Stock Update (NASDAQ:TROW): T. Rowe Price Settles Patent Infringement Case; Suit Dismissed With Prejudice

[PR Newswire] – BALTIMORE, Feb. 9, 2016 /PRNewswire/ — NEWS T. Rowe Price (NASDAQ-GS: TROW) today announced that GRQ Investment Management voluntarily dismissed all claims it brought in the U.S. District Court for the … Read more on this. T. Rowe Price Group, Inc. (TROW) , valued at $16.50B, opened this morning at $65.20. Looking at the equity, the company’s one day range is $64.82 to $67.15 with the price of the stock fluctuating between $63.57 to $84.38 over the last 52 weeks. T. Rowe Price (TROW) shares are currently priced at 14.76x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 11.68x earnings multiple for the same period. The company pays shareholders $2.08 per share annually in dividends, yielding 3.03%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $1.04 per share, which would be $0.09 worse than the year-ago quarter and a $0.05 sequential decrease. The full-year EPS estimate is $4.47 which would be a $0.16 setback than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.02 Billion. If reported, that would be a 0.97% decrease over the year-ago quarter. Recently, Bernstein downgraded TROW from Outperform to Mkt Perform (Aug 5, 2015). Previously, Susquehanna upgraded TROW from Neutral to Positive. Given all the information above, we should disclose to readers that the average price target is $73.18, which is 12.24% above than it opened this morning. See more in (NASDAQ:TROW) Similar Articles: Company Update: T. Rowe Price Group Inc (NASDAQ:TROW) – T. Rowe Price: Most Parents Say They Overspend On Kids’ Holiday Gifts Stock Update: T. Rowe Price Group Inc (NASDAQ:TROW) – T. Rowe Price Launches Emerging Markets Value Stock Fund Market Update: T. Rowe Price Group Inc (NASDAQ:TROW) – T. Rowe Price: Kids Who Get An Allowance Are More Money Savvy Than Those Who Do Not