Invacare Co. (NYSE:IVC) announced a quarterly dividend on Thursday, May 17th, RTT News reports. Stockholders of record on Friday, July 6th will be given a dividend of 0.0125 per share by the health services provider on Friday, July 20th. This represents a $0.05 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Thursday, July 5th.
Invacare has a dividend payout ratio of -2.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Invacare to earn ($0.24) per share next year, which means the company may not be able to cover its $0.05 annual dividend with an expected future payout ratio of -20.8%.
Invacare opened at $18.60 on Friday, MarketBeat.com reports. Invacare has a fifty-two week low of $12.30 and a fifty-two week high of $20.00. The company has a current ratio of 2.10, a quick ratio of 1.48 and a debt-to-equity ratio of 0.58.
Invacare (NYSE:IVC) last posted its earnings results on Monday, May 7th. The health services provider reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.03. Invacare had a negative return on equity of 13.88% and a negative net margin of 7.60%. The business had revenue of $237.06 million during the quarter, compared to the consensus estimate of $234.08 million. During the same period in the previous year, the business earned ($0.47) EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. equities analysts anticipate that Invacare will post -1.02 EPS for the current fiscal year.
In other Invacare news, Director C Martin Harris sold 2,582 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $16.38, for a total transaction of $42,293.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Anthony Laplaca sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $19.59, for a total value of $391,800.00. Following the sale, the vice president now directly owns 64,385 shares of the company’s stock, valued at $1,261,302.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,582 shares of company stock valued at $512,693. 2.10% of the stock is owned by company insiders.
Several analysts have recently weighed in on IVC shares. Zacks Investment Research raised Invacare from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Saturday, May 12th. ValuEngine raised Invacare from a “hold” rating to a “buy” rating in a report on Saturday, April 7th. KeyCorp reduced their target price on Invacare from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, May 9th. Finally, UBS Group raised Invacare from a “sell” rating to a “neutral” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.50.
Invacare Company Profile
Invacare Corporation, together with its subsidiaries, designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets worldwide. The company operates through four segments: North America/Home Medical Equipment, Institutional Products Group, Europe, and the Asia/Pacific.
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