FY2016 EPS Estimates for Invacare Corp. Decreased by KeyCorp (IVC)
Invacare Corp. (NYSE:IVC) – KeyCorp dropped their FY2016 earnings per share (EPS) estimates for Invacare Corp. in a note issued to investors on Wednesday. KeyCorp analyst M. Mishan now forecasts that the brokerage will post earnings of ($0.91) per share for the year, down from their prior forecast of ($0.89). KeyCorp has a “Buy” rating and a $17.00 price objective on the stock. KeyCorp also issued estimates for Invacare Corp.’s Q4 2016 earnings at ($0.13) EPS and FY2017 earnings at ($0.71) EPS.
Separately, Zacks Investment Research raised shares of Invacare Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th.
Invacare Corp. (NYSE:IVC) opened at 11.71 on Monday. The company’s 50-day moving average is $11.58 and its 200 day moving average is $11.94. Invacare Corp. has a 12-month low of $9.89 and a 12-month high of $20.41. The stock’s market capitalization is $380.21 million.
Invacare Corp. (NYSE:IVC) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by $0.09. The firm had revenue of $275 million for the quarter, compared to analysts’ expectations of $270.10 million. Invacare Corp. had a negative return on equity of 5.16% and a negative net margin of 2.81%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.23) earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, October 13th will be issued a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 0.43%. The ex-dividend date is Tuesday, October 11th. Invacare Corp.’s dividend payout ratio is currently -5.21%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brandes Investment Partners LP raised its position in shares of Invacare Corp. by 754.3% in the second quarter. Brandes Investment Partners LP now owns 951,052 shares of the company’s stock valued at $11,536,000 after buying an additional 839,722 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Invacare Corp. during the second quarter valued at $6,796,000. JPMorgan Chase & Co. raised its position in shares of Invacare Corp. by 276.3% in the second quarter. JPMorgan Chase & Co. now owns 761,713 shares of the company’s stock valued at $9,240,000 after buying an additional 559,308 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Invacare Corp. by 16.9% in the first quarter. Franklin Resources Inc. now owns 2,494,237 shares of the company’s stock valued at $32,849,000 after buying an additional 360,000 shares in the last quarter. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Invacare Corp. during the second quarter valued at $2,582,000.
About Invacare Corp.
Invacare Corporation is a manufacturer and distributor for medical equipment used in non-acute care settings. The Company’s geographical segments are Europe; North America, which includes North America/Home Medical Equipment (North America/HME) and Institutional Products Group (IPG) segments, and Asia/Pacific.
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