Nomura Securities Maintains a 'Buy' on Invesco (IVZ); Review of 1Q Results
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Price: $15.27 +0.20%
Rating Summary:
8 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
8 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Nomura Securities maintains a 'Buy' on Invesco (NYSE: IVZ)
Nomura analyst, Glenn Schorr, said, "IVZ reported EPS of $0.41 versus our/street estimates of $0.43/$0.42. All in, we think results were fine, but the bottom-line number came in a little bit below our expectations. IVZ had $6.6 billion of net LT flows, and while this was concentrated in low fee products, the incremental margin on these products is attractive. Expenses were held in check, and all things related to the MS Retail/Van Kampen merger seem on plan. Overall performance remains solid, and shareholders saw continued capital returns. The stock is not expensive (less than 14x our 2011E EPS), but we don’t think 1Q11 results were strong enough to be a near-term catalyst."
For more ratings news on Invesco click here and for the rating history of Invesco click here.
Shares of Invesco closed at $24.82 yesterday.
Nomura analyst, Glenn Schorr, said, "IVZ reported EPS of $0.41 versus our/street estimates of $0.43/$0.42. All in, we think results were fine, but the bottom-line number came in a little bit below our expectations. IVZ had $6.6 billion of net LT flows, and while this was concentrated in low fee products, the incremental margin on these products is attractive. Expenses were held in check, and all things related to the MS Retail/Van Kampen merger seem on plan. Overall performance remains solid, and shareholders saw continued capital returns. The stock is not expensive (less than 14x our 2011E EPS), but we don’t think 1Q11 results were strong enough to be a near-term catalyst."
For more ratings news on Invesco click here and for the rating history of Invesco click here.
Shares of Invesco closed at $24.82 yesterday.
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