Invesco (NYSE:IVZ) Issues Earnings Results

Invesco (NYSE:IVZ) announced its earnings results 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 the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.35 earnings per share. The company’s revenue was down 20.8% on a year-over-year basis.

Invesco Stock Down 3.3 %

NYSE IVZ traded down $0.60 during trading on Wednesday, reaching $17.44. The company’s stock had a trading volume of 1,759,453 shares, compared to its average volume of 4,245,622. The business has a 50-day moving average price of $17.10 and a 200-day moving average price of $16.09. Invesco has a 1-year low of $12.48 and a 1-year high of $18.79. The stock has a market capitalization of $7.85 billion, a PE ratio of -23.35, a PEG ratio of 1.10 and a beta of 1.44. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.68.

Invesco Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on IVZ shares. UBS Group increased their price target on Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company raised their price target on shares of Invesco from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Wednesday. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Evercore ISI upped their target price on shares of Invesco from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and a consensus price target of $18.29.

Invesco Company Profile

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.