Envestnet Inc (ENV) Expected to Announce Earnings of $0.36 Per Share

Equities research analysts forecast that Envestnet Inc (NYSE:ENV) will report $0.36 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Envestnet’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.37. Envestnet reported earnings per share of $0.25 in the same quarter last year, which suggests a positive year over year growth rate of 44%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Envestnet will report full year earnings of $1.77 per share for the current year, with EPS estimates ranging from $1.58 to $2.05. For the next year, analysts anticipate that the business will post earnings of $2.25 per share, with EPS estimates ranging from $1.96 to $2.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Envestnet.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $182.86 million during 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 10.12%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share.

A number of research firms recently commented on ENV. UBS Group dropped their price objective on Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Stifel Nicolaus restated a “buy” rating and issued a $62.00 price objective (up previously from $52.00) on shares of Envestnet in a report on Thursday, November 9th. Royal Bank of Canada restated a “hold” rating on shares of Envestnet in a report on Tuesday, November 7th. Finally, Zacks Investment Research upgraded Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, January 9th. Three 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. The company currently has a consensus rating of “Buy” and a consensus price target of $55.00.

Envestnet (NYSE:ENV) traded up $1.50 during midday trading on Wednesday, hitting $57.10. 711,566 shares of the stock were exchanged, compared to its average volume of 243,512. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $2,463.40, a price-to-earnings ratio of -570.94, a price-to-earnings-growth ratio of 2.77 and a beta of 1.96. Envestnet has a 1-year low of $30.80 and a 1-year high of $57.85.

In other Envestnet news, insider Anil Arora sold 7,109 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $54.80, for a total transaction of $389,573.20. Following the transaction, the insider now owns 96,386 shares in the company, valued at $5,281,952.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shelly O’brien sold 1,500 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $48.13, for a total value of $72,195.00. Following the transaction, the insider now owns 37,686 shares in the company, valued at approximately $1,813,827.18. The disclosure for this sale can be found here. Insiders sold 158,444 shares of company stock worth $8,029,142 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Envestnet by 1.0% during 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 last quarter. Stephens Investment Management Group LLC grew its stake in shares of 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 worth $73,173,000 after acquiring an additional 85,642 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Envestnet by 4.9% in the third quarter. Brown Advisory Inc. now owns 885,250 shares of the business services provider’s stock worth $45,148,000 after acquiring an additional 41,176 shares during the last quarter. State Street Corp grew its stake in shares of Envestnet by 7.1% in the second quarter. State Street Corp now owns 794,155 shares of the business services provider’s stock worth $31,449,000 after acquiring an additional 52,546 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its stake in shares of Envestnet by 1.7% in the fourth quarter. OppenheimerFunds Inc. now owns 609,122 shares of the business services provider’s stock worth $30,365,000 after acquiring an additional 10,476 shares during the last quarter. Institutional investors own 91.36% of the company’s stock.

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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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