Analysts expect that Invesco Ltd. (NYSE:IVZ) will announce $1.24 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Invesco’s earnings, with estimates ranging from $1.19 billion to $1.27 billion. Invesco reported sales of $1.36 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 8.8%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, April 25th.
On average, analysts expect that Invesco will report full-year sales of $5.77 billion for the current financial year, with estimates ranging from $5.46 billion to $5.99 billion. For the next financial year, analysts expect that the company will post sales of $6.57 billion, with estimates ranging from $6.06 billion to $6.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Invesco.
Invesco (NYSE:IVZ) last announced its earnings results on Wednesday, January 30th. The asset manager reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.10). Invesco had a return on equity of 10.96% and a net margin of 16.61%. The firm had revenue of $919.20 million for the quarter, compared to the consensus estimate of $913.37 million. During the same period in the prior year, the business earned $0.73 EPS. Invesco’s quarterly revenue was down 8.5% on a year-over-year basis.
A number of research firms have commented on IVZ. Edward Jones cut shares of Invesco from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Wells Fargo & Co lifted their price objective on shares of Invesco from $19.00 to $21.00 and gave the company a “market perform” rating in a report on Tuesday, March 19th. Zacks Investment Research upgraded shares of Invesco from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Wednesday, April 10th. Barclays cut shares of Invesco from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a report on Thursday, January 31st. Finally, Credit Suisse Group reiterated a “hold” rating on shares of Invesco in a report on Thursday, January 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Invesco has a consensus rating of “Hold” and an average target price of $22.20.
In other news, major shareholder Ltd. Invesco bought 425,531 shares of the firm’s stock in a transaction on Friday, February 8th. The shares were bought at an average price of $2.64 per share, for a total transaction of $1,123,401.84. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rod Canion bought 20,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were purchased at an average price of $18.89 per share, for a total transaction of $377,800.00. Following the purchase, the director now owns 84,451 shares in the company, valued at approximately $1,595,279.39. The disclosure for this purchase can be found here. In the last three months, insiders purchased 455,531 shares of company stock worth $1,680,902. 1.90% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in IVZ. Lake Point Wealth Management purchased a new stake in shares of Invesco during the fourth quarter valued at $106,000. American International Group Inc. increased its stake in shares of Invesco by 4.6% in the 4th quarter. American International Group Inc. now owns 181,640 shares of the asset manager’s stock worth $3,041,000 after acquiring an additional 7,959 shares during the last quarter. FMR LLC increased its stake in shares of Invesco by 4.8% in the 4th quarter. FMR LLC now owns 4,214,932 shares of the asset manager’s stock worth $70,558,000 after acquiring an additional 191,922 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Invesco by 87.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 84,771 shares of the asset manager’s stock worth $1,419,000 after acquiring an additional 39,648 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Invesco by 10.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 11,058,312 shares of the asset manager’s stock worth $253,013,000 after acquiring an additional 1,001,343 shares during the last quarter. Hedge funds and other institutional investors own 81.56% of the company’s stock.
NYSE IVZ traded up $0.07 during mid-day trading on Friday, reaching $21.60. 36,556 shares of the stock were exchanged, compared to its average volume of 4,025,826. Invesco has a one year low of $15.38 and a one year high of $31.53. The company has a market capitalization of $8.55 billion, a PE ratio of 8.88, a P/E/G ratio of 1.07 and a beta of 1.53. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.85.
Invesco Company Profile
Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.
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