In This Article:
T. Rowe Price (TROW) shares soared 12.3% in the last trading session to close at $90.16. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.7% loss over the past four weeks.
T. Rowe Price Group witnessed a significant stock price increase following President Donald Trump's announcement of a 90-day suspension of reciprocal tariffs for most trading partners, excluding China. The tariff pause lessened investor concerns about mounting trade tensions, leading to a broad market rally. T. Rowe Price's substantial gain reflects its sensitivity to market conditions and investor sentiment, benefiting from the better outlook following the tariff suspension.
This financial services firm is expected to post quarterly earnings of $2.10 per share in its upcoming report, which represents a year-over-year change of -11.8%. Revenues are expected to be $1.8 billion, up 2.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For T. Rowe, the consensus EPS estimate for the quarter has been revised 7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TROW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
T. Rowe is part of the Zacks Financial - Investment Management industry. Apollo Global Management Inc. (APO), another stock in the same industry, closed the last trading session 16.3% higher at $128.45. APO has returned -15.3% in the past month.
For Apollo Global Management , the consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $1.93. This represents a change of +12.2% from what the company reported a year ago. Apollo Global Management currently has a Zacks Rank of #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
T. Rowe Price Group, Inc. (TROW) : Free Stock Analysis Report
Apollo Global Management Inc. (APO) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).