Analysts forecast that Eaton Vance Corp (NYSE:EV) will announce earnings of $0.80 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Eaton Vance’s earnings, with the highest EPS estimate coming in at $0.83 and the lowest estimate coming in at $0.77. Eaton Vance posted earnings of $0.62 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 29%. The business is scheduled to issue its next earnings results on Wednesday, May 23rd.
On average, analysts expect that Eaton Vance will report full-year earnings of $3.35 per share for the current financial year, with EPS estimates ranging from $3.27 to $3.38. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.83 per share, with EPS estimates ranging from $3.64 to $3.92. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Eaton Vance.
Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, February 27th. The asset manager reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. Eaton Vance had a net margin of 18.77% and a return on equity of 34.09%. The business had revenue of $421.40 million for the quarter, compared to analyst estimates of $420.62 million. During the same quarter in the prior year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis.
A number of equities research analysts recently weighed in on EV shares. Zacks Investment Research downgraded shares of Eaton Vance from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. ValuEngine raised shares of Eaton Vance from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. JPMorgan Chase & Co. set a $58.00 price objective on shares of Eaton Vance and gave the company a “hold” rating in a research report on Wednesday, February 21st. Finally, Deutsche Bank decreased their target price on shares of Eaton Vance from $62.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Eaton Vance has an average rating of “Hold” and a consensus price target of $55.19.
Shares of Eaton Vance (EV) traded up $0.59 during trading hours on Wednesday, hitting $57.10. 1,207,508 shares of the company were exchanged, compared to its average volume of 801,243. The company has a current ratio of 9.40, a quick ratio of 5.44 and a debt-to-equity ratio of 0.60. Eaton Vance has a twelve month low of $42.20 and a twelve month high of $60.95. The company has a market cap of $6,785.20, a P/E ratio of 22.66, a PEG ratio of 0.65 and a beta of 1.79.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.17%. The ex-dividend date was Tuesday, January 30th. Eaton Vance’s dividend payout ratio (DPR) is 49.21%.
In other news, 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 value of $1,508,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here.
Several institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB boosted its holdings in shares of Eaton Vance by 3.6% in the fourth quarter. Xact Kapitalforvaltning AB now owns 51,452 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 1,798 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Eaton Vance by 10.0% in the fourth quarter. Handelsbanken Fonder AB now owns 440,000 shares of the asset manager’s stock valued at $24,812,000 after acquiring an additional 40,000 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of Eaton Vance by 57.5% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,300 shares of the asset manager’s stock valued at $355,000 after acquiring an additional 2,300 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Eaton Vance in the fourth quarter valued at approximately $4,213,000. Finally, Vident Investment Advisory LLC boosted its holdings in shares of Eaton Vance by 78.9% in the fourth quarter. Vident Investment Advisory LLC now owns 7,956 shares of the asset manager’s stock valued at $449,000 after acquiring an additional 3,510 shares in the last quarter. Institutional investors and hedge funds own 70.63% of the company’s stock.
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Eaton Vance Company Profile
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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