FY2017 Earnings Forecast for Invacare Corporation Issued By KeyCorp (IVC)
Invacare Corporation (NYSE:IVC) – Stock analysts at KeyCorp dropped their FY2017 EPS estimates for shares of Invacare Corporation in a research note issued on Wednesday. KeyCorp analyst M. Mishan now forecasts that the health services provider will post earnings per share of ($1.93) for the year, down from their prior estimate of ($1.88). KeyCorp has a “Buy” rating and a $18.00 price target on the stock. KeyCorp also issued estimates for Invacare Corporation’s Q4 2017 earnings at ($0.42) EPS and FY2018 earnings at ($1.15) EPS.
Invacare Corporation (NYSE:IVC) last released its quarterly earnings data on Tuesday, November 7th. The health services provider reported ($0.41) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The business had revenue of $250.91 million during the quarter, compared to analysts’ expectations of $239.88 million. Invacare Corporation had a negative net margin of 7.95% and a negative return on equity of 13.33%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.37) EPS.
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Several other research firms have also recently issued reports on IVC. BidaskClub cut shares of Invacare Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. ValuEngine raised shares of Invacare Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research raised shares of Invacare Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Invacare Corporation has an average rating of “Hold” and a consensus price target of $15.00.
Shares of Invacare Corporation (NYSE:IVC) opened at $17.25 on Monday. Invacare Corporation has a 1 year low of $9.90 and a 1 year high of $17.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.57 and a current ratio of 2.28.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Thursday, October 5th were given a $0.0125 dividend. The ex-dividend date was Wednesday, October 4th. This represents a $0.05 dividend on an annualized basis and a yield of 0.29%. Invacare Corporation’s dividend payout ratio (DPR) is presently -2.13%.
In related news, SVP Dean J. Childers sold 6,249 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $15.15, for a total value of $94,672.35. Following the completion of the sale, the senior vice president now directly owns 44,875 shares of the company’s stock, valued at $679,856.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan increased its stake in Invacare Corporation by 4.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,580 shares of the health services provider’s stock valued at $100,000 after purchasing an additional 310 shares during the period. 1st Global Advisors Inc. acquired a new position in Invacare Corporation in the second quarter valued at $138,000. Leucadia National Corp acquired a new position in Invacare Corporation in the second quarter valued at $161,000. Louisiana State Employees Retirement System increased its stake in Invacare Corporation by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the health services provider’s stock valued at $173,000 after purchasing an additional 200 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Invacare Corporation by 39.8% in the second quarter. BNP Paribas Arbitrage SA now owns 14,646 shares of the health services provider’s stock valued at $193,000 after purchasing an additional 4,166 shares during the period. Institutional investors own 94.65% of the company’s stock.
About Invacare Corporation
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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