Invesco PLC (IVZ) Expected to Earn FY2019 Earnings of $2.91 Per Share
Invesco PLC (NYSE:IVZ) – Jefferies Group issued their FY2019 earnings estimates for shares of Invesco PLC in a report released on Tuesday. Jefferies Group analyst D. Fannon expects that the asset manager will earn $2.91 per share for the year. Jefferies Group currently has a “Buy” rating and a $41.00 target price on the stock.
Several other equities research analysts have also commented on IVZ. BidaskClub upgraded Invesco PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada started coverage on Invesco PLC in a research report on Thursday, June 29th. They issued an “outperform” rating and a $41.00 price objective on the stock. Keefe, Bruyette & Woods restated a “buy” rating and issued a $36.00 price objective on shares of Invesco PLC in a research report on Sunday, July 2nd. Zacks Investment Research upgraded Invesco PLC from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Tuesday, July 4th. Finally, Morgan Stanley restated an “overweight” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Invesco PLC in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $37.96.
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Shares of Invesco PLC (IVZ) traded up 0.236% during trading on Wednesday, hitting $36.165. 1,332,703 shares of the stock traded hands. The stock has a 50 day moving average of $33.60 and a 200 day moving average of $33.40. Invesco PLC has a 52-week low of $27.46 and a 52-week high of $36.84. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 16.145 and a beta of 1.80.
Invesco PLC (NYSE:IVZ) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. The firm had revenue of $906.30 million for the quarter, compared to analysts’ expectations of $891.19 million. During the same quarter in the prior year, the business earned $0.56 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the company. Financial Architects Inc raised its stake in shares of Invesco PLC by 54.3% during the 2nd 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. C M Bidwell & Associates Ltd. acquired a new position in shares of Invesco PLC during the 2nd quarter worth approximately $185,000. Global X Management Co. LLC raised its stake in shares of Invesco PLC by 29.4% during the 1st 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. Gilbert & Cook Inc. acquired a new position in shares of Invesco PLC during the 2nd quarter worth approximately $203,000. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of Invesco PLC during the 2nd quarter worth approximately $206,000. 79.79% of the stock is owned by institutional investors and hedge funds.
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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