Eaton Vance (NYSE:EV) announced a quarterly dividend on Wednesday, April 11th, RTT News reports. Shareholders of record on Monday, April 30th will be paid a dividend of 0.31 per share by the asset manager on Tuesday, May 15th. This represents a $1.24 dividend on an annualized basis and a yield of 2.27%.
Eaton Vance has increased its dividend payment by an average of 8.1% annually over the last three years and has raised its dividend every year for the last 37 years. Eaton Vance has a payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Eaton Vance to earn $3.83 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 32.4%.
Shares of EV opened at $54.58 on Thursday. Eaton Vance has a one year low of $42.20 and a one year high of $60.95. The company has a quick ratio of 9.40, a current ratio of 9.40 and a debt-to-equity ratio of 0.60. The stock has a market cap of $6,579.88, a price-to-earnings ratio of 22.01, a PEG ratio of 0.64 and a beta of 1.69.
Eaton Vance (NYSE:EV) last issued its quarterly earnings results on Tuesday, February 27th. The asset manager reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. Eaton Vance had a return on equity of 34.09% and a net margin of 18.77%. The company had revenue of $421.40 million during the quarter, compared to analysts’ expectations of $420.62 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year. equities research analysts expect that Eaton Vance will post 3.34 earnings per share for the current year.
In other Eaton Vance news, Director Dorothy E. Puhy sold 9,490 shares of Eaton Vance stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $60.49, for a total transaction of $574,050.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Witkos sold 25,000 shares of Eaton Vance stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $60.35, for a total value of $1,508,750.00. The disclosure for this sale can be found here.
A number of analysts have commented on EV shares. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, January 23rd. ValuEngine upgraded Eaton Vance from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Deutsche Bank reduced their price objective on Eaton Vance from $62.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, March 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $59.00 price objective on shares of Eaton Vance in a research note on Wednesday. Finally, JPMorgan Chase set a $58.00 price objective on Eaton Vance and gave the company a “hold” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $56.31.
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About Eaton Vance
Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
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