Eaton Vance Corp Hits New 12-Month Low After Analyst Downgrade (EV)
Shares of Eaton Vance Corp (NYSE:EV) hit a new 52-week low during mid-day trading on Friday after Susquehanna lowered their price target on the stock from $31.00 to $30.00, Analyst Ratings.Net reports. The stock traded as low as $34.86 and last traded at $34.86, with a volume of 548,475 shares changing hands. The stock had previously closed at $35.13.
A number of other firms have also recently commented on EV. Analysts at Evercore Partners initiated coverage on shares of Eaton Vance Corp in a research note on Friday, May 30th. They set an “equal weight” rating and a $39.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Eaton Vance Corp in a research note on Friday, May 23rd. They now have a $41.00 price target on the stock, up previously from $38.00. Finally, analysts at Credit Suisse raised their price target on shares of Eaton Vance Corp from $43.00 to $44.00 in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $38.90.
The stock has a 50-day moving average of $37.19 and a 200-day moving average of $37.41. The company has a market cap of $4.114 billion and a price-to-earnings ratio of 19.60.
Eaton Vance Corp (NYSE:EV) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.03. The company had revenue of $354.10 million for the quarter, compared to the consensus estimate of $351.30 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Eaton Vance Corp will post $2.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 12th. Investors of record on Thursday, July 31st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Tuesday, July 29th.
Eaton Vance Corp. is engaged in managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions.
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