On August 1, T. Rowe Price fell 5.56% in regular trading, trading at 112.54 USD/share, with turnover of $174 million.
On the news front, the company reported Q2 adjusted EPS of $2.57, up 14.7% year-over-year, beating the consensus estimate of $2.50-$2.51. Revenue came in at $1.91 billion, up 11% year-over-year, also exceeding the $1.89 billion estimate. Despite the double beat, BMO Capital cut its price target from $124 to $110, maintaining a Market Perform rating. The average analyst rating remains at underweight with a mean price target of $108.25, suggesting limited upside from current levels.
The bearish analyst stance reflects broader concerns about the asset management industry. Goldman Sachs maintains a Sell rating with a $94 target, while Autonomous Research holds an Underperform rating at $81. Although T. Rowe Price has demonstrated consistent earnings growth and expanded its alternative investment offerings, the prevailing sell-side consensus continues to weigh on sentiment.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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