Zacks: Brokerages Anticipate Envestnet Inc (ENV) to Announce $0.37 EPS
Equities analysts expect Envestnet Inc (NYSE:ENV) to report $0.37 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Envestnet’s earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.37. Envestnet reported earnings of $0.25 per share during the same quarter last year, which would indicate a positive year over year growth rate of 48%. The business is expected to issue its next earnings report on Wednesday, May 9th.
On average, analysts expect that Envestnet will report full year earnings of $1.83 per share for the current fiscal year, with EPS estimates ranging from $1.81 to $1.92. For the next year, analysts expect that the firm will post earnings of $2.23 per share, with EPS estimates ranging from $2.15 to $2.34. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Envestnet.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $182.86 million for the quarter, compared to analyst estimates of $179.20 million. Envestnet had a negative net margin of 0.48% and a positive return on equity of 9.93%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS.
Envestnet (NYSE:ENV) traded up $1.35 during mid-day trading on Friday, hitting $59.30. 168,533 shares of the stock traded hands, compared to its average volume of 252,030. The stock has a market cap of $2,623.11, a price-to-earnings ratio of -591.94, a PEG ratio of 2.95 and a beta of 1.86. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. Envestnet has a 1 year low of $30.80 and a 1 year high of $59.70.
In other Envestnet news, CFO Peter D’arrigo sold 23,437 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $49.87, for a total value of $1,168,803.19. Following the sale, the chief financial officer now owns 51,436 shares of the company’s stock, valued at $2,565,113.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shelly O’brien sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $50.00, for a total value of $150,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,896 shares of company stock worth $4,365,785. Corporate insiders own 5.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in Envestnet by 1.0% in the fourth quarter. BlackRock Inc. now owns 2,699,362 shares of the business services provider’s stock valued at $134,564,000 after purchasing an additional 27,689 shares during the period. Stephens Investment Management Group LLC raised its position in Envestnet by 6.3% in the third quarter. Stephens Investment Management Group LLC now owns 1,434,756 shares of the business services provider’s stock valued at $73,173,000 after purchasing an additional 85,642 shares during the period. Brown Advisory Inc. raised its position in Envestnet by 4.9% in the third quarter. Brown Advisory Inc. now owns 885,250 shares of the business services provider’s stock valued at $45,148,000 after purchasing an additional 41,176 shares during the period. State Street Corp raised its position in Envestnet by 7.1% in the second quarter. State Street Corp now owns 794,155 shares of the business services provider’s stock valued at $31,449,000 after purchasing an additional 52,546 shares during the period. Finally, OppenheimerFunds Inc. raised its position in Envestnet by 1.7% in the fourth quarter. OppenheimerFunds Inc. now owns 609,122 shares of the business services provider’s stock valued at $30,365,000 after purchasing an additional 10,476 shares during the period. 93.21% of the stock is currently owned by institutional investors.
Envestnet Company Profile
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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