Invacare Corp. (IVC) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS
Invacare Corp. (NYSE:IVC) posted its quarterly earnings results on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.08, American Banking and Market News reports. The company had revenue of $341.20 million for the quarter, compared to the consensus estimate of $333.10 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis.
IVC has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Invacare Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 8th. They now have a $17.00 price target on the stock. On the ratings front, analysts at CJS Securities initiated coverage on shares of Invacare Corp. in a research note to investors on Tuesday, September 24th. They set an “outperform” rating on the stock.
Shares of Invacare Corp. (NYSE:IVC) traded up 10.79% during mid-day trading on Thursday, hitting $20.0525. The stock had a trading volume of 373,292 shares. Invacare Corp. has a 52-week low of $10.26 and a 52-week high of $18.27. The stock has a 50-day moving average of $15.72 and a 200-day moving average of $14.62. The company has a market cap of $641.7 million and a price-to-earnings ratio of 31.37.
Invacare Corporation (NYSE:IVC) is the manufacturer and distributor of medical equipment and supplies used in home.
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