Invesco Ltd. (IVZ) to Post FY2017 Earnings of $2.66 Per Share, Jefferies Group Forecasts
Invesco Ltd. (NYSE:IVZ) – Equities researchers at Jefferies Group boosted their FY2017 EPS estimates for shares of Invesco in a research report issued on Wednesday. Jefferies Group analyst D. Fannon now anticipates that the asset manager will earn $2.66 per share for the year, up from their prior forecast of $2.65. Jefferies Group currently has a “Buy” rating and a $42.00 target price on the stock. Jefferies Group also issued estimates for Invesco’s Q4 2017 earnings at $0.69 EPS, Q1 2018 earnings at $0.68 EPS, Q2 2018 earnings at $0.72 EPS, Q3 2018 earnings at $0.78 EPS, Q4 2018 earnings at $0.78 EPS, FY2018 earnings at $2.96 EPS and FY2019 earnings at $3.28 EPS.
IVZ has been the topic of a number of other research reports. ValuEngine raised shares of Invesco from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Morgan Stanley cut shares of Invesco from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $40.00 to $39.00 in a research report on Wednesday, January 3rd. Zacks Investment Research cut shares of Invesco from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. JPMorgan Chase & Co. set a $45.00 price target on shares of Invesco and gave the company a “buy” rating in a research report on Monday. Finally, Citigroup upped their price target on shares of Invesco from $38.50 to $39.50 and gave the company a “buy” rating in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Invesco currently has a consensus rating of “Hold” and an average price target of $39.79.
Invesco (NYSE:IVZ) last issued its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. Invesco had a net margin of 18.99% and a return on equity of 13.02%. The company had revenue of $976.60 million for the quarter, compared to analysts’ expectations of $940.96 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Invesco’s revenue for the quarter was up 14.3% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the company. Sun Life Financial INC bought a new position in shares of Invesco during the 3rd quarter worth about $145,000. Valeo Financial Advisors LLC acquired a new stake in shares of Invesco in the 3rd quarter worth about $160,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Invesco in the 2nd quarter worth about $185,000. ETRADE Capital Management LLC acquired a new stake in shares of Invesco in the 3rd quarter worth about $205,000. Finally, Financial Counselors Inc. acquired a new stake in shares of Invesco in the 2nd quarter worth about $215,000. 81.30% of the stock is currently owned by institutional investors.
In other news, insider Colin Meadows sold 54,215 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $36.01, for a total transaction of $1,952,282.15. Following the transaction, the insider now owns 164,420 shares of the company’s stock, valued at approximately $5,920,764.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.
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Invesco 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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