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Recap: T. Rowe Price Group Q1 Earnings

Benzinga Insights

Shares of T. Rowe Price Group (NASDAQ:TROW) rose 7% after the company reported Q1 results.

Quarterly Results

Earnings per share increased 0.00% over the past year to $1.87, which beat the estimate of $1.79.

Revenue of $1,463,000,000 rose by 10.25% year over year, which beat the estimate of $1,430,000,000.

Outlook

T. Rowe Price Group hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Apr 28, 2020

View more earnings on TROW

Time: 10:00 AM ET

Webcast URL: https://troweprice.gcs-web.com/events

Recent Stock Performance

52-week high: $139.81

Company's 52-week low was at $82.51

Price action over last quarter: down 16.76%

Company Profile

T. Rowe Price provides asset-management services for individual and institutional investors. It offers a broad range of no-load U.S. and international stock, hybrid, bond, and money market funds. At the end of March 2020, the firm had $1.009 trillion in managed assets, composed of equity (55%), balanced (31%) and fixed-income (14%) offerings. Approximately two thirds of the company's managed assets are held in retirement-based accounts, which provides T. Rowe Price with a somewhat stickier client base than most of its peers. The firm also manages private accounts, provides retirement planning advice, and offers discount brokerage and trust services. The company is primarily a U.S.-based asset manager, deriving just 7% of its AUM from overseas.

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