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By Donald Saltz | November 15, 1991
The price-earnings ratio is one of the most simple, yet most valuable, tools available to the stock market investor. It compares earnings per share to the selling price and is a genuine guide to the fairness of that price. However, the P-E ratio can also be very misleading.The stock market trades on expectations. This is why the market has been strong during our current recession, with a lot of analysts believing the recession will soon end and corporate earnings will benefit a great deal from the recovery.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 24, 2013
T. Rowe Price Group reported a 20 percent increase in earnings for the second quarter Wednesday, but a decline in assets under management when investors withdrew money contributed to a sharp sell-off of the company's stock. The Baltimore-based money manager said it earned $247.8 million in the April-to-June quarter, about 20 percent higher than the $206.8 million it earned a year ago. On a per-share basis, Price earned 92 cents for the quarter, three cents less than analysts expected, but more than its 79 cents profit a year earlier.
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BUSINESS
By Julius Westheimer | April 24, 1998
HISTORY SHOWS that the stock market is becoming increasingly expensive. The price-earnings (P/E) ratio since 1980 averaged 15.7 times earnings, whereas today the P/E registers 23.6 times earnings.The S&P 500 dividend yield since 1980 averaged 3.55 percent, but has dwindled to only 1.53 percent.NO FREE LUNCH: "Nothing comes free. When shopping for mutual funds, find out what management charges," says Black Enterprise magazine, in its May issue. The article adds, "Read the fund's prospectus, or Morningstar fund manuals carefully and remember that all funds charge fees -- including so-called no-load funds."
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 22, 2013
The top executives of T. Rowe Price Group Inc. saw their compensation rise last year, the Baltimore-based investment firm reported. CEO James A.C. Kennedy earned $8.4 million in total compensation last year, a 7 percent increase over 2011 and Brian C. Rogers, Price's chairman and chief investment officer, earned $8.3 million in total compensation, an 8 percent increase from 2011, the company reported in a recent filing with the U.S. Securities and...
BUSINESS
By Laura Pavlenko Lutton and Laura Pavlenko Lutton,MORNINGSTAR.com | April 16, 2000
Great photographers know that some of the most memorable shots aren't taken straight on, but from a new, unexpected angle. Photos that show the swarms of media at a news conference -- not the subject speaking -- can put an event into context, while a shot of a fan at a sporting event sometimes tells the story just as well as a standard photo of the star athlete. Investors should think about photographic angles when they are determining whether a stock is fairly priced. The straight-on shot -- the price-earnings ratio -- can give one perspective, but zooming in a different way can be helpful, too. Take the price-sales ratio.
BUSINESS
By Donald Saltz | May 15, 1992
Last week, this column noted that a financial adviser offered the opinion that shares of Bethesda-based Washington Real Estate Investment Trust (Writ) were overpriced and should be sold, a remark that triggered some selling in the stock and lowered the price from above $25 a share to $22.Not long afterward, Writ released a solid first-quarter earnings report showing a 19 percent increase in profits and a gain of 16 percent in cash flow, along with strong overall occupancy of 94 percent as well as the near-elimination of all mortgage debt.
BUSINESS
By Donald Saltz | June 26, 1992
To millions of American voters, Ross Perot is an achiever who represents their best hope for a change in the way the federal government works. To the stock market, however, he represents uncertainty, and that's the principal reason stock prices will, at best, probably drift for months to come. Should Perot remain strong among the electorate, stock prices stand a good chance of declining over coming months, and into next year if he wins the election.Uncertainty is a major nemesis for stock prices, even more devastating than a recession and weaker corporate earnings.
BUSINESS
By Julius Westheimer | April 25, 1991
Rising for the second straight day, the Dow Jones average gained 19 points yesterday. When Wall Street opened today, the DJ index stood at 2,949.50, up 584 points since October's low. At today's level, Dow stocks sell, on the average, at 18 times the last 52-weeks' earnings, versus a 12 price-earnings ratio one year ago this week.LOOKING AHEAD: "While there are good reasons to believe that the market is getting frothy, it still appears that stocks are headed higher." (Telephone Switch Newsletter)
BUSINESS
By Julius Westheimer | March 14, 1991
Reversing direction after four "down" days, the Dow Jones average gained 32.68 points yesterday, advancing on hopes of lower interest rates. The DJ indicator opened today at 2,955.20, up 590 points (25 percent) from last October's low.NAMES & FACES: In the first staff addition in its history, The Rothschild Co., whose investment performance has far outpaced the S&P 500-stock average since 1973 inception, just added Joseph Klein III and Gregory Watson as senior investment executives. The firm handles 400 accounts with $800 million under management . . . Legg Mason will send its 52-page, jampacked March Institutional Monthly if you call or write.
BUSINESS
By Donald Saltz | July 24, 1992
When Ross Perot was an apparent presidential candidate, the direction of the stock market was especially uncertain, which translated to, at best, a drift in the market.With Mr. Perot out and Bill Clinton riding high in the polls, the market will continue to drift, or decline, because Mr. Clinton is viewed as less favorable to business than is President Bush.It is unlikely that stock prices will do anything meaningful until the general election in November, unless President Bush grabs a lead before the election.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 26, 2011
T. Rowe Price Group, the Baltimore-based mutual fund and investment advisory company, reported Tuesday a profit of $204.7 million for the second quarter, a 29 percent increase over the corresponding period a year ago. On a per-share basis, Price earned 76 cents, up from 59 cents a year earlier. The quarterly earnings are a penny off analysts' expectation of 77 cents per share, according to Bloomberg. Revenue for the quarter reached $713.7 million, up from $577.4 million for the second quarter a year ago. The company said that despite "choppy markets," money coming in from new clients pushed Price's assets under management to a record high.
BUSINESS
By Laura Smitherman and Laura Smitherman,Sun reporter | July 26, 2007
T. Rowe Price Group Inc. reported yesterday that its second-quarter profit rose 20 percent as the Baltimore mutual fund company continued to attract investment dollars from clients. The company had net income of $162 million, or 58 cents a share, up from $136 million, or 49 cents a share, a year earlier and matching the consensus estimate from Wall Street analysts polled by Thomson Financial. It also notched a new record in assets under management, which rose 8.5 percent during the quarter to $380 billion, the result of a surging stock market and clients adding $8 billion.
BUSINESS
By Laura Smitherman and Laura Smitherman,Sun reporter | April 26, 2007
T. Rowe Price Group Inc. reported yesterday that first-quarter earnings rose 22 percent as investors piled more money into the Baltimore investment company's mutual funds, particularly its lineup of retirement funds. Price's net income increased to $143 million, or 51 cents a share, from $117 million, or 42 cents a share, a year ago. The results fell 2 cents short of Wall Street expectations, according to a survey of analysts by Thomson Financial. The company does not give earnings guidance to analysts, as many firms do. Total assets under management reached a record $350 billion, up $15.2 billion during the quarter.
BUSINESS
By Elizabeth Douglass and Elizabeth Douglass,Los Angeles Times | October 27, 2006
Cashing in on higher prices and production, oil giant Exxon Mobil Corp. surprised Wall Street yesterday with a third-quarter profit of $10.49 billion, putting it on pace to smash earnings records for the full year. Exxon's earnings were the second-highest ever recorded by a publicly traded company - behind its $10.71 billion profit in last year's final quarter - and helped reawaken the public outrage that came with this summer's record-high pump prices. Another big oil company, Royal Dutch Shell also announced earnings yesterday that were well above expectations.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 20, 2001
T. Rowe Price Group Inc. reported yesterday that third-quarter profit fell 27 percent as assets under management slid, and the company said it will look to cut more costs, including laying off employees. "We will basically look at everything," said George A. Roche, chairman and president of the Baltimore-based mutual fund company. "You look across the board to control your expenses. You look at all of your personnel costs." Price's problems, like those at most mutual fund companies, stem from a weakened stock market that was sorely jolted by the Sept.
BUSINESS
By WERNER RENBERG | January 10, 1993
Many of those who market small company stock funds take it on faith that, since seven fat years from fall 1976 to summer 1983 were followed by seven lean years, we're now in another fat period for small company stocks that has four or five years to go.They would also have you believe that the behavior of small company stocks is predictably cyclical -- in that they alternatively lead and lag large company stocks -- even if it's not quite guaranteed.Therefore,...
BUSINESS
By Donald Saltz | April 10, 1992
The stock market has been selling off sharply. Even on some days when the most-watched indicator -- the Dow Jones industrial average -- has gained, more stocks were down than were up. Weakness in prices can be attributed to uncertainty about the recession and our nation's economy and, hence, corporate profits, as well as a malaise among investors and the public.Despite this, investors should always keep close tabs on the stocks they like and might want to buy later, if not now. A lot of stocks are worthy buys right now for the longer term; the problem is that these stocks might decline further because of the economy's sluggishness and the trend of the market.
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