INVESCO Rating Reiterated by Susquehanna (IVZ)
INVESCO (NYSE:IVZ)‘s stock had its “neutral” rating reiterated by research analysts at Susquehanna in a report released on Wednesday, AR Network reports. They currently have a $34.00 target price on the stock, up from their previous target price of $33.00. Susquehanna’s price target would suggest a potential upside of 7.94% from the stock’s previous close.
The analysts wrote, “We are leaving our 3Q13 estimate unchanged at $0.52 per share. Our full-year estimates are now $2.09 and $2.41 compared to $2.07 and $2.34, previously. Our new target is $34. The revision is reflective of market appreciation in September. We expect IVZ to have inflows of $2.5 billion-$3.5 billion in the quarter driven by passive and active equity partially offset by bonds and balanced. This quarter should support the diversity argument for the franchise. Flows should be at the higher end of the industry despite weakness in the balanced category. We see the closing of the Atlantic Trust deal as a potential catalyst as it will likely drive increased near-term capital returns. Shares look reasonable at current levels.”
Shares of INVESCO (NYSE:IVZ) traded up 1.02% during mid-day trading on Wednesday, hitting $31.82. The stock had a trading volume of 234,544 shares. INVESCO has a 52 week low of $22.94 and a 52 week high of $35.02. The stock has a 50-day moving average of $31.53 and a 200-day moving average of $31.86. The company has a market cap of $14.090 billion and a price-to-earnings ratio of 18.78.
INVESCO (NYSE:IVZ) last released its earnings data on Wednesday, July 31st. The company reported $0.50 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.51 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company posted $0.41 earnings per share. INVESCO’s revenue was up 15.7% compared to the same quarter last year. On average, analysts predict that INVESCO will post $2.07 earnings per share for the current fiscal year.
IVZ has been the subject of a number of other recent research reports. Analysts at ISI Group initiated coverage on shares of INVESCO in a research note to investors on Tuesday. They set a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of INVESCO in a research note to investors on Thursday, September 12th. They now have a $32.50 price target on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of INVESCO to $40.00 in a research note to investors on Tuesday, August 13th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $34.38.
Invesco Ltd. (NYSE:IVZ) is an investment manager, dedicated to helping investors worldwide achieve their financial objectives.
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