Shares of Eaton Vance Corp (NYSE:EV) have been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $42.71.
A number of research analysts have recently issued reports on EV shares. Jefferies Financial Group reissued a “hold” rating and issued a $45.00 target price on shares of Eaton Vance in a report on Monday, November 19th. Citigroup lowered Eaton Vance from a “buy” rating to a “neutral” rating and dropped their target price for the company from $60.50 to $47.00 in a report on Monday, November 19th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 target price on shares of Eaton Vance in a report on Monday, November 19th. JPMorgan Chase & Co. lowered Eaton Vance from a “neutral” rating to an “underweight” rating and set a $38.00 price objective on the stock. in a report on Wednesday, November 28th. Finally, ValuEngine lowered Eaton Vance from a “hold” rating to a “sell” rating in a report on Friday, December 7th.
In other Eaton Vance news, Director Winthrop H. Smith, Jr. acquired 10,000 shares of the stock in a transaction on Tuesday, December 18th. The stock was purchased at an average price of $34.89 per share, for a total transaction of $348,900.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of large investors have recently added to or reduced their stakes in the business. Intercontinental Wealth Advisors LLC bought a new stake in shares of Eaton Vance in the 4th quarter worth approximately $25,000. Essex Savings Bank acquired a new stake in Eaton Vance in the 4th quarter valued at approximately $25,000. Lindbrook Capital LLC acquired a new stake in Eaton Vance in the 4th quarter valued at approximately $31,000. Oregon Public Employees Retirement Fund increased its position in Eaton Vance by 3,313.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,189,498 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 2,125,364 shares during the period. Finally, Rockland Trust Co. acquired a new stake in Eaton Vance in the 4th quarter valued at approximately $70,000. 70.17% of the stock is currently owned by institutional investors.
Shares of NYSE EV opened at $41.61 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 13.48 and a quick ratio of 5.67. Eaton Vance has a twelve month low of $32.28 and a twelve month high of $58.54. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.70 and a beta of 1.62.
Eaton Vance (NYSE:EV) last released its earnings results on Tuesday, February 26th. The asset manager reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. The business had revenue of $406.42 million for the quarter, compared to analyst estimates of $421.97 million. Eaton Vance had a return on equity of 35.03% and a net margin of 23.16%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, sell-side analysts anticipate that Eaton Vance will post 3.15 earnings per share for the current year.
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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