Invesco Sets New 52-Week High Following Earnings Beat (IVZ)
Invesco (NYSE:IVZ)’s share price reached a new 52-week high during trading on Thursday following a stronger than expected earnings report, Analyst Ratings Net reports. The stock traded as high as $38.86 and last traded at $37.91, with a volume of 1,807,163 shares. The stock had previously closed at $38.38.
The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.06. The company had revenue of $981.00 million for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share.
A number of research firms have recently commented on IVZ. Analysts at BMO Capital Markets raised their price target on shares of Invesco from $38.00 to $40.00 in a research note on Tuesday, July 15th. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Invesco from $43.00 to $45.00 in a research note on Monday, July 14th. Finally, analysts at Susquehanna raised their price target on shares of Invesco from $36.00 to $38.00 in a research note on Thursday, July 10th. They now have a “neutral” rating on the stock. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $41.21.
The stock’s 50-day moving average is $37.92 and its 200-day moving average is $35.81. The company has a market cap of $16.386 billion and a P/E ratio of 18.98.
Invesco Ltd. (NYSE:IVZ) is an investment manager, dedicated to helping investors worldwide achieve their financial objectives.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.