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T. Rowe (TROW) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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T. Rowe Price (TROW - Free Report) reported $1.75 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 13.8%. EPS of $2.38 for the same period compares to $1.69 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.71 billion, representing a surprise of +2.39%. The company delivered an EPS surprise of +18.41%, with the consensus EPS estimate being $2.01.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how T. Rowe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Assets Under Management (EOP) - Equity: $770.4 billion versus $752.55 billion estimated by three analysts on average.
Assets Under Management (EOP) - Multi-asset: $497 billion versus $490.87 billion estimated by three analysts on average.
Net cash inflows - Total: $-8 billion versus the three-analyst average estimate of $-5.21 billion.
Assets Under Management - Total: $1,484.4 billion versus the three-analyst average estimate of $1,458.41 billion.
Assets Under Management (EOP) - Fixed income, including money market: $169.5 billion versus the three-analyst average estimate of $174.67 billion.
Net revenues- Capital allocation-based income: $47.10 million versus the four-analyst average estimate of $47.01 million. The reported number represents a year-over-year change of +178.7%.
Net revenues- Administrative, distribution and servicing fees: $149.10 million versus $150.18 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +15.7% change.
Net revenues- Investment Advisory Fees- Alternatives: $74.10 million versus $76.83 million estimated by three analysts on average.
Net revenues- Investment Advisory Fees- Fixed income, including money market: $100.60 million versus $99.18 million estimated by three analysts on average.
Net revenues- Investment Advisory Fees- Multi-asset: $429.70 million versus the three-analyst average estimate of $416.47 million.
Net revenues- Investment advisory fees: $1.55 billion compared to the $1.49 billion average estimate based on three analysts. The reported number represents a change of +11.7% year over year.
Net revenues- Investment Advisory Fees- Equity: $949.60 million versus $890.22 million estimated by three analysts on average.
Shares of T. Rowe have returned -10.7% over the past month versus the Zacks S&P 500 composite's -3.2% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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T. Rowe (TROW) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
T. Rowe Price (TROW - Free Report) reported $1.75 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 13.8%. EPS of $2.38 for the same period compares to $1.69 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.71 billion, representing a surprise of +2.39%. The company delivered an EPS surprise of +18.41%, with the consensus EPS estimate being $2.01.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how T. Rowe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Assets Under Management (EOP) - Equity: $770.4 billion versus $752.55 billion estimated by three analysts on average.
- Assets Under Management (EOP) - Multi-asset: $497 billion versus $490.87 billion estimated by three analysts on average.
- Net cash inflows - Total: $-8 billion versus the three-analyst average estimate of $-5.21 billion.
- Assets Under Management - Total: $1,484.4 billion versus the three-analyst average estimate of $1,458.41 billion.
- Assets Under Management (EOP) - Fixed income, including money market: $169.5 billion versus the three-analyst average estimate of $174.67 billion.
- Net revenues- Capital allocation-based income: $47.10 million versus the four-analyst average estimate of $47.01 million. The reported number represents a year-over-year change of +178.7%.
- Net revenues- Administrative, distribution and servicing fees: $149.10 million versus $150.18 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +15.7% change.
- Net revenues- Investment Advisory Fees- Alternatives: $74.10 million versus $76.83 million estimated by three analysts on average.
- Net revenues- Investment Advisory Fees- Fixed income, including money market: $100.60 million versus $99.18 million estimated by three analysts on average.
- Net revenues- Investment Advisory Fees- Multi-asset: $429.70 million versus the three-analyst average estimate of $416.47 million.
- Net revenues- Investment advisory fees: $1.55 billion compared to the $1.49 billion average estimate based on three analysts. The reported number represents a change of +11.7% year over year.
- Net revenues- Investment Advisory Fees- Equity: $949.60 million versus $890.22 million estimated by three analysts on average.
View all Key Company Metrics for T. Rowe here>>>Shares of T. Rowe have returned -10.7% over the past month versus the Zacks S&P 500 composite's -3.2% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.