Invacare Corporation (IVC) Issues Earnings Results, Misses Expectations By $0.21 EPS

Invacare Corporation (NYSE:IVC) announced its quarterly earnings data on Monday, August 7th. The health services provider reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by $0.21, Bloomberg Earnings reports. Invacare Corporation had a negative return on equity of 12.79% and a negative net margin of 6.42%. The firm had revenue of $233.50 million for the quarter, compared to the consensus estimate of $243.03 million. During the same quarter last year, the business earned ($0.33) earnings per share. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year.

Invacare Corporation (NYSE IVC) traded up 0.67% during midday trading on Friday, reaching $13.45. The company’s stock had a trading volume of 197,344 shares. The firm’s market capitalization is $442.10 million. Invacare Corporation has a 1-year low of $8.00 and a 1-year high of $16.65. The firm has a 50 day moving average price of $13.96 and a 200 day moving average price of $12.94.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, October 5th will be paid a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.37%. Invacare Corporation’s payout ratio is -2.59%.

Several brokerages recently issued reports on IVC. Sidoti restated a “neutral” rating and set a $12.00 price objective (down from $14.00) on shares of Invacare Corporation in a research note on Monday, June 12th. Stephens upgraded Invacare Corporation from an “equal weight” rating to an “overweight” rating in a research note on Friday, April 28th. Zacks Investment Research cut Invacare Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. BidaskClub cut Invacare Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, ValuEngine upgraded Invacare Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Invacare Corporation currently has an average rating of “Hold” and a consensus target price of $14.50.

COPYRIGHT VIOLATION WARNING: This story was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another site, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this story can be viewed at https://www.com-unik.info/2017/08/19/invacare-corporation-ivc-issues-quarterly-earnings-results-updated.html.

A number of hedge funds have recently made changes to their positions in IVC. Municipal Employees Retirement System of Michigan raised its stake in shares of Invacare Corporation by 4.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,580 shares of the health services provider’s stock valued at $100,000 after buying an additional 310 shares in the last quarter. 1st Global Advisors Inc. acquired a new position in Invacare Corporation during the second quarter worth approximately $138,000. Louisiana State Employees Retirement System raised its position in Invacare Corporation by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the health services provider’s stock worth $154,000 after buying an additional 100 shares in the last quarter. Leucadia National Corp acquired a new position in Invacare Corporation during the second quarter worth approximately $161,000. Finally, BNP Paribas Arbitrage SA raised its position in Invacare Corporation by 39.8% in the second quarter. BNP Paribas Arbitrage SA now owns 14,646 shares of the health services provider’s stock worth $193,000 after buying an additional 4,166 shares in the last quarter.

About Invacare Corporation

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.

Earnings History for Invacare Corporation (NYSE:IVC)

What are top analysts saying about Invacare Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Invacare Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit