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Atlanta, Georgia-based Invesco Ltd. (IVZ) is an independent investment manager and offers a wide range of investment products and services. Valued at $7.09 billion by market cap, the company provides a wide range of active, passive, and alternative investment products and services. With operations in over 20 countries, the company managed $1.7 trillion in assets as of March 31, 2024. The leading investment management firm is expected to announce its fiscal second-quarter earnings for 2024 before the market opens on Tuesday, Jul. 23.
Ahead of the event, analysts expect IVZ to report a profit of $0.41 per share on a diluted basis, up 32.3% from $0.31 per share in the year-ago quarter. The company missed the consensus estimates in three of the last four quarters while surpassing on another occasion. IVZ’s net long-term inflows during the previous quarter were $6.3 billion, driven by ETFs and Index, Fundamental Fixed Income, and Private Markets.
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) 18.1% gains on a YTD basis, with shares down 11.6% during this period. Similarly, it has underperformed the S&P 500 Financials Sector SPDR’s (XLF) 11.5% gains over the same time frame.
On Jul. 10, IVZ shares closed up more than 3% after the company reported that total assets under management at the end of June 30, 2024, were $1.72 trillion, up 1.7% over the previous month and 11.5% year over year. The net long-term inflows were $6.5 billion during the month, non-management fee-earning net inflows stood at $0.2 billion, and money market net outflows were $1.9 billion.
On Apr. 23, IVZ shares closed down more than 5% after the company reported its Q1 results. Its adjusted net revenue of $1.05 billion was weaker than the consensus estimates of $1.08 billion, and its adjusted EPS of $0.33 fell short of Wall Street estimates of $0.40. The company’s adjusted operating margin stood at 28.2%. Ending AUM stood at $1.66 trillion, representing an increase of 12.1% year over year.
Analysts’ consensus opinion on IVZ stock is cautious, with a “Hold” rating overall. Out of 15 analysts covering the stock, two advise a “Strong Buy” rating, and 13 have a “Hold.” The average analyst price target for IVZ is $16.93, indicating a 7.4% potential upside from the current levels.
On the date of publication, Dipanjan Banchur 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.
