T. Rowe Price (TROW) reports Q3: everything you need to know ahead of earnings

Investment management firm T. Rowe Price (NASDAQ:TROW) will be announcing earnings results this Thursday morning. Here’s what to expect.

T. Rowe Price missed analysts’ revenue expectations last quarter, reporting revenues of $1.91 billion, up 8.6% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates.

Is T. Rowe Price a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting T. Rowe Price’s revenue to grow 3.7% year on year, slowing from the 5% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.

Looking at T. Rowe Price’s peers in the asset management segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Artisan Partners delivered year-on-year revenue growth of 3.7%, beating analysts’ expectations by 1.4%, and Blackstone reported a revenue decline of 2.3%, topping estimates by 1.5%. Blackstone traded up 7.7% following the results.

Read our full analysis of Artisan Partners’s results here and Blackstone’s results here.

Investors in the asset management segment have had steady hands going into earnings, with share prices flat over the last month. T. Rowe Price’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $106.08 (compared to the current share price of $103.87).

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