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Should You Buy #1 (Strong Buy)-Ranked T. Rowe Price (TROW) for Your Portfolio?

T. Rowe Price was upgraded to the Zacks Rank #1 list on March 7, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

Founded in 1937 and headquartered in Baltimore, T. Rowe Price Group, Inc. is a global investment management organization that provides a broad array of mutual funds, sub-advisory services and separate account management for individual and institutional investors, retirement plans and financial intermediaries. Through its subsidiaries, the company manages separate client-focused equity, fixed income and balanced portfolios along with mutual funds. Its client base includes individual investors, defined contribution retirement plans, institutional investors and third-party distributors, among others. The company operates worldwide from the United States, England, Luxembourg, Australia, Hong Kong, Japan and Singapore.

Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.94 to $7.75 per share. TROW boasts an average earnings surprise of 13.3%.

Analysts are expecting earnings to grow 2.1% for the current fiscal year, with revenue forecasted to rise 4.9%.

Additionally, TROW has climbed higher over the past four weeks, gaining 6.6%. The S&P 500 is up 3.2% in comparison.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, T. Rowe Price could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.

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T. Rowe Price Group, Inc. (TROW) : Free Stock Analysis Report

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