Eaton Vance (NYSE:EV) released its quarterly earnings data on Tuesday. The asset manager reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77, Bloomberg Earnings reports. The company had revenue of $414.30 million for the quarter, compared to the consensus estimate of $421.71 million. Eaton Vance had a return on equity of 34.09% and a net margin of 18.77%. Eaton Vance’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS.
Eaton Vance traded down $1.09, hitting $56.97, on Tuesday, Marketbeat Ratings reports. 9,199 shares of the company’s stock were exchanged, compared to its average volume of 484,029. Eaton Vance has a 12-month low of $44.91 and a 12-month high of $60.95. The company has a debt-to-equity ratio of 0.60, a current ratio of 9.40 and a quick ratio of 9.40. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 0.76 and a beta of 1.70.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, April 27th. This represents a $1.24 annualized dividend and a yield of 2.18%. Eaton Vance’s dividend payout ratio (DPR) is 50.00%.
A number of hedge funds have recently made changes to their positions in EV. Captrust Financial Advisors acquired a new stake in Eaton Vance during the 4th quarter worth about $114,000. Cerebellum GP LLC acquired a new stake in Eaton Vance during the 4th quarter worth about $128,000. Synovus Financial Corp acquired a new stake in Eaton Vance during the 1st quarter worth about $182,000. TLP Group LLC lifted its holdings in shares of Eaton Vance by 6,198.3% in the 1st quarter. TLP Group LLC now owns 3,653 shares of the asset manager’s stock valued at $203,000 after buying an additional 3,595 shares during the period. Finally, Hyman Charles D acquired a new position in shares of Eaton Vance in the 4th quarter valued at about $209,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.
A number of research analysts have recently issued reports on EV shares. Bank of America upgraded Eaton Vance from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, May 2nd. Zacks Investment Research downgraded Eaton Vance from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. JPMorgan Chase set a $58.00 price target on Eaton Vance and gave the company a “hold” rating in a report on Wednesday, February 21st. Citigroup lifted their price target on Eaton Vance from $63.50 to $65.50 and gave the company a “buy” rating in a report on Tuesday. Finally, ValuEngine downgraded Eaton Vance from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $57.69.
Eaton Vance Company Profile
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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