Equities analysts predict that Eaton Vance Corp (NYSE:EV) will announce $422.91 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Eaton Vance’s earnings. The highest sales estimate is $426.10 million and the lowest is $420.87 million. Eaton Vance reported sales of $421.41 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.4%. The company is expected to report its next earnings results on Tuesday, February 26th.
On average, analysts expect that Eaton Vance will report full-year sales of $1.70 billion for the current financial year, with estimates ranging from $1.67 billion to $1.72 billion. For the next financial year, analysts anticipate that the company will report sales of $1.74 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Eaton Vance.
Eaton Vance (NYSE:EV) last released its earnings results on Tuesday, November 27th. The asset manager reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. Eaton Vance had a return on equity of 35.94% and a net margin of 22.44%. The company had revenue of $435.97 million during the quarter, compared to analyst estimates of $435.02 million.
EV has been the subject of a number of recent analyst reports. Deutsche Bank lowered their price target on Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, September 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $39.00 price target on shares of Eaton Vance in a research report on Wednesday. Jefferies Financial Group reaffirmed a “hold” rating and set a $45.00 price target on shares of Eaton Vance in a research report on Monday, November 19th. Citigroup lowered Eaton Vance from a “buy” rating to a “neutral” rating and lowered their price target for the company from $60.50 to $47.00 in a research report on Monday, November 19th. Finally, ValuEngine lowered Eaton Vance from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $48.13.
In related news, Director Leo I. Higdon, Jr. sold 5,943 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was sold at an average price of $43.97, for a total value of $261,313.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Winthrop H. Smith, Jr. purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The stock was bought at an average price of $34.89 per share, for a total transaction of $348,900.00. The disclosure for this purchase can be found here. Insiders sold a total of 136,984 shares of company stock valued at $6,000,600 in the last three months.
Several institutional investors have recently bought and sold shares of EV. Dimensional Fund Advisors LP grew its stake in shares of Eaton Vance by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 987,483 shares of the asset manager’s stock worth $51,536,000 after buying an additional 19,976 shares during the last quarter. Federated Investors Inc. PA boosted its stake in Eaton Vance by 12.5% during the 2nd quarter. Federated Investors Inc. PA now owns 53,685 shares of the asset manager’s stock valued at $2,802,000 after purchasing an additional 5,984 shares during the last quarter. Korea Investment CORP purchased a new stake in Eaton Vance during the 2nd quarter valued at $193,000. BlueMountain Capital Management LLC boosted its stake in Eaton Vance by 1,313.3% during the 2nd quarter. BlueMountain Capital Management LLC now owns 21,298 shares of the asset manager’s stock valued at $1,112,000 after purchasing an additional 19,791 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in Eaton Vance during the 2nd quarter valued at $227,000. Institutional investors own 67.48% of the company’s stock.
Shares of NYSE EV traded down $0.61 during midday trading on Wednesday, reaching $36.20. The company had a trading volume of 1,684,198 shares, compared to its average volume of 1,364,150. Eaton Vance has a one year low of $32.28 and a one year high of $60.95. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 1.35. The firm has a market cap of $4.28 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.81 and a beta of 1.60.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Thursday, January 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Wednesday, January 30th. Eaton Vance’s dividend payout ratio is currently 43.61%.
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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