Company Update (NASDAQ:TROW): T. Rowe Price Hires Naoyuki Honda as Country Head for Japan

[Business Wire] – TOKYO–(BUSINESSWIRE)– T. Rowe Price today announced that Naoyuki Honda will join the firm in early May to officially become Country Head for Japan after a filing with Japanese regulators. In this important role, Mr. Honda, a veteran of three decades in the financial services and asset management industries, will act as the firm’s official Representative in Japan and lead its overall Japanese business and distribution strategy, working closely with senior colleagues in Tokyo and across the firm. Mr. Honda will lead T. Rowe Price’s business in Japan, including sales and client service functions. Read more on this. T. Rowe Price Group, Inc. (TROW) , valued at $18.30B, began trading this morning at $72.34. Looking at today’s trading action, the company’s one day range from $71.84 to $74.05 with a trailing 52-week range being $63.57 to $83.52. TROW shares are currently priced at 16.47x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.63x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.16 per share annually in dividends, yielding 2.98%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $1.03 per share, which would be $0.10 worse than the year-ago quarter and a $0.08 sequential decrease. Investors should also note that the full-year EPS estimate of $4.42 is a $0.21 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.01 Billion. If reported, that would be a 1.94% decrease over the year-ago quarter. Recently, BofA/Merrill downgraded TROW from Buy to Neutral (Mar 15, 2016). Previously, Bernstein downgraded TROW from Outperform to Mkt Perform. The average price target for TROW shares by the analysts covering it is $73.44, which is 1.52% above where the stock opened. See more in (NASDAQ:TROW) Similar Articles: Market Update (NASDAQ:TROW): T. Rowe Price Group Declares Quarterly Dividend Company Update: T. Rowe Price Group Inc (NASDAQ:TROW) – T. Rowe Price: Most Parents Say They Overspend On Kids’ Holiday Gifts Company Update (NASDAQ:TROW): T. Rowe Price Group Reports Third Quarter 2015 Results