KeyCorp Analysts Cut Earnings Estimates for Invacare Co. (IVC)

Invacare Co. (NYSE:IVC) – Research analysts at KeyCorp decreased their FY2017 earnings per share estimates for Invacare in a report issued on Wednesday. KeyCorp analyst M. Mishan now anticipates that the health services provider will post earnings per share of ($1.96) for the year, down from their previous forecast of ($1.93). KeyCorp has a “Buy” rating and a $20.00 price target on the stock.

Invacare (NYSE:IVC) last released its earnings results on Tuesday, November 7th. The health services provider reported ($0.41) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.02. The firm had revenue of $250.91 million for the quarter, compared to analyst estimates of $239.88 million. Invacare had a negative return on equity of 13.33% and a negative net margin of 7.95%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.37) EPS.

A number of other analysts have also issued reports on the company. ValuEngine raised Invacare from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research lowered Invacare from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Shares of Invacare (NYSE:IVC) opened at $17.25 on Monday. The stock has a market capitalization of $662.65, a P/E ratio of -7.34 and a beta of 2.45. The company has a quick ratio of 1.57, a current ratio of 2.28 and a debt-to-equity ratio of 0.55. Invacare has a fifty-two week low of $9.90 and a fifty-two week high of $17.95.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Thursday, January 4th were given a $0.0125 dividend. The ex-dividend date was Wednesday, January 3rd. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.29%. Invacare’s dividend payout ratio is currently -2.13%.

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in shares of Invacare by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,974 shares of the health services provider’s stock worth $343,000 after acquiring an additional 119 shares during the period. Rhumbline Advisers lifted its position in shares of Invacare by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 65,330 shares of the health services provider’s stock worth $862,000 after acquiring an additional 442 shares during the period. Thrivent Financial For Lutherans lifted its position in shares of Invacare by 7.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 19,470 shares of the health services provider’s stock worth $257,000 after acquiring an additional 1,390 shares during the period. Voya Investment Management LLC lifted its position in shares of Invacare by 10.5% in the 2nd quarter. Voya Investment Management LLC now owns 17,271 shares of the health services provider’s stock worth $228,000 after acquiring an additional 1,648 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Invacare by 0.9% in the 2nd quarter. Principal Financial Group Inc. now owns 254,554 shares of the health services provider’s stock worth $3,360,000 after acquiring an additional 2,295 shares during the period.

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About Invacare

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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