Company Update (NASDAQ:TROW): T. Rowe Price Midyear 2016 Market Outlook: Modest Revenue And Earnings Growth Expected Globally; U.S. Recession Unlikely This Year

[PR Newswire] – The first half of 2016 has been volatile, with the global economy facing several challenges that unsettled financial markets around the world. Abrupt swings in sentiment created a difficult environment for buy-and-hold investors, and markets were tested by slow global growth, the potential for rising inflation and interest rates in the U.S., and lingering concerns about China. Signs of financial and economic stabilization in both developed and emerging markets appear to have set the stage for an improved global equity climate in the second half of 2016. Read more on this. T. Rowe Price Group, Inc. (TROW) , valued at $17.59B, started the session at $71.45. Looking at the equity, the company’s one day range is $70.82 to $71.79 with the price of the stock fluctuating between $63.57 to $79.96 over the last 52 weeks. TROW shares are currently priced at 15.73x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -55.52x earnings multiple. And for passive income investors, the company pays shareholders $2.16 per share annually in dividends, yielding 2.97%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $1.07 per share, which would be $0.17 worse than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $4.56, which would be a $0.07 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.04 Billion. If reported, that would be a 2.80% 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 is $78.79, which is 10.27% above where the stock opened this morning. See more in (NASDAQ:TROW) Similar Articles: Company Update (NASDAQ:TROW): T. Rowe Price Group Declares Quarterly Dividend Company Update (NASDAQ:TROW): T. Rowe Price Launches Three New Quantitatively Managed Stock Funds Market Update (NASDAQ:TROW): T. Rowe Price Group Declares Quarterly Dividend