Equities research analysts expect that Envestnet (NYSE:ENV) will announce sales of $199.41 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Envestnet’s earnings, with the lowest sales estimate coming in at $198.44 million and the highest estimate coming in at $200.60 million. Envestnet reported sales of $167.42 million during the same quarter last year, which would suggest a positive year over year growth rate of 19.1%. The business is expected to report its next quarterly earnings report on Tuesday, August 14th.
According to Zacks, analysts expect that Envestnet will report full year sales of $816.59 million for the current financial year, with estimates ranging from $815.50 million to $817.81 million. For the next financial year, analysts forecast that the business will report sales of $894.81 million per share, with estimates ranging from $815.50 million to $927.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Envestnet.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Wednesday, May 9th. The business services provider reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. Envestnet had a return on equity of 10.66% and a net margin of 2.48%. The firm had revenue of $198.00 million during the quarter, compared to analyst estimates of $194.00 million. During the same period last year, the company posted $0.25 EPS. The business’s quarterly revenue was up 25.5% compared to the same quarter last year.
A number of equities research analysts have commented on the company. Zacks Investment Research lowered Envestnet from a “hold” rating to a “sell” rating in a research report on Monday, April 30th. Sandler O’Neill reiterated a “hold” rating and set a $56.00 price target on shares of Envestnet in a report on Tuesday, April 10th. Finally, ValuEngine upgraded Envestnet from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Envestnet has a consensus rating of “Hold” and an average target price of $55.11.
In related news, insider Anil Arora sold 557 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $57.40, for a total value of $31,971.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayle A. Crowell sold 746 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $54.85, for a total value of $40,918.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,157 shares of company stock valued at $3,081,343. 7.80% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of ENV. California Public Employees Retirement System raised its stake in shares of Envestnet by 6.4% in the 3rd quarter. California Public Employees Retirement System now owns 37,156 shares of the business services provider’s stock valued at $1,895,000 after acquiring an additional 2,250 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Envestnet by 12.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 230,140 shares of the business services provider’s stock valued at $11,473,000 after acquiring an additional 26,110 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Envestnet in the 4th quarter valued at approximately $312,000. Financial Consulate Inc. raised its stake in shares of Envestnet by 3.7% in the 4th quarter. Financial Consulate Inc. now owns 64,875 shares of the business services provider’s stock valued at $3,234,000 after acquiring an additional 2,325 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Envestnet by 133.4% in the 4th 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 in the last quarter. 93.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Envestnet opened at $55.85 on Friday, according to MarketBeat. Envestnet has a one year low of $34.85 and a one year high of $60.28. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 63.47, a price-to-earnings-growth ratio of 2.87 and a beta of 1.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.86 and a quick ratio of 0.86.
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.
Get a free copy of the Zacks research report on Envestnet (ENV)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.