Analysts Anticipate Invesco PLC (IVZ) to Post $0.69 Earnings Per Share
Brokerages forecast that Invesco PLC (NYSE:IVZ) will announce earnings per share of $0.69 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Invesco’s earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.66. Invesco reported earnings per share of $0.59 in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.9%. The company is expected to announce its next quarterly earnings results on Thursday, January 25th.
On average, analysts expect that Invesco will report full year earnings of $2.66 per share for the current financial year, with EPS estimates ranging from $2.63 to $2.67. For the next fiscal year, analysts expect that the firm will post earnings of $2.90 per share, with EPS estimates ranging from $2.78 to $3.07. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Invesco.
Invesco (NYSE:IVZ) last announced its earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Invesco had a return on equity of 13.02% and a net margin of 18.99%. The business had revenue of $976.60 million for the quarter, compared to analysts’ expectations of $940.96 million. During the same quarter last year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis.
IVZ has been the subject of several analyst reports. Jefferies Group set a $41.00 price objective on Invesco and gave the company a “buy” rating in a report on Thursday, August 17th. BidaskClub lowered Invesco from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. ValuEngine lowered Invesco from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Barclays initiated coverage on Invesco in a report on Friday, September 8th. They set an “overweight” rating and a $38.00 price objective for the company. Finally, Goldman Sachs Group lowered Invesco from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $36.00 in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Invesco currently has a consensus rating of “Hold” and an average price target of $38.50.
In related news, insider Colin Meadows sold 54,215 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $36.01, for a total value of $1,952,282.15. Following the completion of the transaction, the insider now owns 164,420 shares in the company, valued at approximately $5,920,764.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Invesco by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 41,189,076 shares of the asset manager’s stock valued at $1,449,444,000 after acquiring an additional 1,092,898 shares during the period. Capital International Investors grew its position in shares of Invesco by 9.2% during the 3rd quarter. Capital International Investors now owns 13,917,400 shares of the asset manager’s stock valued at $487,666,000 after acquiring an additional 1,169,200 shares during the period. JPMorgan Chase & Co. grew its position in shares of Invesco by 4.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,517,149 shares of the asset manager’s stock valued at $394,807,000 after acquiring an additional 538,969 shares during the period. American Century Companies Inc. grew its position in shares of Invesco by 6.3% during the 3rd quarter. American Century Companies Inc. now owns 9,478,671 shares of the asset manager’s stock valued at $332,133,000 after acquiring an additional 563,407 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Invesco by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 9,374,021 shares of the asset manager’s stock valued at $328,466,000 after acquiring an additional 88,330 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.
Shares of Invesco (NYSE:IVZ) traded up $0.67 on Monday, hitting $36.88. The stock had a trading volume of 2,979,380 shares, compared to its average volume of 2,725,962. Invesco has a 12-month low of $28.75 and a 12-month high of $37.75. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market cap of $14,740.29, a price-to-earnings ratio of 14.20, a PEG ratio of 1.14 and a beta of 1.81.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Tuesday, November 14th will be paid a $0.29 dividend. The ex-dividend date is Monday, November 13th. This represents a $1.16 dividend on an annualized basis and a yield of 3.15%. Invesco’s dividend payout ratio (DPR) is 50.44%.
Invesco Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Invesco PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.