Brokerages predict that Eaton Vance Corporation (NYSE:EV) will post sales of $409.74 million for the current quarter, according to Zacks. Three analysts have made estimates for Eaton Vance Corporation’s earnings, with estimates ranging from $406.24 million to $412.59 million. Eaton Vance Corporation posted sales of $346.85 million during the same quarter last year, which would indicate a positive year over year growth rate of 18.1%. The company is expected to report its next earnings report before the market opens on Tuesday, November 21st.
On average, analysts expect that Eaton Vance Corporation will report full year sales of $409.74 million for the current financial year, with estimates ranging from $1.53 billion to $1.55 billion. For the next financial year, analysts expect that the business will report sales of $1.70 billion per share, with estimates ranging from $1.67 billion to $1.72 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Eaton Vance Corporation.
Eaton Vance Corporation (NYSE:EV) last posted its quarterly earnings data on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. The business had revenue of $393.70 million for the quarter, compared to analysts’ expectations of $398.74 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Eaton Vance Corporation’s revenue for the quarter was up 15.4% compared to the same quarter last year.
EV has been the subject of a number of research analyst reports. BidaskClub downgraded Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, November 2nd. J P Morgan Chase & Co upgraded Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 price objective for the company in a research report on Thursday, August 24th. Credit Suisse Group boosted their price objective on Eaton Vance Corporation from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, August 11th. Finally, Deutsche Bank AG assumed coverage on Eaton Vance Corporation in a research report on Tuesday, October 17th. They set a “buy” rating and a $57.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $52.06.
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In other news, Director Dorothy E. Puhy sold 6,495 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $49.38, for a total value of $320,723.10. Following the completion of the sale, the director now owns 18,775 shares in the company, valued at $927,109.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dorothy E. Puhy sold 5,953 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $51.08, for a total value of $304,079.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 596,037 shares of company stock valued at $29,808,641.
Several institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its position in shares of Eaton Vance Corporation by 17.6% during the third quarter. Janney Montgomery Scott LLC now owns 22,606 shares of the asset manager’s stock worth $1,116,000 after purchasing an additional 3,382 shares during the period. Cambria Investment Management L.P. raised its position in shares of Eaton Vance Corporation by 183.3% during the third quarter. Cambria Investment Management L.P. now owns 121,963 shares of the asset manager’s stock worth $6,021,000 after purchasing an additional 78,913 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Eaton Vance Corporation during the third quarter worth $760,000. Crestline Management LP acquired a new stake in shares of Eaton Vance Corporation during the third quarter worth $1,820,000. Finally, U S Global Investors Inc. acquired a new stake in shares of Eaton Vance Corporation during the third quarter worth $1,358,000. 69.49% of the stock is currently owned by institutional investors.
Eaton Vance Corporation (NYSE:EV) traded up $0.29 during mid-day trading on Friday, reaching $51.79. The company’s stock had a trading volume of 407,402 shares, compared to its average volume of 501,289. The company has a quick ratio of 5.74, a current ratio of 5.74 and a debt-to-equity ratio of 0.69. Eaton Vance Corporation has a 52 week low of $38.98 and a 52 week high of $52.36. The stock has a market cap of $6,016.09, a P/E ratio of 22.13, a PEG ratio of 0.99 and a beta of 1.86.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were issued a $0.31 dividend. This is a positive change from Eaton Vance Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, October 30th. This represents a $1.24 annualized dividend and a dividend yield of 2.39%. Eaton Vance Corporation’s dividend payout ratio is 53.91%.
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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