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T. Rowe Price (TROW) Q1 Earnings Lag on High Costs
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Have you been eager to see how T. Rowe Price Group, Inc. (TROW - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this MD-based popular asset management firm’s earnings release this morning:
An Earnings Miss
T. Rowe Price came out with adjusted earnings per share of $1.18, lagging the Zacks Consensus Estimate of $1.20. Adjusted higher expenses were primarily responsible for this earnings miss.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for T. Rowe Price depicted optimism prior to the earnings release. The Zacks Consensus Estimate increased around 1.0% over the last 7 days.
However, T. Rowe Price has a disappointing earnings surprise history. Before posting earnings miss in Q1, the company delivered positive surprises in two out of the prior four quarters. Overall, the company missed the Zacks Consensus Estimate by an average of 0.54% in the trailing four quarters.
T. Rowe Price posted revenues of $1.11 billion, beating the Zacks Consensus Estimate of $1.10 billion. Revenues compared favorably with the year-ago number of $994.1 million as well.
Key Stats to Note:
Assets under management increased to $861.6 billion
Net revenues depicted 12% year-over-year growth
Investment advisory fees constituted 89% of net revenues
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for T. Rowe Price. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look unfavorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this T. Rowe Price earnings report!
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T. Rowe Price (TROW) Q1 Earnings Lag on High Costs
Have you been eager to see how T. Rowe Price Group, Inc. (TROW - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this MD-based popular asset management firm’s earnings release this morning:
An Earnings Miss
T. Rowe Price came out with adjusted earnings per share of $1.18, lagging the Zacks Consensus Estimate of $1.20. Adjusted higher expenses were primarily responsible for this earnings miss.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for T. Rowe Price depicted optimism prior to the earnings release. The Zacks Consensus Estimate increased around 1.0% over the last 7 days.
However, T. Rowe Price has a disappointing earnings surprise history. Before posting earnings miss in Q1, the company delivered positive surprises in two out of the prior four quarters. Overall, the company missed the Zacks Consensus Estimate by an average of 0.54% in the trailing four quarters.
T. Rowe Price Group, Inc. Price and EPS Surprise
T. Rowe Price Group, Inc. Price and EPS Surprise | T. Rowe Price Group, Inc. Quote
Revenue Came Higher Than Expected
T. Rowe Price posted revenues of $1.11 billion, beating the Zacks Consensus Estimate of $1.10 billion. Revenues compared favorably with the year-ago number of $994.1 million as well.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for T. Rowe Price. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look unfavorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this T. Rowe Price earnings report!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere
1 billion iPhones in 10 years but a new breakthrough is expected to generate more
than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging
phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may
kick yourself in 2020.
Click here for the 6 trades >>