T. Rowe Price Group (NAS: TROW) reported earnings on April 24. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), T. Rowe Price Group beat expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share grew.
Margins dropped across the board.
T. Rowe Price Group booked revenue of $728.7 million. The nine analysts polled by S&P Capital IQ looked for revenue of $706.7 million on the same basis. GAAP reported sales were 6.8% higher than the prior-year quarter's $682.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.75. The 19 earnings estimates compiled by S&P Capital IQ forecast $0.76 per share. GAAP EPS of $0.75 for Q1 were 4.2% higher than the prior-year quarter's $0.72 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 61.2%, 130 basis points worse than the prior-year quarter. Operating margin was 43.4%, 220 basis points worse than the prior-year quarter. Net margin was 27.1%, 140 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $766.3 million. On the bottom line, the average EPS estimate is $0.83.
Next year's average estimate for revenue is $3.07 billion. The average EPS estimate is $3.33.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 373 members out of 397 rating the stock outperform, and 24 members rating it underperform. Among 109 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 103 give T. Rowe Price Group a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on T. Rowe Price Group is hold, with an average price target of $62.18.
Can your retirement portfolio provide you with enough income to last? You'll need more than T. Rowe Price Group. Learn about crafting a smarter retirement plan in "The Shocking Can't-Miss Truth About Your Retirement." Click here for instant access to this free report.
Add T. Rowe Price Group to My Watchlist.
At the time thisarticle was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.