T. Rowe Price Group Inc. (TROW) shares are trading at higher $144.65 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $144.93.
To add more color to this target, the company’s high over the last year is $145.13 and the low is $82.51. Over the last 52 weeks, TROW is up 29.87% while the S&P 500 is up 16.41%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, TROW reported a profit of $553.7 million. T. Rowe Price Group Inc. also saw revenues increase to $1.42 billion. In addition, TROW has free cash flow of $1.54 billion as of 06-2020. The company’s EBITDA came in at $601.9 million which compares well with its peers.
TROW booked profit margins of 34.30%, its Return on Equity (ROE) is 29.20%, and its Return on Assets is 21.50%. All told, it is clear that, TROW needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. TROW has a short ratio of 5.34 and outstanding shares of 227.40M.
TROW has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.99 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 8.43. Investors should also keep an eye on sector updates as TROW has historically followed its peers on positive news.
All told, T. Rowe Price Group Inc. TROW has strung together solid data and demonstrated underlying fundamentals. At its current valuation, TROW represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
T. Rowe Price Group Inc. TROW is now commanding a market cap of 32.51B and a float of 223.13M. TROW is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of TROW stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in TROW, either long or short, and we have not been compensated for this article.