Wall Street brokerages predict that Invesco Ltd. (NYSE:IVZ) will announce sales of $1.36 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Invesco’s earnings, with estimates ranging from $1.35 billion to $1.37 billion. Invesco reported sales of $1.19 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.3%. The business is expected to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Invesco will report full year sales of $1.36 billion for the current fiscal year, with estimates ranging from $5.14 billion to $5.24 billion. For the next fiscal year, analysts expect that the company will post sales of $5.65 billion per share, with estimates ranging from $5.51 billion to $5.74 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Invesco.
Invesco (NYSE:IVZ) last issued its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.05. The firm had revenue of $976.60 million for the quarter, compared to analysts’ expectations of $940.96 million. Invesco had a return on equity of 13.02% and a net margin of 18.99%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS.
Several research firms have issued reports on IVZ. JPMorgan Chase & Co. set a $45.00 target price on Invesco and gave the stock a “buy” rating in a research report on Monday. Bank of America cut Invesco from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Monday. Zacks Investment Research cut Invesco from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup boosted their target price on Invesco from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, ValuEngine upgraded Invesco from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $39.79.
In related news, insider Colin Meadows sold 54,215 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 164,420 shares in the company, valued at approximately $5,920,764.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. lifted its stake in Invesco by 144.5% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 5,097,202 shares of the asset manager’s stock valued at $178,605,000 after buying an additional 3,012,871 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Invesco by 5,060.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,787,996 shares of the asset manager’s stock valued at $98,110,000 after buying an additional 2,733,970 shares in the last quarter. FMR LLC lifted its stake in Invesco by 137.5% in the 2nd quarter. FMR LLC now owns 2,959,243 shares of the asset manager’s stock valued at $104,135,000 after buying an additional 1,713,338 shares in the last quarter. Capital International Investors lifted its stake in Invesco by 9.2% in the 3rd quarter. Capital International Investors now owns 13,917,400 shares of the asset manager’s stock valued at $487,666,000 after buying an additional 1,169,200 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Invesco by 2.7% in 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 buying an additional 1,092,898 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.
Invesco (NYSE IVZ) opened at $36.84 on Tuesday. The stock has a market capitalization of $15,000.00, a PE ratio of 15.95, a P/E/G ratio of 1.06 and a beta of 1.80. Invesco has a 52-week low of $28.75 and a 52-week high of $37.85. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.50 and a quick ratio of 1.50.
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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.
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