Zacks: Brokerages Expect Eaton Vance Corporation (EV) to Post $0.71 EPS
Equities research analysts expect Eaton Vance Corporation (NYSE:EV) to announce earnings per share (EPS) of $0.71 for the current quarter, Zacks reports. Three analysts have made estimates for Eaton Vance Corporation’s earnings, with the lowest EPS estimate coming in at $0.70 and the highest estimate coming in at $0.72. Eaton Vance Corporation posted earnings per share of $0.57 during the same quarter last year, which suggests a positive year over year growth rate of 24.6%. The business is scheduled to announce its next earnings results on Tuesday, November 28th.
On average, analysts expect that Eaton Vance Corporation will report full-year earnings of $2.48 per share for the current fiscal year, with EPS estimates ranging from $2.43 to $2.52. For the next year, analysts anticipate that the business will post earnings of $2.95 per share, with EPS estimates ranging from $2.93 to $3.01. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Eaton Vance Corporation.
Eaton Vance Corporation (NYSE:EV) last released its quarterly earnings data on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.05. The firm had revenue of $393.70 million for the quarter, compared to the consensus estimate of $398.74 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 earnings per share.
Several equities analysts have recently issued reports on the stock. Jefferies Group LLC restated a “hold” rating and set a $46.00 price objective on shares of Eaton Vance Corporation in a report on Friday, August 18th. Zacks Investment Research downgraded shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub downgraded shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. J P Morgan Chase & Co restated an “underweight” rating and set a $47.00 price objective (up previously from $40.00) on shares of Eaton Vance Corporation in a report on Tuesday, June 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $50.00 price target on shares of Eaton Vance Corporation in a report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Eaton Vance Corporation presently has a consensus rating of “Hold” and a consensus price target of $50.21.
In other Eaton Vance Corporation news, CEO Matthew J. Witkos sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $48.08, for a total value of $1,923,200.00. Following the sale, the chief executive officer now owns 243,688 shares in the company, valued at approximately $11,716,519.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dorothy E. Puhy sold 2,563 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $48.46, for a total value of $124,202.98. Following the completion of the sale, the director now owns 14,473 shares in the company, valued at approximately $701,361.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,858 shares of company stock worth $6,573,557.
A number of institutional investors have recently added to or reduced their stakes in EV. WFG Advisors LP boosted its position in Eaton Vance Corporation by 0.6% in the 2nd quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock worth $111,000 after purchasing an additional 14 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in Eaton Vance Corporation by 88.8% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,705 shares of the asset manager’s stock worth $122,000 after purchasing an additional 1,272 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Eaton Vance Corporation by 5.1% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the asset manager’s stock worth $127,000 after purchasing an additional 148 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Eaton Vance Corporation by 20.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,901 shares of the asset manager’s stock worth $130,000 after purchasing an additional 501 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Eaton Vance Corporation by 131.9% in the 1st quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock worth $150,000 after purchasing an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 68.91% of the company’s stock.
Eaton Vance Corporation (NYSE:EV) traded down 0.34% during mid-day trading on Friday, reaching $47.42. 290,100 shares of the company’s stock were exchanged. The firm has a market capitalization of $5.28 billion, a P/E ratio of 20.62 and a beta of 1.85. The company’s 50-day moving average is $47.96 and its 200 day moving average is $46.30. Eaton Vance Corporation has a one year low of $34.44 and a one year high of $50.10.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.12 annualized dividend and a yield of 2.36%. Eaton Vance Corporation’s dividend payout ratio (DPR) is presently 48.70%.
Eaton Vance Corporation 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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