Equities analysts expect Invesco Ltd. (NYSE:IVZ) to post $1.41 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Invesco’s earnings, with the lowest sales estimate coming in at $1.39 billion and the highest estimate coming in at $1.42 billion. Invesco posted sales of $1.25 billion during the same quarter last year, which would indicate a positive year over year growth rate of 12.8%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, July 26th.
According to Zacks, analysts expect that Invesco will report full-year sales of $5.65 billion for the current year, with estimates ranging from $5.57 billion to $5.69 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.86 billion per share, with estimates ranging from $5.67 billion to $6.03 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Invesco.
Get Invesco alerts:Invesco (NYSE:IVZ) last posted its quarterly earnings data on Thursday, April 26th. The asset manager reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $958.00 million during the quarter, compared to the consensus estimate of $979.91 million. Invesco had a net margin of 21.96% and a return on equity of 12.95%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 earnings per share.
Several research firms recently weighed in on IVZ. Zacks Investment Research downgraded shares of Invesco from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Invesco in a report on Wednesday, April 11th. Morgan Stanley reduced their price objective on shares of Invesco from $40.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday, April 10th. Barclays cut their price target on shares of Invesco from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, April 23rd. Finally, ValuEngine downgraded shares of Invesco from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.07.
In other Invesco news, major shareholder Ltd. Invesco purchased 2,127,659 shares of the business’s stock in a transaction on Tuesday, May 22nd. The stock was bought at an average cost of $4.69 per share, with a total value of $9,978,720.71. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Invesco by 10.5% during the first quarter. BlackRock Inc. now owns 34,426,896 shares of the asset manager’s stock valued at $1,102,006,000 after buying an additional 3,283,953 shares in the last quarter. American Century Companies Inc. lifted its stake in Invesco by 20.6% during the first quarter. American Century Companies Inc. now owns 11,640,548 shares of the asset manager’s stock valued at $372,614,000 after buying an additional 1,988,111 shares in the last quarter. Kiltearn Partners LLP lifted its stake in Invesco by 19.8% during the first quarter. Kiltearn Partners LLP now owns 7,127,910 shares of the asset manager’s stock valued at $224,387,000 after buying an additional 1,178,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Invesco by 18.2% during the first quarter. Dimensional Fund Advisors LP now owns 3,340,611 shares of the asset manager’s stock valued at $106,933,000 after buying an additional 513,179 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Invesco by 1.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,971,049 shares of the asset manager’s stock valued at $95,103,000 after buying an additional 40,422 shares in the last quarter. 79.79% of the stock is owned by institutional investors.
IVZ stock opened at $25.46 on Wednesday. The stock has a market capitalization of $10.43 billion, a P/E ratio of 9.45, a P/E/G ratio of 0.99 and a beta of 1.66. Invesco has a fifty-two week low of $25.34 and a fifty-two week high of $38.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.54 and a quick ratio of 1.54.
About Invesco
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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