Jefferies Group Weighs in on Invesco PLC’s Q3 2017 Earnings (IVZ)
Invesco PLC (NYSE:IVZ) – Analysts at Jefferies Group boosted their Q3 2017 earnings estimates for Invesco PLC in a research note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now forecasts that the asset manager will post earnings of $0.66 per share for the quarter, up from their previous estimate of $0.64. Jefferies Group currently has a “Buy” rating and a $41.00 target price on the stock. Jefferies Group also issued estimates for Invesco PLC’s Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $2.59 EPS and FY2018 earnings at $2.75 EPS.
Several other brokerages also recently commented on IVZ. BidaskClub downgraded Invesco PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Wells Fargo & Company reiterated an “outperform” rating on shares of Invesco PLC in a report on Sunday, July 30th. ValuEngine upgraded Invesco PLC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Morgan Stanley restated an “overweight” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Invesco PLC in a research note on Monday, July 10th. Finally, Zacks Investment Research upgraded shares of Invesco PLC from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $38.04.
Invesco PLC (NYSE:IVZ) last posted its earnings results on Thursday, July 27th. The asset manager reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. The business had revenue of $906.30 million for the quarter, compared to analysts’ expectations of $891.19 million. During the same period in the previous year, the company posted $0.56 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of the stock. W. E. Donoghue & Co. LLC bought a new position in Invesco PLC in the second quarter worth $16,514,000. Griffin Asset Management Inc. bought a new position in Invesco PLC in the second quarter worth $380,000. Sentry Investment Management LLC lifted its position in Invesco PLC by 0.9% in the second quarter. Sentry Investment Management LLC now owns 25,726 shares of the asset manager’s stock worth $905,000 after purchasing an additional 229 shares during the period. Toronto Dominion Bank lifted its position in Invesco PLC by 26.5% in the second quarter. Toronto Dominion Bank now owns 137,792 shares of the asset manager’s stock worth $4,848,000 after purchasing an additional 28,833 shares during the period. Finally, Koch Industries Inc. bought a new position in Invesco PLC in the second quarter worth $446,000. 79.79% of the stock is owned by hedge funds and other institutional investors.
About Invesco PLC
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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