a PEG ratio of 2.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Financial - Investment Management was holding an average PEG ratio of 1.46 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.