Invacare Corp. (IVC) Expected to Earn FY2016 Earnings of ($0.91) Per Share
Invacare Corp. (NYSE:IVC) – Investment analysts at KeyCorp lowered their FY2016 earnings estimates for Invacare Corp. in a research note issued on Wednesday. KeyCorp analyst M. Mishan now forecasts that the brokerage will post earnings per share of ($0.91) for the year, down from their prior estimate 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 cut Invacare Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 2nd.
Invacare Corp. (NYSE:IVC) opened at 11.42 on Monday. The company’s market capitalization is $370.80 million. Invacare Corp. has a 12-month low of $9.89 and a 12-month high of $20.41. The firm’s 50 day moving average price is $11.58 and its 200-day moving average price is $11.93.
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 analysts’ consensus estimates of ($0.24) by $0.09. The business had revenue of $275 million for the quarter, compared to the consensus estimate of $270.10 million. Invacare Corp. had a negative return on equity of 5.16% and a negative net margin of 2.81%. Invacare Corp.’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.23) earnings per share.
A number of hedge funds have recently made changes to their positions in the stock. Brandes Investment Partners LP boosted its stake 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 during the period. Emerald Acquisition Ltd. acquired a new stake in Invacare Corp. during the second quarter worth $6,796,000. JPMorgan Chase & Co. boosted its stake in Invacare Corp. by 276.3% in the second quarter. JPMorgan Chase & Co. now owns 761,713 shares of the company’s stock worth $9,240,000 after buying an additional 559,308 shares during the last quarter. Franklin Resources Inc. boosted its stake in Invacare Corp. by 16.9% in the first quarter. Franklin Resources Inc. now owns 2,494,237 shares of the company’s stock worth $32,849,000 after buying an additional 360,000 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new stake in Invacare Corp. during the second quarter worth $2,582,000.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, October 13th will be given a dividend of $0.0125 per share. The ex-dividend date is Tuesday, October 11th. This represents a $0.05 annualized dividend and a yield of 0.44%. Invacare Corp.’s dividend payout ratio (DPR) is presently -5.21%.
Invacare Corp. Company Profile
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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