Eaton Vance Corporation (EV) Receives $49.58 Consensus Price Target from Analysts
Shares of Eaton Vance Corporation (NYSE:EV) have earned a consensus rating of “Hold” from the eight research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $49.58.
A number of research firms recently commented on EV. J P Morgan Chase & Co restated an “underweight” rating and set a $47.00 price target (up from $40.00) on shares of Eaton Vance Corporation in a research report on Tuesday, June 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 price target on shares of Eaton Vance Corporation in a research report on Tuesday, May 23rd. Zacks Investment Research lowered Eaton Vance Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Credit Suisse Group increased their price target on Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, August 11th. Finally, Citigroup Inc. increased their price target on Eaton Vance Corporation from $46.50 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th.
In other Eaton Vance Corporation news, CEO Matthew J. Witkos sold 24,152 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $47.65, for a total value of $1,150,842.80. Following the transaction, the chief executive officer now directly owns 231,477 shares in the company, valued at approximately $11,029,879.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Beale sold 39,343 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $48.30, for a total value of $1,900,266.90. Following the completion of the transaction, the insider now owns 343,509 shares in the company, valued at $16,591,484.70. The disclosure for this sale can be found here. Insiders sold a total of 72,410 shares of company stock worth $3,475,018 over the last quarter.
Institutional investors and hedge funds have recently made changes to their positions in the business. 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 valued at $111,000 after buying an additional 14 shares during 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 valued at $130,000 after buying an additional 501 shares during the last quarter. 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 valued at $150,000 after buying an additional 1,900 shares during the last quarter. Pacad Investment Ltd. bought a new position in Eaton Vance Corporation in the 2nd quarter valued at $166,000. Finally, Neuburgh Advisers LLC boosted its position in Eaton Vance Corporation by 25.8% in the 1st quarter. Neuburgh Advisers LLC now owns 3,744 shares of the asset manager’s stock valued at $168,000 after buying an additional 768 shares during the last quarter. Hedge funds and other institutional investors own 68.91% of the company’s stock.
Shares of Eaton Vance Corporation (EV) traded up 0.99% on Friday, reaching $47.04. The company’s stock had a trading volume of 512,268 shares. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 20.45 and a beta of 1.85. The stock has a 50-day moving average of $47.56 and a 200 day moving average of $46.38. Eaton Vance Corporation has a 52 week low of $34.44 and a 52 week high of $50.10.
Eaton Vance Corporation (NYSE:EV) last released its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.05). The business had revenue of $393.70 million for the quarter, compared to the consensus estimate of $398.74 million. Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. On average, analysts expect that Eaton Vance Corporation will post $2.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were given a $0.28 dividend. The ex-dividend date was Thursday, July 27th. This represents a $1.12 dividend on an annualized basis and a yield of 2.38%. Eaton Vance Corporation’s payout ratio is 48.70%.
About Eaton Vance Corporation
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.
Receive News & Stock Ratings for Eaton Vance Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Vance Corporation and related stocks with our FREE daily email newsletter.