Shares of Invacare Corp. (NYSE:IVC) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus price objective of $17.00 for the company and are forecasting that the company will post ($0.20) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Invacare Corp. an industry rank of 82 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research downgraded Invacare Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 2nd.
Institutional investors have recently added to or reduced their stakes in the company. Brandes Investment Partners LP increased its position in Invacare Corp. by 754.3% in the second quarter. Brandes Investment Partners LP now owns 951,052 shares of the company’s stock valued at $11,536,000 after buying an additional 839,722 shares during the period. Emerald Acquisition Ltd. acquired a new position in Invacare Corp. during the second quarter valued at $6,796,000. JPMorgan Chase & Co. increased its position in Invacare Corp. by 276.3% in the second quarter. JPMorgan Chase & Co. now owns 761,713 shares of the company’s stock valued at $9,240,000 after buying an additional 559,308 shares during the period. Franklin Resources Inc. increased its position in Invacare Corp. by 16.9% in the first quarter. Franklin Resources Inc. now owns 2,494,237 shares of the company’s stock valued at $32,849,000 after buying an additional 360,000 shares during the period. Finally, Renaissance Technologies LLC increased its position in Invacare Corp. by 208.5% in the first quarter. Renaissance Technologies LLC now owns 344,000 shares of the company’s stock valued at $4,530,000 after buying an additional 232,500 shares during the period. Hedge funds and other institutional investors own 90.80% of the company’s stock.
Shares of Invacare Corp. (NYSE:IVC) traded down 0.81% during trading on Friday, hitting $10.97. The stock had a trading volume of 106,433 shares. Invacare Corp. has a 12-month low of $9.89 and a 12-month high of $20.41. The stock has a 50-day moving average of $11.81 and a 200 day moving average of $12.07. The firm’s market cap is $356.18 million.
Invacare Corp. (NYSE:IVC) last released its earnings results on Thursday, July 28th. The company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.09. Invacare Corp. had a negative return on equity of 5.16% and a negative net margin of 2.81%. The business had revenue of $275 million for the quarter, compared to analysts’ expectations of $270.10 million. During the same quarter last year, the company posted ($0.23) earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts predict that Invacare Corp. will post ($0.95) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, October 13th will be given a dividend of $0.0125 per share. The ex-dividend date is Tuesday, October 11th. This represents a $0.05 annualized dividend and a yield of 0.45%. Invacare Corp.’s dividend payout ratio (DPR) is presently -5.21%.
About Invacare Corp.
Invacare Corporation is a manufacturer and distributor for medical equipment used in non-acute care settings. The Company’s geographical segments are Europe; North America, which includes North America/Home Medical Equipment (North America/HME) and Institutional Products Group (IPG) segments, and Asia/Pacific.
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