Eaton Vance Corporation (EV) Expected to Post FY2017 Earnings of $2.43 Per Share
Eaton Vance Corporation (NYSE:EV) – Analysts at William Blair decreased their FY2017 earnings per share estimates for shares of Eaton Vance Corporation in a research report issued on Wednesday. William Blair analyst C. Shutler now expects that the asset manager will earn $2.43 per share for the year, down from their previous forecast of $2.48.
Several other analysts have also recently commented on EV. Zacks Investment Research cut shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. Jefferies Group LLC increased their price target on shares of Eaton Vance Corporation from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, May 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $50.00 price target on shares of Eaton Vance Corporation in a research note on Tuesday, May 23rd. Bank of America Corporation increased their price target on shares of Eaton Vance Corporation from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. Finally, Citigroup Inc. increased their price target on shares of Eaton Vance Corporation from $46.50 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Eaton Vance Corporation currently has an average rating of “Hold” and a consensus price target of $50.21.
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Shares of Eaton Vance Corporation (NYSE EV) opened at 47.00 on Monday. The firm’s 50-day moving average price is $48.07 and its 200-day moving average price is $46.15. Eaton Vance Corporation has a 52-week low of $34.44 and a 52-week high of $50.10. The firm has a market capitalization of $5.23 billion, a PE ratio of 20.43 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last posted its quarterly earnings data on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.05. Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. The company had revenue of $393.70 million for the quarter, compared to analyst estimates of $398.74 million. During the same period in the previous year, the business posted $0.56 earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.12 dividend on an annualized basis and a yield of 2.38%. Eaton Vance Corporation’s payout ratio is presently 48.70%.
In other Eaton Vance Corporation news, insider Jeffrey P. Beale sold 39,343 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $48.30, for a total value of $1,900,266.90. Following the transaction, the insider now directly owns 343,509 shares of the company’s stock, valued at $16,591,484.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Witkos sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $48.08, for a total transaction of $1,923,200.00. Following the completion of the transaction, the chief executive officer now directly owns 243,688 shares in the company, valued at $11,716,519.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,943 shares of company stock worth $6,149,649.
A number of institutional investors have recently made changes to their positions in EV. WFG Advisors LP boosted its position in shares of Eaton Vance Corporation by 0.6% in the second quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock worth $111,000 after buying an additional 14 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in Eaton Vance Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,705 shares of the asset manager’s stock valued at $122,000 after buying an additional 1,272 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Eaton Vance Corporation by 20.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,901 shares of the asset manager’s stock valued at $130,000 after buying an additional 501 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Eaton Vance Corporation by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the asset manager’s stock valued at $127,000 after buying an additional 148 shares during the period. Finally, Nordea Investment Management AB raised its stake in Eaton Vance Corporation by 131.9% in the first quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock valued at $150,000 after buying an additional 1,900 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.
Eaton Vance Corporation Company Profile
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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