Envestnet (ENV) Updates Q1 Earnings Guidance

Envestnet (NYSE:ENV) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.36 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.37. The company issued revenue guidance of $192 million to $195 million, compared to the consensus revenue estimate of $187.27 million.Envestnet also updated its FY18 guidance to $1.78 to $1.83 EPS.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada restated a hold rating on shares of Envestnet in a research report on Tuesday, November 7th. Zacks Investment Research lowered shares of Envestnet from a buy rating to a hold rating in a research report on Thursday, November 16th. UBS Group lowered their target price on shares of Envestnet from $63.00 to $59.00 and set a buy rating on the stock in a research report on Friday, November 17th. Finally, Stifel Nicolaus restated a buy rating and set a $62.00 target price (up from $52.00) on shares of Envestnet in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Envestnet has an average rating of Buy and a consensus price target of $55.00.

Envestnet (NYSE:ENV) traded down $0.30 during trading hours on Friday, reaching $55.30. 227,709 shares of the company were exchanged, compared to its average volume of 236,980. Envestnet has a 1 year low of $30.80 and a 1 year high of $57.85. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.63. The stock has a market cap of $2,516.57, a price-to-earnings ratio of 72.82, a price-to-earnings-growth ratio of 2.83 and a beta of 1.96.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The firm had revenue of $182.86 million for the quarter, compared to analyst estimates of $179.20 million. During the same period last year, the firm posted $0.32 EPS. Envestnet’s quarterly revenue was up 17.6% on a year-over-year basis. equities research analysts anticipate that Envestnet will post 0.89 earnings per share for the current year.

In other news, Director Gayle A. Crowell sold 746 shares of Envestnet stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $53.20, for a total transaction of $39,687.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anil Arora sold 755 shares of Envestnet stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $54.80, for a total value of $41,374.00. The disclosure for this sale can be found here. In the last three months, insiders sold 158,444 shares of company stock valued at $8,029,142. 7.80% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/02/23/envestnet-env-updates-q1-earnings-guidance.html.

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.

Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply