Jefferies Group Comments on Invesco PLC’s Q3 2016 Earnings (IVZ)
Invesco PLC (NYSE:IVZ) – Equities research analysts at Jefferies Group lifted their Q3 2016 earnings per share (EPS) estimates for shares of Invesco PLC in a report issued on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the brokerage will post earnings of $0.60 per share for the quarter, up from their previous estimate of $0.58. Jefferies Group has a “Buy” rating and a $37.00 price target on the stock. Jefferies Group also issued estimates for Invesco PLC’s Q4 2016 earnings at $0.61 EPS, FY2016 earnings at $2.25 EPS and FY2017 earnings at $2.55 EPS.
Invesco PLC (NYSE:IVZ) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. Invesco PLC had a return on equity of 11.35% and a net margin of 17.27%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $853.16 million. During the same quarter last year, the company earned $0.63 EPS. The company’s revenue was down 9.8% on a year-over-year basis.
A number of other analysts have also commented on the company. Barclays PLC boosted their price objective on Invesco PLC from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday. Deutsche Bank AG upped their target price on Invesco PLC from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, October 5th. Bank of America Corp. reaffirmed a “buy” rating and issued a $37.00 target price on shares of Invesco PLC in a report on Monday, September 26th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Invesco PLC in a report on Wednesday, September 21st. Finally, TheStreet raised Invesco PLC from a “hold” rating to a “buy” rating in a report on Wednesday, September 7th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $36.42.
Invesco PLC (NYSE:IVZ) opened at 30.31 on Wednesday. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 15.31 and a beta of 1.96. The firm’s 50-day moving average price is $30.96 and its 200-day moving average price is $29.67. Invesco PLC has a 1-year low of $23.02 and a 1-year high of $35.00.
In related news, Director Ben F. Johnson III bought 2,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were purchased at an average price of $29.24 per share, for a total transaction of $58,480.00. Following the completion of the transaction, the director now directly owns 28,653 shares in the company, valued at approximately $837,813.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward P. Lawrence sold 1,609 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $30.84, for a total value of $49,621.56. Following the sale, the director now owns 33,848 shares in the company, valued at approximately $1,043,872.32. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Ropes Wealth Advisors LLC increased its stake in Invesco PLC by 606.0% in the second quarter. Ropes Wealth Advisors LLC now owns 4,377 shares of the company’s stock valued at $112,000 after buying an additional 3,757 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Invesco PLC during the second quarter worth about $115,000. Point72 Asia Hong Kong Ltd increased its stake in shares of Invesco PLC by 11.9% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,700 shares of the company’s stock worth $120,000 after buying an additional 500 shares during the period. Mizuho Asset Management Co. Ltd. increased its stake in shares of Invesco PLC by 76.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 5,557 shares of the company’s stock worth $142,000 after buying an additional 2,406 shares during the period. Finally, Investment Counselors of Maryland LLC increased its stake in shares of Invesco PLC by 123.0% in the second quarter. Investment Counselors of Maryland LLC now owns 6,661 shares of the company’s stock worth $170,000 after buying an additional 3,674 shares during the period. Hedge funds and other institutional investors own 82.18% of the company’s stock.
Invesco PLC Company Profile
Invesco Ltd. (Invesco) is an independent global investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a diverse set of investment vehicles, to help clients achieve their investment objectives. It operates in the investment management segment.
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