Company Update (NASDAQ:TROW): T. Rowe Price Launches Three New Quantitatively Managed Stock Funds

[PR Newswire] – T. Rowe Price (TROW) has introduced three new equity funds that use a quantitative management style to select the stocks they hold. In addition, the company has renamed the T. Rowe Price Diversified Small-Cap Growth Fund as the T. Rowe Price QM U.S. Small-Cap Growth Equity Fund to better reflect its quantitative management style. Read more on this. T. Rowe Price Group, Inc. (TROW) , valued at $19.14B, started trading this morning at $77.18. Looking at today’s trading action, the company’s one day range from $76.80 to $77.85 and has traded between $63.57 and $83.50 over the past 12 months. TROW shares are currently priced at 16.76x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.91x earnings multiple. And for income investors, the company pays shareholders $2.16 per share annually in dividends, yielding 2.82%. According to a consensus of 18 analysts, the earnings estimate of $1.04 per share would be $0.09 worse than the year-ago quarter and a $0.05 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $4.57 would be a $0.06 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. More recently, BofA/Merrill downgraded TROW from Buy to Neutral (Mar 15, 2016). Previously, Bernstein downgraded TROW from Outperform to Mkt Perform. With the above information in mind, readers should note that the average price target is $76.38, which is 1.04% below where the stock opened this morning. See more in (NASDAQ:TROW) Similar Articles: Market Update (NASDAQ:TROW): T. Rowe Price Group Declares Quarterly Dividend Stock Update (NASDAQ:TROW): T. Rowe Price Settles Patent Infringement Case; Suit Dismissed With Prejudice Company Update: T. Rowe Price Group Inc (NASDAQ:TROW) – T. Rowe Price: Most Parents Say They Overspend On Kids’ Holiday Gifts