ValuEngine upgraded shares of Eaton Vance (NYSE:EV) from a hold rating to a buy rating in a research note issued to investors on Sunday, December 31st.
Several other equities analysts also recently weighed in on EV. Deutsche Bank initiated coverage on Eaton Vance in a research report on Tuesday, October 17th. They set a buy rating and a $57.00 target price on the stock. Bank of America boosted their price objective on Eaton Vance from $49.00 to $51.00 and gave the company a neutral rating in a research report on Tuesday, October 31st. Jefferies Group restated a hold rating and issued a $46.00 price objective on shares of Eaton Vance in a research report on Thursday, October 26th. Zacks Investment Research downgraded Eaton Vance from a hold rating to a sell rating in a research report on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $53.00 price objective on shares of Eaton Vance in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $52.06.
Eaton Vance (NYSE:EV) opened at $60.45 on Friday. The firm has a market capitalization of $7,160.00, a price-to-earnings ratio of 24.98, a P/E/G ratio of 0.91 and a beta of 1.90. The company has a current ratio of 5.44, a quick ratio of 5.44 and a debt-to-equity ratio of 0.62. Eaton Vance has a 52-week low of $41.40 and a 52-week high of $60.85.
Eaton Vance (NYSE:EV) last released its earnings results on Tuesday, November 21st. The asset manager reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The company had revenue of $405.70 million for the quarter, compared to analysts’ expectations of $407.75 million. Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. Eaton Vance’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share. equities analysts anticipate that Eaton Vance will post 3.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.05%. Eaton Vance’s dividend payout ratio is currently 51.24%.
In other Eaton Vance news, insider Payson F. Swaffield sold 71,739 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $51.81, for a total transaction of $3,716,797.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dorothy E. Puhy sold 5,953 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was 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. Insiders sold 101,832 shares of company stock worth $5,260,707 over the last quarter.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Leavell Investment Management Inc. increased its stake in Eaton Vance by 8.3% during the fourth quarter. Leavell Investment Management Inc. now owns 13,000 shares of the asset manager’s stock worth $733,000 after acquiring an additional 1,000 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Eaton Vance during the third quarter worth approximately $649,000. Public Employees Retirement System of Ohio increased its stake in Eaton Vance by 25.5% during the third quarter. Public Employees Retirement System of Ohio now owns 67,347 shares of the asset manager’s stock worth $3,325,000 after acquiring an additional 13,675 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Eaton Vance 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 acquiring an additional 3,382 shares during the last quarter. Finally, Cambria Investment Management L.P. increased its stake in Eaton Vance 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 acquiring an additional 78,913 shares during the last quarter. 68.73% of the stock is currently owned by institutional investors.
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About Eaton Vance
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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