On Sep 9, 2014, we issued an updated research report on Invesco Ltd. (IVZ). This Atlanta, GA-based investment management firm remains focused on improving its top line.
Invesco reported second-quarter 2014 adjusted earnings of 65 cents per share on Jul 31, beating the Zacks Consensus Estimate by 12.1%. Also, the reported figure compared favorably with 50 cents earned in the prior-year quarter.
Results were aided by higher revenues, which were, however, partly offset by rising expenses. Further, the company boasted a strong asset under management (AUM) and balance sheet position during the quarter. Adjusted net revenue came in at $901.0 million, increasing 14% from the prior-year quarter. The rise was attributable to an increase in investment management fees, other revenues and third-party distribution, service and advisory revenues, partly offset by a fall in performance fees and service & distribution fees.
The Zacks Consensus Estimate for 2014 has remained unchanged over the past 30 days. However, the Zacks Consensus Estimate for 2015 inched up 1.4% to $2.89 per share over the same time frame.
Invesco currently carries a Zacks Rank #2 (Buy).
Some better-ranked investment managers include AllianceBernstein Holding L.P. (AB), Monroe Capital Corp. (MRCC) and SEI Investments Co. (SEIC). All these stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment