Analysts expect Eaton Vance Corp (NYSE:EV) to report earnings of $0.86 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Eaton Vance’s earnings, with the lowest EPS estimate coming in at $0.83 and the highest estimate coming in at $0.89. Eaton Vance reported earnings per share of $0.70 in the same quarter last year, which would suggest a positive year over year growth rate of 22.9%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, November 27th.
On average, analysts expect that Eaton Vance will report full-year earnings of $3.21 per share for the current fiscal year, with EPS estimates ranging from $3.19 to $3.23. For the next financial year, analysts forecast that the firm will post earnings of $3.65 per share, with EPS estimates ranging from $3.59 to $3.74. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Eaton Vance.
Eaton Vance (NYSE:EV) last posted its earnings results on Wednesday, August 29th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Eaton Vance had a net margin of 21.44% and a return on equity of 34.91%. The firm had revenue of $430.60 million during the quarter, compared to analyst estimates of $430.11 million. During the same quarter in the prior year, the business posted $0.62 EPS. The business’s revenue was up 9.4% compared to the same quarter last year.
A number of brokerages recently weighed in on EV. Zacks Investment Research downgraded shares of Eaton Vance from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Citigroup cut their price target on shares of Eaton Vance from $62.00 to $60.50 and set a “buy” rating on the stock in a report on Thursday, August 30th. ValuEngine downgraded shares of Eaton Vance from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Finally, Deutsche Bank cut their price target on shares of Eaton Vance from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.07.
Shares of NYSE EV traded down $0.35 during trading on Tuesday, hitting $44.35. The stock had a trading volume of 833,570 shares, compared to its average volume of 643,858. The company has a debt-to-equity ratio of 1.14, a current ratio of 8.35 and a quick ratio of 8.35. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.67 and a beta of 1.65. Eaton Vance has a 12 month low of $42.16 and a 12 month high of $60.95.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued a $0.35 dividend. This is an increase from Eaton Vance’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Tuesday, October 30th. Eaton Vance’s payout ratio is 56.45%.
In other Eaton Vance news, CEO Thomas E. Faust, Jr. sold 54,134 shares of the company’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $43.38, for a total transaction of $2,348,332.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian D. Langstraat sold 13,000 shares of the company’s stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $47.50, for a total transaction of $617,500.00. The disclosure for this sale can be found here. Insiders sold a total of 149,984 shares of company stock worth $6,618,100 over the last three months.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EV. Mount Yale Investment Advisors LLC purchased a new stake in Eaton Vance during the first quarter valued at about $103,000. Clarus Wealth Advisors purchased a new stake in Eaton Vance during the second quarter valued at about $131,000. Cerebellum GP LLC lifted its holdings in Eaton Vance by 525.0% during the third quarter. Cerebellum GP LLC now owns 3,325 shares of the asset manager’s stock valued at $175,000 after purchasing an additional 2,793 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in Eaton Vance by 44.3% during the second quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock valued at $183,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Korea Investment CORP purchased a new stake in Eaton Vance during the second quarter valued at about $193,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.
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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