Eaton Vance Corp (EV) Receives $36.58 Average Price Target from Brokerages
Eaton Vance Corp (NYSE:EV) has been assigned an average recommendation of “Hold” from the ten ratings firms that are covering the firm. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $36.58.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Eaton Vance Corp from a “sell” rating to a “hold” rating in a report on Thursday, December 8th. Jefferies Group LLC restated a “hold” rating and issued a $37.00 target price on shares of Eaton Vance Corp in a report on Wednesday, November 23rd. Bank of America Corp upgraded shares of Eaton Vance Corp from an “underperform” rating to a “neutral” rating in a report on Tuesday, February 21st. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Eaton Vance Corp in a report on Thursday, January 12th.
Eaton Vance Corp (NYSE:EV) opened at 45.52 on Tuesday. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 21.17 and a beta of 1.79. Eaton Vance Corp has a 12 month low of $31.78 and a 12 month high of $47.83. The company has a 50 day moving average of $44.82 and a 200 day moving average of $41.15.
Eaton Vance Corp (NYSE:EV) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.57 by $0.04. Eaton Vance Corp had a return on equity of 38.30% and a net margin of 17.97%. The business earned $354.95 million during the quarter, compared to the consensus estimate of $351.22 million. During the same period in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Eaton Vance Corp will post $2.46 EPS for the current year.
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In related news, insider Frederick S. Marius sold 47,235 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $42.72, for a total value of $2,017,879.20. Following the transaction, the insider now owns 64,385 shares in the company, valued at $2,750,527.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Frederick S. Marius sold 45,893 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $43.71, for a total transaction of $2,005,983.03. Following the completion of the transaction, the insider now owns 35,042 shares in the company, valued at approximately $1,531,685.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,213 shares of company stock worth $7,625,223.
A number of institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its position in shares of Eaton Vance Corp by 44.4% in the third quarter. Acrospire Investment Management LLC now owns 2,600 shares of the company’s stock valued at $102,000 after buying an additional 800 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Eaton Vance Corp during the fourth quarter valued at $188,000. Bank of Montreal Can raised its position in shares of Eaton Vance Corp by 4.8% in the third quarter. Bank of Montreal Can now owns 5,211 shares of the company’s stock valued at $203,000 after buying an additional 239 shares in the last quarter. Twin Focus Capital Partners LLC bought a new position in shares of Eaton Vance Corp during the fourth quarter valued at $209,000. Finally, Biegel & Waller LLC bought a new position in shares of Eaton Vance Corp during the fourth quarter valued at $217,000. Institutional investors and hedge funds own 70.25% of the company’s stock.
Eaton Vance Corp Company Profile
Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.
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