Zacks: Brokerages Expect Envestnet (ENV) to Announce $0.36 EPS

Analysts expect Envestnet (NYSE:ENV) to announce earnings per share (EPS) of $0.36 for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Envestnet’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.37. Envestnet reported earnings of $0.25 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 44%. The business is scheduled to issue its next quarterly earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Envestnet will report full-year earnings of $1.81 per share for the current year, with EPS estimates ranging from $1.70 to $1.92. For the next fiscal year, analysts forecast that the company will report earnings of $2.20 per share, with EPS estimates ranging from $2.05 to $2.38. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Envestnet.

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Envestnet (NYSE:ENV) last announced 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. Envestnet had a negative net margin of 0.48% and a positive return on equity of 9.93%. The firm had revenue of $182.86 million for the quarter, compared to the consensus estimate of $179.20 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis.

A number of equities research analysts have recently issued reports on ENV shares. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a report on Tuesday, January 9th. ValuEngine raised shares of Envestnet from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Sandler O’Neill reaffirmed a “hold” rating and issued a $56.00 target price on shares of Envestnet in a research note on Tuesday, April 10th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.11.

In other Envestnet news, insider Anil Arora sold 7,109 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.80, for a total transaction of $389,573.20. Following the transaction, the insider now directly owns 96,386 shares in the company, valued at $5,281,952.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shelly O’brien sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $53.06, for a total transaction of $159,180.00. The disclosure for this sale can be found here. Insiders sold 63,767 shares of company stock worth $3,711,157 over the last ninety days. 5.58% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Envestnet by 133.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 1,591 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in Envestnet during the fourth quarter valued at approximately $175,000. Macquarie Group Ltd. bought a new position in Envestnet during the fourth quarter valued at approximately $194,000. First Republic Investment Management Inc. bought a new position in Envestnet during the third quarter valued at approximately $204,000. Finally, Xact Kapitalforvaltning AB bought a new position in Envestnet during the fourth quarter valued at approximately $225,000. Institutional investors and hedge funds own 93.20% of the company’s stock.

Shares of Envestnet stock traded up $0.55 on Friday, reaching $55.30. The stock had a trading volume of 284,730 shares, compared to its average volume of 247,571. Envestnet has a 1 year low of $33.90 and a 1 year high of $60.28. The company has a market cap of $2,446.45, a price-to-earnings ratio of 62.84, a PEG ratio of 2.82 and a beta of 1.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55.

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About Envestnet

Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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