Eaton Vance (NYSE:EV) had its target price decreased by research analysts at Deutsche Bank from $64.00 to $63.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the asset manager’s stock. Deutsche Bank’s price target would indicate a potential upside of 19.39% from the company’s current price.
Other equities analysts have also issued research reports about the stock. Citigroup cut their target price on shares of Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a research report on Thursday, August 30th. Zacks Investment Research lowered shares of Eaton Vance from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $58.31.
NYSE EV opened at $52.77 on Thursday. Eaton Vance has a 52-week low of $48.63 and a 52-week high of $60.95. 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 stock has a market cap of $6.32 billion, a P/E ratio of 21.28, a P/E/G ratio of 0.90 and a beta of 1.62.
Eaton Vance (NYSE:EV) last issued its earnings results on Wednesday, August 29th. The asset manager reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $430.60 million during the quarter, compared to analyst estimates of $430.11 million. Eaton Vance had a net margin of 21.44% and a return on equity of 34.91%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. equities research analysts anticipate that Eaton Vance will post 3.21 EPS for the current year.
A number of large investors have recently modified their holdings of EV. Thrivent Financial for Lutherans boosted its position in Eaton Vance by 6.1% during the first quarter. Thrivent Financial for Lutherans now owns 27,289 shares of the asset manager’s stock worth $1,519,000 after purchasing an additional 1,581 shares during the period. BlackRock Inc. boosted its position in shares of Eaton Vance by 2.8% in the first quarter. BlackRock Inc. now owns 11,609,315 shares of the asset manager’s stock valued at $646,292,000 after acquiring an additional 311,638 shares during the period. Toronto Dominion Bank boosted its position in shares of Eaton Vance by 18.1% in the first quarter. Toronto Dominion Bank now owns 8,083 shares of the asset manager’s stock valued at $450,000 after acquiring an additional 1,237 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Eaton Vance by 8.3% in the first quarter. JPMorgan Chase & Co. now owns 1,870,521 shares of the asset manager’s stock valued at $104,131,000 after acquiring an additional 142,961 shares during the period. Finally, IFM Investors Pty Ltd bought a new position in shares of Eaton Vance in the first quarter valued at approximately $248,000. Hedge funds and other institutional investors own 68.40% of the company’s stock.
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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