Can T. Rowe (TROW) Run Higher on Strong Earnings Estimate Revisions?

T. Rowe Price Group, Inc. TROW is a global investment management organization that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on TROW’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that T. Rowe could be a solid choice for investors.

Current Quarter Estimates for TROW

In the past 30 days, five estimates have gone higher for T. Rowe while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.75 a share 30 days ago, to $2.01 today, a move of 14.9%.

Current Year Estimates for TROW

Meanwhile, T. Rowe’s current year figures are also looking quite promising, with five estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $7.32 per share 30 days ago to $7.69 per share today, an increase of 5.1%.

T. Rowe Price Group, Inc. Price and Consensus

T. Rowe Price Group, Inc. Price and Consensus

T. Rowe Price Group, Inc. price-consensus-chart | T. Rowe Price Group, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 6.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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