Equities analysts forecast that Eaton Vance Corp (NYSE:EV) will post earnings of $0.80 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Eaton Vance’s earnings. The highest EPS estimate is $0.83 and the lowest is $0.77. Eaton Vance reported earnings per share of $0.62 during the same quarter last year, which would suggest a positive year-over-year growth rate of 29%. The business is scheduled to announce its next earnings report on Wednesday, May 23rd.
On average, analysts expect that Eaton Vance will report full-year earnings of $3.34 per share for the current year, with EPS estimates ranging from $3.27 to $3.38. For the next year, analysts expect that the company will report earnings of $3.83 per share, with EPS estimates ranging from $3.64 to $3.92. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Eaton Vance.
Eaton Vance (NYSE:EV) last issued its quarterly earnings data on Tuesday, February 27th. The asset manager reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Eaton Vance had a net margin of 18.77% and a return on equity of 34.09%. The firm had revenue of $421.40 million for the quarter, compared to analysts’ expectations of $420.62 million. During the same quarter in the prior year, the business earned $0.53 EPS. The business’s quarterly revenue was up 18.7% on a year-over-year basis.
A number of equities research analysts have commented on the stock. Deutsche Bank decreased their target price on shares of Eaton Vance from $62.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, March 6th. ValuEngine cut shares of Eaton Vance from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded shares of Eaton Vance from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, January 23rd. Finally, JPMorgan Chase set a $58.00 target price on shares of Eaton Vance and gave the stock a “hold” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $55.56.
In other Eaton Vance news, Director Dorothy E. Puhy sold 9,490 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $60.49, for a total transaction of $574,050.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Witkos sold 25,000 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $60.35, for a total transaction of $1,508,750.00. The disclosure for this sale can be found here.
Institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors purchased a new stake in Eaton Vance during the 4th quarter valued at approximately $114,000. Cerebellum GP LLC purchased a new stake in Eaton Vance during the 4th quarter valued at approximately $128,000. Hyman Charles D purchased a new stake in Eaton Vance during the 4th quarter valued at approximately $209,000. Stone Ridge Asset Management LLC purchased a new stake in Eaton Vance during the 4th quarter valued at approximately $213,000. Finally, Vident Investment Advisory LLC purchased a new stake in Eaton Vance during the 3rd quarter valued at approximately $219,000. 70.59% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:EV traded down $1.51 during trading on Friday, hitting $54.35. The company’s stock had a trading volume of 631,516 shares, compared to its average volume of 616,460. Eaton Vance has a 12 month low of $42.20 and a 12 month high of $60.95. The stock has a market capitalization of $6,707.15, a PE ratio of 21.92, a price-to-earnings-growth ratio of 0.65 and a beta of 1.69. The company has a quick ratio of 9.40, a current ratio of 9.40 and a debt-to-equity ratio of 0.60.
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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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