Invesco (NYSE:IVZ) Issues Quarterly Earnings Results

Invesco (NYSE:IVZ) posted its quarterly earnings data on Tuesday. The asset manager reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01, Briefing.com reports. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the business earned $0.35 earnings per share. Invesco’s revenue for the quarter was down 20.8% compared to the same quarter last year.

Invesco Stock Performance

Shares of IVZ traded down $0.60 during midday trading on Wednesday, reaching $17.44. 1,759,453 shares of the stock were exchanged, compared to its average volume of 4,245,622. Invesco has a twelve month low of $12.48 and a twelve month high of $18.79. The company has a market cap of $7.85 billion, a P/E ratio of -23.35, a PEG ratio of 1.10 and a beta of 1.44. The stock’s 50 day simple moving average is $17.10 and its 200 day simple moving average is $16.09. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68.

Invesco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 14th will be issued a $0.205 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.82 annualized dividend and a yield of 4.70%. Invesco’s dividend payout ratio is currently -109.33%.

Analysts Set New Price Targets

IVZ has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on shares of Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a report on Wednesday. Morgan Stanley increased their target price on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Wells Fargo & Company upped their target price on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Wednesday. Royal Bank of Canada boosted their target price on Invesco from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. raised their price target on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Invesco presently has an average rating of “Hold” and a consensus price target of $18.29.

About Invesco

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.