Brokerages Anticipate Invesco Ltd. (NYSE:IVZ) Will Post Quarterly Sales of $1.52 Billion
Brokerages expect Invesco Ltd. (NYSE:IVZ) to announce sales of $1.52 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Invesco’s earnings, with the highest sales estimate coming in at $1.53 billion and the lowest estimate coming in at $1.50 billion. Invesco reported sales of $1.36 billion in the same quarter last year, which indicates a positive year over year growth rate of 11.8%. The firm is expected to report its next earnings report before the market opens on Thursday, July 25th.
On average, analysts expect that Invesco will report full-year sales of $6.31 billion for the current financial year, with estimates ranging from $6.19 billion to $6.45 billion. For the next financial year, analysts forecast that the firm will post sales of $7.09 billion, with estimates ranging from $6.86 billion to $7.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Invesco.
Invesco (NYSE:IVZ) last announced its quarterly earnings results on Thursday, April 25th. The asset manager reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. Invesco had a return on equity of 10.48% and a net margin of 15.59%. The firm had revenue of $887.10 million for the quarter, compared to analyst estimates of $884.93 million. During the same quarter last year, the firm posted $0.67 earnings per share. The business’s revenue for the quarter was down 7.4% on a year-over-year basis.
In other Invesco news, major shareholder Ltd. Invesco purchased 2,222,222 shares of Invesco stock in a transaction dated Monday, June 10th. The stock was acquired at an average cost of $4.50 per share, with a total value of $9,999,999.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rod Canion purchased 10,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $19.84 per share, with a total value of $198,400.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,252,222 shares of company stock valued at $10,619,199 over the last ninety days. 1.90% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in IVZ. Rehmann Capital Advisory Group grew its holdings in shares of Invesco by 100.0% during the first quarter. Rehmann Capital Advisory Group now owns 1,338 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 669 shares during the last quarter. Parallel Advisors LLC raised its stake in Invesco by 58.8% during the 1st quarter. Parallel Advisors LLC now owns 1,436 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 532 shares during the period. CSat Investment Advisory L.P. raised its stake in Invesco by 141.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,103 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 1,231 shares during the period. Quadrant Capital Group LLC raised its stake in Invesco by 46.2% during the 1st quarter. Quadrant Capital Group LLC now owns 2,213 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 699 shares during the period. Finally, FinTrust Capital Advisors LLC raised its stake in Invesco by 21.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,909 shares of the asset manager’s stock valued at $56,000 after purchasing an additional 519 shares during the period. 76.45% of the stock is owned by hedge funds and other institutional investors.
Shares of IVZ traded down $0.25 during mid-day trading on Monday, reaching $19.52. The company’s stock had a trading volume of 5,109,175 shares, compared to its average volume of 4,488,559. Invesco has a 12-month low of $15.38 and a 12-month high of $27.59. The firm has a market capitalization of $7.92 billion, a PE ratio of 8.03, a PEG ratio of 1.01 and a beta of 1.51. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average price is $20.38.
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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