Eaton Vance Corp Shares Gap Up After Earnings Beat (EV)
Eaton Vance Corp (NYSE:EV) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings, Analyst Ratings Network.com reports. The stock had previously closed at $37.72, but opened at $37.79. Eaton Vance Corp shares last traded at $38.06, with a volume of 408,987 shares changing hands.
The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $367.60 million for the quarter, compared to the consensus estimate of $365.83 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Eaton Vance Corp in a research note on Thursday, August 14th. They now have a $36.00 price target on the stock, down previously from $37.00. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Eaton Vance Corp from $41.00 to $39.00 in a research note on Friday, August 8th. They now have a “market perform” rating on the stock. Finally, analysts at Susquehanna cut their price target on shares of Eaton Vance Corp from $31.00 to $30.00 in a research note on Thursday, July 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Eaton Vance Corp currently has a consensus rating of “Hold” and a consensus target price of $38.60.
The stock has a 50-day moving average of $36.63 and a 200-day moving average of $37.0. The company has a market cap of $4.441 billion and a P/E ratio of 21.09.
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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