Zacks Research Comments on Invesco Ltd.’s Q3 2023 Earnings (NYSE:IVZ)

Posted by Defense World Staff on Sep 11th, 2023

Invesco Ltd. (NYSE:IVZ – Free Report) – Investment analysts at Zacks Research lifted their Q3 2023 earnings estimates for shares of Invesco in a research note issued on Friday, September 8th. Zacks Research analyst S. Shah now forecasts that the asset manager will earn $0.35 per share for the quarter, up from their previous estimate of $0.33. The consensus estimate for Invesco’s current full-year earnings is $1.53 per share. Zacks Research also issued estimates for Invesco’s Q4 2023 earnings at $0.44 EPS, Q3 2024 earnings at $0.47 EPS, Q4 2024 earnings at $0.48 EPS, FY2024 earnings at $1.81 EPS and Q1 2025 earnings at $0.53 EPS.

Invesco (NYSE:IVZ – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The asset manager reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.09). Invesco had a return on equity of 7.54% and a net margin of 15.29%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.39 EPS. The business’s quarterly revenue was down 7.1% on a year-over-year basis.

Several other analysts have also commented on the stock. Morgan Stanley reissued an “equal weight” rating and set a $17.00 price target on shares of Invesco in a research report on Tuesday, July 25th. BMO Capital Markets assumed coverage on shares of Invesco in a report on Monday, July 10th. They issued a “market perform” rating and a $21.00 price target on the stock. StockNews.com raised Invesco from a “sell” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada raised their price objective on Invesco from $17.00 to $19.00 in a research report on Friday, July 21st. Finally, Citigroup upped their target price on Invesco from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, July 14th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.45.

Get Our Latest Stock Analysis on IVZ

Invesco Trading Up 0.7 %

Shares of NYSE IVZ opened at $15.45 on Monday. The business has a fifty day moving average price of $16.47 and a 200 day moving average price of $16.30. Invesco has a 1-year low of $13.20 and a 1-year high of $20.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 5.15 and a quick ratio of 5.15. The stock has a market capitalization of $6.93 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.39.

Invesco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 11th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend was Thursday, August 10th. Invesco’s dividend payout ratio (DPR) is 56.74%.

Insider Buying and Selling

In other Invesco news, major shareholder Invesco Realty, Inc. purchased 2,800,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were bought at an average price of $25.00 per share, for a total transaction of $70,000,000.00. Following the acquisition, the insider now owns 853,400 shares in the company, valued at $21,335,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Invesco

Several hedge funds have recently added to or reduced their stakes in IVZ. Quilter Plc purchased a new position in shares of Invesco during the 2nd quarter valued at about $38,000. GTS Securities LLC acquired a new position in Invesco in the second quarter valued at approximately $1,282,000. Equitable Holdings Inc. boosted its position in Invesco by 10.3% in the 2nd quarter. Equitable Holdings Inc. now owns 26,710 shares of the asset manager’s stock worth $449,000 after purchasing an additional 2,501 shares in the last quarter. State of Tennessee Treasury Department grew its stake in shares of Invesco by 199.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 214,830 shares of the asset manager’s stock worth $3,611,000 after purchasing an additional 143,151 shares during the period. Finally, Cape Cod Five Cents Savings Bank purchased a new position in shares of Invesco during the 2nd quarter valued at approximately $642,000. 66.27% of the stock is owned by hedge funds and other institutional investors.

Invesco Company Profile

(Get Free Report)

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.