FY2016 EPS Estimates for Invacare Corp. Decreased by KeyCorp (IVC)
Invacare Corp. (NYSE:IVC) – Investment analysts at KeyCorp lowered their FY2016 EPS estimates for shares of Invacare Corp. in a research note issued on Wednesday. KeyCorp analyst M. Mishan now anticipates that the firm will post earnings per share of ($0.91) for the year, down from their previous forecast of ($0.89). KeyCorp has a “Buy” rating and a $17.00 price objective on the stock. KeyCorp also issued estimates for Invacare Corp.’s Q4 2016 earnings at ($0.13) EPS and FY2017 earnings at ($0.71) EPS.
Invacare Corp. (NYSE:IVC) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by $0.09. Invacare Corp. had a negative return on equity of 5.16% and a negative net margin of 2.81%. The company had revenue of $275 million for the quarter, compared to the consensus estimate of $270.10 million. During the same quarter in the previous year, the business earned ($0.23) earnings per share. Invacare Corp.’s revenue was down 3.9% compared to the same quarter last year.
Separately, Zacks Investment Research raised Invacare Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th.
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Invacare Corp. (NYSE:IVC) opened at 11.71 on Monday. The company’s market capitalization is $380.21 million. The company’s 50-day moving average price is $11.58 and its 200 day moving average price is $11.94. Invacare Corp. has a 52-week low of $9.89 and a 52-week high of $20.41.
Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Invacare Corp. by 4.3% in the first quarter. Royal Bank of Canada now owns 16,233 shares of the company’s stock worth $214,000 after buying an additional 670 shares during the period. Amici Capital LLC increased its stake in Invacare Corp. by 200.0% in the first quarter. Amici Capital LLC now owns 300,000 shares of the company’s stock worth $3,951,000 after buying an additional 200,000 shares in the last quarter. Springbok Capital Management LLC increased its stake in Invacare Corp. by 78.4% in the first quarter. Springbok Capital Management LLC now owns 22,300 shares of the company’s stock worth $294,000 after buying an additional 9,800 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Invacare Corp. by 815.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 151,939 shares of the company’s stock worth $2,001,000 after buying an additional 135,350 shares in the last quarter. Finally, Bogle Investment Management L P DE purchased a new stake in Invacare Corp. during the first quarter worth approximately $2,039,000.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, October 13th will be paid a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Tuesday, October 11th. Invacare Corp.’s dividend payout ratio (DPR) is -5.21%.
About Invacare Corp.
Invacare Corporation is a manufacturer and distributor for medical equipment used in non-acute care settings. The Company’s geographical segments are Europe; North America, which includes North America/Home Medical Equipment (North America/HME) and Institutional Products Group (IPG) segments, and Asia/Pacific.
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