Invesco PLC (IVZ) Expected to Post Quarterly Sales of $1.29 Billion
Wall Street brokerages expect Invesco PLC (NYSE:IVZ) to announce $1.29 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Invesco PLC’s earnings. The lowest sales estimate is $1.28 billion and the highest is $1.31 billion. Invesco PLC posted sales of $1.20 billion in the same quarter last year, which suggests a positive year over year growth rate of 7.5%. The company is scheduled to report its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Invesco PLC will report full-year sales of $1.29 billion for the current fiscal year, with estimates ranging from $5.04 billion to $5.16 billion. For the next year, analysts forecast that the firm will report sales of $5.46 billion per share, with estimates ranging from $5.35 billion to $5.50 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Invesco PLC.
Invesco PLC (NYSE:IVZ) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. The business had revenue of $906.30 million during the quarter, compared to the consensus estimate of $891.19 million. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share.
Several brokerages have recently commented on IVZ. Royal Bank Of Canada began coverage on Invesco PLC in a report on Thursday, June 29th. They set an “outperform” rating and a $41.00 target price on the stock. Jefferies Group LLC restated a “buy” rating and set a $41.00 target price on shares of Invesco PLC in a report on Sunday, July 30th. Keefe, Bruyette & Woods restated a “buy” rating and set a $36.00 target price on shares of Invesco PLC in a report on Sunday, July 2nd. ValuEngine upgraded Invesco PLC from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Finally, Zacks Investment Research cut Invesco PLC from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $37.29.
Institutional investors have recently modified their holdings of the company. Financial Architects Inc boosted its position in shares of Invesco PLC by 54.3% in the second quarter. Financial Architects Inc now owns 3,073 shares of the asset manager’s stock worth $109,000 after buying an additional 1,082 shares during the period. IFP Advisors Inc boosted its position in shares of Invesco PLC by 5.9% in the first quarter. IFP Advisors Inc now owns 3,950 shares of the asset manager’s stock worth $121,000 after buying an additional 221 shares during the period. C M Bidwell & Associates Ltd. bought a new position in shares of Invesco PLC during the second quarter worth about $185,000. Global X Management Co. LLC boosted its position in shares of Invesco PLC by 29.4% in the first quarter. Global X Management Co. LLC now owns 5,582 shares of the asset manager’s stock worth $171,000 after buying an additional 1,267 shares during the period. Finally, Gilbert & Cook Inc. bought a new position in shares of Invesco PLC during the second quarter worth about $203,000. Hedge funds and other institutional investors own 79.20% of the company’s stock.
Shares of Invesco PLC (NYSE:IVZ) opened at 34.00 on Tuesday. The company has a 50-day moving average of $35.30 and a 200 day moving average of $32.80. The firm has a market cap of $13.83 billion, a P/E ratio of 15.16 and a beta of 1.80. Invesco PLC has a 12-month low of $27.46 and a 12-month high of $36.83.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, August 15th. Invesco PLC’s dividend payout ratio (DPR) is currently 52.02%.
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Invesco PLC Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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