Invesco Receives Neutral Rating from Zacks (IVZ)
Invesco (NYSE:IVZ)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Thursday. They currently have a $40.00 price target on the stock. Zacks‘s price target would suggest a potential upside of 6.16% from the stock’s previous close.
Zacks’ analyst wrote, “Invesco’s first-quarter 2014 adjusted earnings comfortably surpassed the Zacks Consensus Estimate. Growth in top line driven by improvement in assets under management (AUM) was the tailwind. Moreover, a healthy balance sheet position continued to pose as the company’s strength. However, these positives were partially offset by increase in expenses. Nevertheless, we expect operating leverage to improve in the long term owing to the company’s cost-control initiatives. Additionally, meaningful capital deployment activities continue to boost shareholders’ value. Further, the company is poised to benefit from the improved global investment flows, given its diversified footprint and products. However, high debt levels and rising expenses remain matters of concern.”
In other Invesco news, Director Karen Dunn Kelley sold 27,000 shares of the stock on the open market in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $38.23, for a total value of $1,032,210.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Invesco (NYSE:IVZ) traded down 0.50% on Thursday, hitting $37.68. 1,556,389 shares of the company’s stock traded hands. Invesco has a 52-week low of $30.09 and a 52-week high of $38.41. The stock’s 50-day moving average is $36.08 and its 200-day moving average is $35.23. The company has a market cap of $16.303 billion and a P/E ratio of 18.73.
Invesco (NYSE:IVZ) last announced its earnings results on Thursday, May 1st. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.05. The company had revenue of $887.80 million for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company posted $0.52 earnings per share. On average, analysts predict that Invesco will post $2.44 earnings per share for the current fiscal year.
A number of other firms have also recently commented on IVZ. Analysts at Morgan Stanley cut their price target on shares of Invesco from $40.00 to $39.00 in a research note on Monday. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Invesco from a “neutral” rating to an “overweight” rating in a research note on Tuesday, May 20th. They now have a $42.00 price target on the stock, up previously from $41.00. Finally, analysts at Deutsche Bank initiated coverage on shares of Invesco in a research note on Friday, May 16th. They set a “hold” rating and a $39.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $39.85.
Invesco Ltd. (NYSE:IVZ) is an investment manager, dedicated to helping investors worldwide achieve their financial objectives.
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