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T. Rowe Price (TROW) closed the most recent trading day at $120.51, moving -0.81% from the previous trading session. This change lagged the S&P 500's 0.3% loss on the day. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 0.11%.
Prior to today's trading, shares of the financial services firm had lost 6.46% over the past month. This has lagged the Finance sector's loss of 3.72% and the S&P 500's loss of 0.62% in that time.
Investors will be hoping for strength from T. Rowe Price as it approaches its next earnings release, which 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.
Any recent changes to analyst estimates for T. Rowe Price should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. T. Rowe Price is currently a Zacks Rank #5 (Strong Sell).
Digging into valuation, T. Rowe Price currently has a Forward P/E ratio of 11.62. This valuation marks a premium compared to its industry's average Forward P/E of 9.19.
It is also worth noting that TROW currently has a PEG ratio of 1.96. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Investment Management industry currently had an average PEG ratio of 1.15 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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T. Rowe Price Group, Inc. (TROW) : Free Stock Analysis Report
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