Have you been eager to see how T. Rowe Price Group, Inc. (TROW) performed in Q4 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 Beat
T. Rowe Price came out with earnings per share of $1.18, beating the Zacks Consensus Estimate of $1.13. Strong top line and higher assets under management (AUM) were the positives for the quarter.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for T. Rowe Price depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained stable over the last 7 days.
Also, T. Rowe Price has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in two out of the prior three quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.79% in the trailing four quarters.
Revenue Came In Higher Than Expected
T. Rowe Price posted revenues of $1.02 billion, which marginally beat the Zacks Consensus Estimate of $1.01 billion. Moreover, it compared favorably with the year-ago number of $929.8 million.
Key Stats to Note:
-
Assets under management increased to $746.8 billion
-
Net revenues depicted 10% year-over-year growth
-
Investment advisory fees constituted 87% 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 favorable, 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!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment