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Invesco Ltd. (IVZ), based in Atlanta, Georgia, is an independent investment manager with a market cap of $7.9 billion. The firm offers a diverse array of active, passive, and alternative investment products and services and operates in over 20 countries. The leading investment management firm is expected to announce its fiscal third-quarter earnings for 2024 before the market opens on Tuesday, Oct. 22.
Ahead of the event, analysts expect IVZ to report a profit of $0.43 per share on a diluted basis, up 22.9% from $0.35 per share in the year-ago quarter. The company missed the consensus estimates in two of the last four quarters while surpassing on two other occasions.
Its EPS of $0.43 surpassed the consensus estimate by 7.5% in the recent quarter, driven by a decrease in adjusted expenses and an increase in assets under management due to positive inflows.
For fiscal 2024, analysts expect IVZ to report EPS of $1.65, up 9.3% from $1.51 in fiscal 2023.
IVZ stock has significantly underperformed the S&P 500’s ($SPX) 19.7% gains on a YTD basis, with its shares down 3.3% during this period. The stock has also struggled to keep up with the Financial Select Sector SPDR Fund’s (XLF) 19.9% returns over the same time frame.
Despite its underwhelming market performance this year, the stock rose 1.9% on Jul. 29, following its Q2 earnings release, as its bottom line surpassed the market expectations while its revenue met the analysts’ projections.
Analysts’ consensus opinion on IVZ stock is cautious, with a “Hold” rating overall. Out of 16 analysts covering the stock, one advises a “Strong Buy” rating, 14 have a “Hold,” and the remaining analyst suggests a “Strong Sell.” The average analyst price target for IVZ is $17.32, indicating a marginal potential upside from the current levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
