Eaton Vance Corp (NYSE:EV) – Analysts at Jefferies Group raised their Q4 2018 EPS estimates for Eaton Vance in a research report issued on Wednesday, Zacks Investment Research reports. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings of $0.93 per share for the quarter, up from their previous forecast of $0.76. Jefferies Group currently has a “Hold” rating and a $46.00 target price on the stock.
Several other research firms also recently issued reports on EV. Bank of America boosted their price objective on shares of Eaton Vance from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. ValuEngine upgraded shares of Eaton Vance from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded shares of Eaton Vance from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Deutsche Bank started coverage on shares of Eaton Vance in a research note on Tuesday, October 17th. They issued a “buy” rating and a $57.00 target price for the company. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $53.00 target price on shares of Eaton Vance in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Eaton Vance presently has an average rating of “Hold” and a consensus target price of $52.06.
Eaton Vance (NYSE EV) traded down $0.65 on Thursday, reaching $59.90. 857,853 shares of the company’s stock traded hands, compared to its average volume of 659,475. 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 12 month low of $41.40 and a 12 month high of $60.87. The stock has a market capitalization of $7,100.00, a P/E ratio of 24.75, a P/E/G ratio of 0.90 and a beta of 1.90.
Eaton Vance (NYSE:EV) last released its quarterly earnings data on Tuesday, November 21st. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). Eaton Vance had a return on equity of 33.45% and a net margin of 18.45%. The business had revenue of $405.70 million for the quarter, compared to analysts’ expectations of $407.75 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Eaton Vance’s quarterly revenue was up 17.0% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a $0.31 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.24 annualized dividend and a dividend yield of 2.07%. Eaton Vance’s dividend payout ratio (DPR) is presently 51.24%.
In related news, Director Dorothy E. Puhy sold 9,490 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $60.49, for a total value of $574,050.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 transaction of $304,079.24. The disclosure for this sale can be found here. Insiders sold 112,182 shares of company stock valued at $6,103,677 over the last 90 days.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. WFG Advisors LP raised its holdings in Eaton Vance by 0.6% in the second quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 14 shares in the last quarter. Advisor Group Inc. raised its holdings in Eaton Vance by 1.0% in the second quarter. Advisor Group Inc. now owns 4,782 shares of the asset manager’s stock valued at $225,000 after acquiring an additional 47 shares in the last quarter. Tredje AP fonden raised its holdings in shares of Eaton Vance by 1.0% during the second quarter. Tredje AP fonden now owns 24,630 shares of the asset manager’s stock worth $1,165,000 after purchasing an additional 233 shares during the period. Prudential Financial Inc. raised its holdings in shares of Eaton Vance by 0.3% during the second quarter. Prudential Financial Inc. now owns 92,632 shares of the asset manager’s stock worth $4,383,000 after purchasing an additional 280 shares during the period. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Eaton Vance by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 34,453 shares of the asset manager’s stock worth $1,630,000 after purchasing an additional 620 shares during the period. 68.73% of the stock is currently owned by hedge funds and other 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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