Invesco PLC (IVZ) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research cut shares of Invesco PLC (NYSE:IVZ) from a buy rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “Invesco’s shares have underperformed the industry so far this year. Yet, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. With an aim to enhance its exchange-traded funds (ETF) operation, the company has inked a deal to acquire the ETF business of Guggenheim Partners LLC. Strong balance sheet position along with cost savings efforts, improving assets under management (AUM), diverse product offerings and alternative investment strategies should continue supporting growth. However, high-debt levels will likely hinder the company from procuring additional finance. Further, amortization of the company’s goodwill and intangible assets could have an adverse effect on its profitability.”
Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $39.00 price target on shares of Invesco PLC in a report on Sunday, July 30th. Jefferies Group LLC lifted their price target on Invesco PLC from $35.00 to $40.00 and gave the company a buy rating in a report on Tuesday, July 4th. BidaskClub raised Invesco PLC from a hold rating to a buy rating in a report on Wednesday, June 14th. ValuEngine raised Invesco PLC from a hold rating to a buy rating in a report on Monday, October 2nd. Finally, Citigroup Inc. lifted their price target on Invesco PLC from $38.50 to $39.50 and gave the company a buy rating in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $38.04.
Invesco PLC (NYSE IVZ) traded down 0.39% during trading on Thursday, reaching $36.15. The company’s stock had a trading volume of 3,281,535 shares. The stock has a market capitalization of $14.71 billion, a price-to-earnings ratio of 16.12 and a beta of 1.80. Invesco PLC has a 52 week low of $27.46 and a 52 week high of $36.84. The firm has a 50 day moving average of $33.78 and a 200 day moving average of $33.44.
Invesco PLC (NYSE:IVZ) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The company had revenue of $906.30 million for the quarter, compared to analysts’ expectations of $891.19 million. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 earnings per share. Analysts expect that Invesco PLC will post $2.57 EPS for the current year.
Institutional investors have recently bought and sold shares of the business. Financial Architects Inc grew its position in Invesco PLC by 54.3% in the second quarter. Financial Architects Inc now owns 3,073 shares of the asset manager’s stock worth $109,000 after buying an additional 1,082 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Invesco PLC in the second quarter worth approximately $185,000. Global X Management Co. LLC grew its position in Invesco PLC by 29.4% in the first quarter. Global X Management Co. LLC now owns 5,582 shares of the asset manager’s stock worth $171,000 after buying an additional 1,267 shares during the last quarter. Gilbert & Cook Inc. acquired a new position in Invesco PLC in the second quarter worth approximately $203,000. Finally, Cornerstone Investment Partners LLC acquired a new position in Invesco PLC in the second quarter worth approximately $206,000. Hedge funds and other institutional investors own 79.79% of the company’s stock.
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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