Equities research analysts forecast that Invesco Ltd. (NYSE:IVZ) will post $1.40 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Invesco’s earnings. The lowest sales estimate is $1.39 billion and the highest is $1.42 billion. Invesco reported sales of $1.25 billion during the same quarter last year, which indicates a positive year over year growth rate of 12%. The business is expected to report its next earnings report on Thursday, July 26th.
According to Zacks, analysts expect that Invesco will report full year sales of $5.66 billion for the current financial year, with estimates ranging from $5.57 billion to $5.69 billion. For the next year, analysts anticipate that the firm will report sales of $5.88 billion per share, with estimates ranging from $5.67 billion to $6.04 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Invesco.
Invesco (NYSE:IVZ) last released its earnings results 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. Invesco had a return on equity of 12.95% and a net margin of 21.96%. The business had revenue of $958.00 million during the quarter, compared to the consensus estimate of $979.91 million. During the same period last year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year.
Several analysts have recently weighed in on the company. UBS Group lifted their target price on Invesco from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, May 24th. ValuEngine downgraded Invesco from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded Invesco from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. TheStreet downgraded Invesco from a “b-” rating to a “c+” rating in a research report on Tuesday, May 29th. Finally, Barclays decreased their target price on Invesco from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, April 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Invesco has an average rating of “Hold” and an average price target of $39.93.
In other news, major shareholder Ltd. Invesco acquired 2,127,659 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was purchased at an average cost of $4.69 per share, for a total transaction of $9,978,720.71. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its stake in Invesco by 11.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 15,915 shares of the asset manager’s stock valued at $582,000 after purchasing an additional 1,604 shares during the last quarter. Zeke Capital Advisors LLC grew its stake in Invesco by 11.5% in the fourth quarter. Zeke Capital Advisors LLC now owns 15,543 shares of the asset manager’s stock valued at $568,000 after purchasing an additional 1,609 shares during the last quarter. Morningstar Investment Services LLC grew its stake in Invesco by 8.6% in the first quarter. Morningstar Investment Services LLC now owns 23,515 shares of the asset manager’s stock valued at $753,000 after purchasing an additional 1,858 shares during the last quarter. Neuberger Berman Group LLC grew its stake in Invesco by 3.4% in the first quarter. Neuberger Berman Group LLC now owns 56,944 shares of the asset manager’s stock valued at $1,823,000 after purchasing an additional 1,888 shares during the last quarter. Finally, Miles Capital Inc. grew its stake in Invesco by 35.0% in the first quarter. Miles Capital Inc. now owns 7,579 shares of the asset manager’s stock valued at $243,000 after purchasing an additional 1,966 shares during the last quarter. Institutional investors own 79.78% of the company’s stock.
NYSE:IVZ opened at $26.59 on Friday. Invesco has a twelve month low of $26.16 and a twelve month high of $38.43. The firm has a market cap of $11.05 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.94 and a beta of 1.67. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.72.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 11th were issued a $0.30 dividend. This is an increase from Invesco’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Thursday, May 10th. Invesco’s payout ratio is presently 44.44%.
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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