Asset management firm Invesco (NYSE: IVZ) will be reporting results this Tuesday before the bell. Here’s what to look for.
Invesco beat analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $1.10 billion, up 1.7% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and .
Is Invesco a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Invesco’s revenue to grow 7% year on year to $1.18 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.44 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Invesco has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Invesco’s peers in the custody bank segment, some have already reported their Q3 results, giving us a hint as to what we can expect. BNY delivered year-on-year revenue growth of 9.1%, beating analysts’ expectations by 2.1%, and State Street reported revenues up 8.8%, topping estimates by 2.3%. BNY traded down 2.8% following the results while State Street was up 2%.
Read our full analysis of BNY’s results here and State Street’s results here.
Investors in the custody bank segment have had fairly steady hands going into earnings, with share prices down 1% on average over the last month. Invesco’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $25.27 (compared to the current share price of $23.07).
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