Ticonderoga Maintains a 'Neutral' on T. Rowe Price (TROW); Slight Miss on Earnings
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Price: $110.56 -0.66%
Rating Summary:
3 Buy, 15 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 15 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Ticonderoga maintains a 'Neutral' on T. Rowe Price (NASDAQ: TROW).
Ticonderoga analyst says, "TROW reported EPS of $0.72, below our $0.75 estimate. The miss is a function of slightly lower revenue and slightly higher costs. Net revenues were $682 million, below our $689 million estimate. This is a shorter quarter for days, and that likely played more of a role than we were modeling."
"We are lowering our 2011 and 2012 estimates marginally to reflect for the miss and marginally higher taxes. Our full-year EPS estimates are now $3.09 and $3.37, respectively, compared with $3.12 and 3.38 previously. Flow dynamic looks pretty healthy, and positive life cycle is a good read-through for overall better retail tone. However, a Neutral rating still feels appropriate as shares are trading at a ~30% premium."
For more ratings news on T. Rowe Price click here and for the rating history of T. Rowe Price click here.
Shares of T. Rowe Price closed at $66.37 yesterday.
Ticonderoga analyst says, "TROW reported EPS of $0.72, below our $0.75 estimate. The miss is a function of slightly lower revenue and slightly higher costs. Net revenues were $682 million, below our $689 million estimate. This is a shorter quarter for days, and that likely played more of a role than we were modeling."
"We are lowering our 2011 and 2012 estimates marginally to reflect for the miss and marginally higher taxes. Our full-year EPS estimates are now $3.09 and $3.37, respectively, compared with $3.12 and 3.38 previously. Flow dynamic looks pretty healthy, and positive life cycle is a good read-through for overall better retail tone. However, a Neutral rating still feels appropriate as shares are trading at a ~30% premium."
For more ratings news on T. Rowe Price click here and for the rating history of T. Rowe Price click here.
Shares of T. Rowe Price closed at $66.37 yesterday.
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