Invesco (NYSE:IVZ) issued its earnings results on Thursday. The asset manager reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66, MarketWatch Earnings reports. Invesco had a net margin of 21.64% and a return on equity of 12.70%. The company had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $972.49 million. During the same period last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year.
Shares of IVZ stock opened at $21.01 on Friday. Invesco has a 52 week low of $19.66 and a 52 week high of $38.43. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $8.60 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.64.
A number of brokerages have issued reports on IVZ. Credit Suisse Group reaffirmed a “neutral” rating on shares of Invesco in a report on Friday. Royal Bank of Canada reaffirmed a “positive” rating and issued a $30.00 target price on shares of Invesco in a report on Friday. Zacks Investment Research raised shares of Invesco from a “sell” rating to a “hold” rating in a report on Tuesday. Deutsche Bank dropped their target price on shares of Invesco from $30.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, October 11th. Finally, Morgan Stanley dropped their target price on shares of Invesco from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.54.
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.
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