Eaton Vance Corp (EV) Expected to Post Earnings of $0.60 Per Share
Analysts expect Eaton Vance Corp (NYSE:EV) to post earnings of $0.60 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Eaton Vance Corp’s earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.58. Eaton Vance Corp reported earnings per share of $0.48 in the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The business is expected to report its next earnings report on Wednesday, May 24th.
According to Zacks, analysts expect that Eaton Vance Corp will report full-year earnings of $2.48 per share for the current fiscal year, with EPS estimates ranging from $2.44 to $2.53. For the next fiscal year, analysts expect that the business will report earnings of $2.88 per share, with EPS estimates ranging from $2.79 to $2.95. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Eaton Vance Corp.
Eaton Vance Corp (NYSE:EV) last posted its quarterly earnings results on Wednesday, February 22nd. The asset manager reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The business earned $354.95 million during the quarter, compared to analyst estimates of $351.22 million. Eaton Vance Corp had a return on equity of 38.30% and a net margin of 17.97%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS.
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Several equities research analysts recently issued reports on EV shares. Bank of America Corp raised shares of Eaton Vance Corp from an “underperform” rating to a “neutral” rating in a research note on Tuesday, February 21st. Zacks Investment Research raised shares of Eaton Vance Corp from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, January 24th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Eaton Vance Corp in a research note on Thursday, January 12th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $42.00 price target on shares of Eaton Vance Corp in a research note on Friday, March 24th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.75.
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In other Eaton Vance Corp news, CEO Matthew J. Witkos sold 84,085 shares of the firm’s stock in a transaction on Friday, January 20th. The shares were sold at an average price of $42.83, for a total transaction of $3,601,360.55. Following the completion of the transaction, the chief executive officer now directly owns 287,773 shares of the company’s stock, valued at approximately $12,325,317.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Frederick S. Marius sold 45,893 shares of the firm’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $43.71, for a total transaction of $2,005,983.03. Following the transaction, the insider now directly owns 35,042 shares of the company’s stock, valued at $1,531,685.82. The disclosure for this sale can be found here.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Capital Management LLC raised its position in shares of Eaton Vance Corp by 15.3% in the fourth quarter. Janus Capital Management LLC now owns 2,015,214 shares of the asset manager’s stock valued at $84,397,000 after buying an additional 267,323 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Eaton Vance Corp by 3.9% in the third quarter. Principal Financial Group Inc. now owns 449,536 shares of the asset manager’s stock valued at $17,554,000 after buying an additional 16,938 shares in the last quarter. BlackRock Inc. raised its position in shares of Eaton Vance Corp by 7.0% in the third quarter. BlackRock Inc. now owns 323,678 shares of the asset manager’s stock valued at $12,640,000 after buying an additional 21,182 shares in the last quarter. Tredje AP fonden raised its position in shares of Eaton Vance Corp by 102.2% in the fourth quarter. Tredje AP fonden now owns 15,531 shares of the asset manager’s stock valued at $650,000 after buying an additional 7,851 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Eaton Vance Corp during the fourth quarter valued at $43,128,000. 70.25% of the stock is owned by institutional investors.
Eaton Vance Corp (NYSE:EV) opened at 42.74 on Thursday. Eaton Vance Corp has a 1-year low of $32.97 and a 1-year high of $47.83. The firm has a 50 day moving average of $45.03 and a 200 day moving average of $41.95. The firm has a market cap of $4.73 billion, a P/E ratio of 19.88 and a beta of 1.79.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 28th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.62%. The ex-dividend date is Wednesday, April 26th. Eaton Vance Corp’s dividend payout ratio is currently 53.33%.
About Eaton Vance Corp
Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.
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