Jefferies Group Equities Analysts Boost Earnings Estimates for Invesco PLC (IVZ)
Invesco PLC (NYSE:IVZ) – Analysts at Jefferies Group increased their Q3 2016 earnings per share (EPS) estimates for shares of Invesco PLC in a research note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now expects that the brokerage will earn $0.60 per share for the quarter, up from their previous forecast of $0.58. Jefferies Group has a “Buy” rating and a $37.00 price objective on the stock. Jefferies Group also issued estimates for Invesco PLC’s Q4 2016 earnings at $0.61 EPS, FY2016 earnings at $2.25 EPS and FY2017 earnings at $2.55 EPS.
A number of other brokerages have also commented on IVZ. TheStreet raised shares of Invesco PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, September 7th. Deutsche Bank AG increased their price target on shares of Invesco PLC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. Zacks Investment Research raised shares of Invesco PLC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 30th. Barclays PLC reissued an “overweight” rating and issued a $36.00 price target on shares of Invesco PLC in a research report on Friday, September 23rd. Finally, Bank of America Corp. reissued a “buy” rating and issued a $37.00 price target on shares of Invesco PLC in a research report on Monday, September 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Invesco PLC presently has a consensus rating of “Buy” and a consensus target price of $36.33.
Shares of Invesco PLC (NYSE:IVZ) traded up 1.228% during trading on Wednesday, hitting $30.915. The stock had a trading volume of 2,425,872 shares. Invesco PLC has a one year low of $23.02 and a one year high of $35.00. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 15.614 and a beta of 1.96. The stock’s 50-day moving average price is $30.96 and its 200 day moving average price is $29.66.
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Invesco PLC (NYSE:IVZ) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The business earned $1.19 billion during the quarter, compared to the consensus estimate of $853.16 million. Invesco PLC had a return on equity of 11.35% and a net margin of 17.27%. The business’s revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share.
A number of institutional investors have recently made changes to their positions in IVZ. Ropes Wealth Advisors LLC boosted its position in shares of Invesco PLC by 606.0% in the second quarter. Ropes Wealth Advisors LLC now owns 4,377 shares of the company’s stock worth $112,000 after buying an additional 3,757 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Invesco PLC during the second quarter worth about $115,000. Point72 Asia Hong Kong Ltd boosted its position in shares of Invesco PLC by 11.9% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,700 shares of the company’s stock worth $120,000 after buying an additional 500 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in shares of Invesco PLC by 76.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 5,557 shares of the company’s stock worth $142,000 after buying an additional 2,406 shares during the last quarter. Finally, Investment Counselors of Maryland LLC boosted its position in shares of Invesco PLC by 123.0% in the second quarter. Investment Counselors of Maryland LLC now owns 6,661 shares of the company’s stock worth $170,000 after buying an additional 3,674 shares during the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.
In other Invesco PLC news, Director Edward P. Lawrence sold 1,609 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $30.84, for a total value of $49,621.56. Following the transaction, the director now directly owns 33,848 shares of the company’s stock, valued at $1,043,872.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ben F. Johnson III acquired 2,000 shares of Invesco PLC stock in a transaction on Monday, August 1st. The stock was acquired at an average cost of $29.24 per share, for a total transaction of $58,480.00. Following the completion of the purchase, the director now owns 28,653 shares of the company’s stock, valued at approximately $837,813.72. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.
About Invesco PLC
Invesco Ltd. (Invesco) is an independent global investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a diverse set of investment vehicles, to help clients achieve their investment objectives. It operates in the investment management segment.
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