Investment management firm T. Rowe Price (NASDAQ: TROW) will be reporting results this Thursday before market open. Here’s what to expect.
T. Rowe Price met analysts’ revenue expectations last quarter, reporting revenues of $1.94 billion, up 5.4% year on year. It was a mixed quarter for the company, with but .
Is T. Rowe Price a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting T. Rowe Price’s revenue to grow 5.9% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. T. Rowe Price has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at T. Rowe Price’s peers in the custody bank segment, some have already reported their Q1 results, giving us a hint as to what we can expect. BNY delivered year-on-year revenue growth of 13.8%, beating analysts’ expectations by 4.3%, and Northern Trust reported revenues up 13.8%, topping estimates by 4%. BNY traded up 2.4% following the results while Northern Trust was also up 5.6%.
Read our full analysis of BNY’s results here and Northern Trust’s results here.
There has been positive sentiment among investors in the custody bank segment, with share prices up 12.8% on average over the last month. T. Rowe Price is up 12.9% during the same time and is heading into earnings with an average analyst price target of $93.83 (compared to the current share price of $100.54).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
