$1.29 Billion in Sales Expected for Invesco PLC (IVZ) This Quarter
Brokerages expect Invesco PLC (NYSE:IVZ) to post sales of $1.29 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Invesco PLC’s earnings. The highest sales estimate is $1.31 billion and the lowest is $1.28 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 business is expected to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Invesco PLC will report full year sales of $1.29 billion for the current year, with estimates ranging from $5.04 billion to $5.16 billion. For the next fiscal year, analysts forecast that the business will post sales of $5.46 billion per share, with estimates ranging from $5.36 billion to $5.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Invesco PLC.
Invesco PLC (NYSE:IVZ) last announced its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $906.30 million during the quarter, compared to analyst estimates of $891.19 million. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share.
A number of analysts have commented on the stock. Barclays PLC assumed coverage on shares of Invesco PLC in a research report on Friday, September 8th. They set an “overweight” rating and a $38.00 price target on the stock. ValuEngine cut shares of Invesco PLC from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub cut shares of Invesco PLC from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Jefferies Group LLC set a $41.00 price target on shares of Invesco PLC and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research cut shares of Invesco PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Invesco PLC has an average rating of “Buy” and a consensus price target of $37.38.
Shares of Invesco PLC (NYSE IVZ) traded up 0.045% during mid-day trading on Thursday, hitting $33.465. The stock had a trading volume of 642,684 shares. Invesco PLC has a 12-month low of $27.46 and a 12-month high of $36.84. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 14.920 and a beta of 1.80. The firm’s 50-day moving average price is $33.22 and its 200 day moving average price is $33.02.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 17th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.47%. Invesco PLC’s dividend payout ratio (DPR) is presently 52.02%.
Several hedge funds have recently added to or reduced their stakes in the company. W. E. Donoghue & Co. LLC bought a new position in shares of Invesco PLC during the 2nd quarter worth about $16,514,000. Griffin Asset Management Inc. bought a new position in Invesco PLC in the 2nd quarter valued at about $380,000. Sentry Investment Management LLC lifted its position in Invesco PLC by 0.9% in the 2nd quarter. Sentry Investment Management LLC now owns 25,726 shares of the asset manager’s stock valued at $905,000 after acquiring an additional 229 shares in the last quarter. Toronto Dominion Bank lifted its position in Invesco PLC by 26.5% in the 2nd quarter. Toronto Dominion Bank now owns 137,792 shares of the asset manager’s stock valued at $4,848,000 after acquiring an additional 28,833 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in Invesco PLC in the 2nd quarter valued at about $446,000. 79.79% of the stock is currently owned by institutional investors.
About Invesco PLC
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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