Wall Street analysts forecast that Invesco Ltd. (NYSE:IVZ) will post $1.38 billion in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Invesco’s earnings, with the lowest sales estimate coming in at $1.37 billion and the highest estimate coming in at $1.38 billion. Invesco reported sales of $1.19 billion in the same quarter last year, which would suggest a positive year over year growth rate of 16%. The business is expected to report its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Invesco will report full-year sales of $1.38 billion for the current financial year, with estimates ranging from $5.75 billion to $5.83 billion. For the next financial year, analysts expect that the business will post sales of $6.10 billion per share, with estimates ranging from $5.93 billion to $6.18 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Invesco.
Invesco (NYSE:IVZ) last issued its quarterly earnings data on Wednesday, January 31st. The asset manager reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Invesco had a net margin of 21.85% and a return on equity of 13.51%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $982.86 million. During the same quarter last year, the company earned $0.59 earnings per share. Invesco’s revenue for the quarter was up 16.3% on a year-over-year basis.
Several analysts have issued reports on the stock. Deutsche Bank raised shares of Invesco from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research raised shares of Invesco from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Friday. Morgan Stanley reissued an “equal weight” rating and set a $40.00 price target (up previously from $39.00) on shares of Invesco in a research report on Wednesday, February 7th. Credit Suisse Group reissued a “buy” rating on shares of Invesco in a research report on Thursday, February 1st. Finally, Citigroup raised their price target on shares of Invesco from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Invesco currently has a consensus rating of “Buy” and an average target price of $40.21.
Hedge funds have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. lifted its stake in Invesco by 144.5% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 5,097,202 shares of the asset manager’s stock worth $178,605,000 after purchasing an additional 3,012,871 shares during the last quarter. Capital International Investors lifted its stake in Invesco by 9.2% during the third quarter. Capital International Investors now owns 13,917,400 shares of the asset manager’s stock worth $487,666,000 after purchasing an additional 1,169,200 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Invesco by 19.2% during the third quarter. Ameriprise Financial Inc. now owns 4,997,691 shares of the asset manager’s stock worth $175,007,000 after purchasing an additional 804,250 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Invesco by 5,742.9% during the third quarter. Asset Management One Co. Ltd. now owns 584,819 shares of the asset manager’s stock worth $20,492,000 after purchasing an additional 574,810 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Invesco by 6.3% during the third quarter. American Century Companies Inc. now owns 9,478,671 shares of the asset manager’s stock worth $332,133,000 after purchasing an additional 563,407 shares during the last quarter. 80.36% of the stock is owned by institutional investors and hedge funds.
Shares of Invesco (IVZ) opened at $32.52 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.50 and a quick ratio of 1.50. Invesco has a 1 year low of $29.36 and a 1 year high of $38.43. The stock has a market cap of $13,205.61, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 0.87 and a beta of 1.74.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Thursday, February 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, February 14th. Invesco’s payout ratio is currently 42.34%.
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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.
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