Invacare Corp. (NYSE:IVC) – Investment analysts at KeyCorp dropped their FY2016 earnings estimates for Invacare Corp. in a report released on Wednesday. KeyCorp analyst M. Mishan now expects that the brokerage will post earnings per share of ($0.91) for the year, down from their previous forecast of ($0.89). KeyCorp currently has a “Buy” rating and a $17.00 price objective on the stock. KeyCorp also issued estimates for Invacare Corp.’s Q4 2016 earnings at ($0.13) EPS and FY2017 earnings at ($0.71) EPS.
Separately, Zacks Investment Research upgraded Invacare Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th.
Invacare Corp. (NYSE:IVC) opened at 11.9875 on Monday. Invacare Corp. has a 52-week low of $9.89 and a 52-week high of $20.41. The stock’s market cap is $389.22 million. The firm has a 50-day moving average price of $11.59 and a 200 day moving average price of $11.93.
Invacare Corp. (NYSE:IVC) last posted its quarterly earnings data 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 earned $275 million during the quarter, compared to analysts’ expectations of $270.10 million. During the same period in the prior year, the firm posted ($0.23) EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, October 13th will be paid a $0.0125 dividend. The ex-dividend date of this dividend is Tuesday, October 11th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.42%. Invacare Corp.’s dividend payout ratio (DPR) is currently -5.21%.
Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in Invacare Corp. by 108.2% in the second quarter. BNP Paribas Arbitrage SA now owns 9,371 shares of the company’s stock worth $114,000 after buying an additional 4,871 shares during the period. Rational Advisors LLC bought a new position in Invacare Corp. during the second quarter valued at $124,000. Profund Advisors LLC bought a new position in Invacare Corp. during the second quarter valued at $125,000. Thrivent Financial for Lutherans increased its position in Invacare Corp. by 7.6% in the second quarter. Thrivent Financial for Lutherans now owns 14,820 shares of the company’s stock valued at $180,000 after buying an additional 1,050 shares during the period. Finally, Arizona State Retirement System increased its position in Invacare Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 15,624 shares of the company’s stock valued at $190,000 after buying an additional 200 shares during the period.
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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