Equities research analysts forecast that Invesco (NYSE:IVZ) will post sales of $1.38 billion for the current fiscal quarter, according to Zacks. Three analysts have issued 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 indicates a positive year-over-year growth rate of 16%. The business is scheduled to issue its next earnings report on Thursday, April 26th.
On average, analysts expect that Invesco will report full year sales of $1.38 billion for the current year, with estimates ranging from $5.75 billion to $5.83 billion. For the next financial year, analysts anticipate that the firm will post sales of $6.10 billion per share, with estimates ranging from $5.93 billion to $6.18 billion. Zacks Investment Research’s sales averages 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 data on Wednesday, January 31st. The asset manager reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. Invesco had a net margin of 21.85% and a return on equity of 13.20%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $982.86 million. During the same period in the previous year, the company posted $0.59 EPS. Invesco’s revenue was up 16.3% compared to the same quarter last year.
A number of equities analysts have recently weighed in on IVZ shares. Royal Bank of Canada set a $47.00 price target on shares of Invesco and gave the stock a “buy” rating in a research note on Saturday, December 16th. Morgan Stanley cut shares of Invesco from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $40.00 to $39.00 in a research note on Wednesday, January 3rd. Zacks Investment Research raised shares of Invesco from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Wednesday, January 3rd. JPMorgan Chase set a $45.00 price objective on shares of Invesco and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, Bank of America lowered shares of Invesco from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.57.
Shares of NYSE:IVZ traded down $0.05 on Wednesday, reaching $30.65. 2,478,144 shares of the company were exchanged, compared to its average volume of 3,767,687. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.77. Invesco has a 1-year low of $30.02 and a 1-year high of $38.43. The stock has a market cap of $12,499.41, a PE ratio of 11.35, a price-to-earnings-growth ratio of 0.82 and a beta of 1.70.
In other Invesco news, insider Kevin M. Carome sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $33.38, for a total value of $834,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Martin L. Flanagan sold 422,860 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $33.12, for a total transaction of $14,005,123.20. The disclosure for this sale can be found here. Insiders sold a total of 452,860 shares of company stock worth $15,011,173 over the last quarter. Insiders own 1.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Capital International Investors lifted its holdings 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 purchasing an additional 1,169,200 shares in the last quarter. American Century Companies Inc. lifted its holdings in Invesco by 1.8% in the 4th quarter. American Century Companies Inc. now owns 9,652,437 shares of the asset manager’s stock valued at $352,700,000 after purchasing an additional 173,766 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in Invesco by 45.2% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 7,403,295 shares of the asset manager’s stock valued at $270,516,000 after purchasing an additional 2,306,093 shares in the last quarter. Kiltearn Partners LLP lifted its holdings in Invesco by 2.5% in the 4th quarter. Kiltearn Partners LLP now owns 5,949,210 shares of the asset manager’s stock valued at $217,384,000 after purchasing an additional 145,800 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Invesco by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 4,277,503 shares of the asset manager’s stock valued at $155,969,000 after purchasing an additional 150,909 shares in the last quarter. Institutional investors own 82.11% of the company’s stock.
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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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