Invesco Ltd. (NYSE:IVZ) receieved a negative analyst call from Barclays, which downgraded the stock from Overweight to Equal Weight on January 31. Analysts at Deutsche Bank, shed their positive views on January 11 by lowering it fromBuy to Hold. The stock lost favor of Evercore ISI analysts who expressed their lack of confidence in it using a downgrade from Outperform to In-line on January 08.
Invesco Ltd. (IVZ) grew as high as $18.885 on Wednesday before closing at $18.58. The -0.75 percent plunge dragged its market cap to $7.55B. The shares went down as low as $18.54 before recovering. Trading activity significantly weakened as the volume at ready counter decreased to 4,086,557 shares versus 5,095,915 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 5,042,612 shares. The stock is now 20.81% above against its bear-market low of $15.38 on December 26, 2018. It has retreated -88.54% since it’s 52-week high of $35.03 reached in March. Now the market price is down -43.99% on the year and up 10.99% YTD.
IVZ’s 50 day simple moving average (SMA 50) price is $18.11 and its 200-day simple moving average (SMA 200) price is $23.32. The company’s stock currently has a total float of 405.21M shares. Its weekly volatility is hovering around 2.13% and felt 2.67% volatility in price over a month. On the upside, the share price will test short term resistance at around $18.8. On a downside, the stock is likely to find some support, which begins at $18.45. The failure to get near-term support could push it to $18.32.
Separately, it has been reported that multiple insider activity took place at Invesco Ltd. (IVZ). President & CEO Flanagan Martin L sold 422,860 shares for $675,970 in transaction occurred on 2018/03/15. After making this transaction, the President & CEO owns a direct stake of 14,005,123 shares, worth $12,559,523, as per the last closing price. On 2018/03/09 Lege Annette, Chief Accounting Officer at IVZ, dumped 5,000 shares at an average price of $34.31 per share. The selling total is valued at $1,074,537.
Director, Beshar Sarah had invested in 2,970 shares for $8,837 through a trade on 2018/02/27. Following this activity, the insider holds 98,960 shares worth $164,192 as of recent close. Wall Street’s most bullish Invesco Ltd. (NYSE:IVZ) analysts are predicting the share price to blow past $24 per share during the next 12 months. The current median share price forecast by them is $19, suggesting that the stock could increase 2.26% in that time frame. The average price target of $19.46 calls for a nearly 4.74% increase in the stock price.
When looking at valuations, Invesco Ltd. (IVZ) has a cheap P/E of 7.33x as compared to industry average of 229.55x. Moreover, it trades for 7.95 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.86x price/book and 1.39x price/sales. Compared to others, Invesco Ltd. is in a different league with regards to profitability, having net margins of 21.7%. To put some perspective around this, the industry’s average net margin is 153.43%. IVZ’s ROE is 13.3%, which is also considerably better than the industry’s ROE of 12.77%.
Shares of Invesco Ltd. (IVZ) have dropped -1.8% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, Invesco Ltd. (NYSE:IVZ) has topped consensus earnings estimates in 6 quarters (50%), missed earnings in 4 quarters (33%), whereas at 2 occasion EPS met analyst expectations. IVZ last reported earnings on January 30, 2019 when it released Sep-18 results that receded expectations. The company raked in $0.66 per share, 11.86% change on the same period last year. That was worse than consensus for $0.66. Revenue for the recent quarter stood at $966.9 million, down -1% on last year and below the $979.64 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $945.6 million to $1.04 billion, which should be compared with $1.06 billion generated last year. EPS is seen in a range of $0.61 to $0.72, against the $0.79 reported a year ago.