Eaton Vance Corporation (EV) Receives Average Recommendation of “Hold” from Analysts
Shares of Eaton Vance Corporation (NYSE:EV) have been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $49.58.
Several equities analysts have issued reports on EV shares. Zacks Investment Research upgraded Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Thursday, June 8th. J P Morgan Chase & Co restated an “underweight” rating and set a $47.00 target price (up previously from $40.00) on shares of Eaton Vance Corporation in a report on Tuesday, June 6th. BidaskClub cut Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Jefferies Group LLC restated a “hold” rating and issued a $46.00 target price on shares of Eaton Vance Corporation in a research note on Friday, August 18th. Finally, Credit Suisse Group raised their target price on Eaton Vance Corporation from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, August 11th.
In other news, CEO Matthew J. Witkos sold 24,152 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $47.65, for a total transaction of $1,150,842.80. Following the transaction, the chief executive officer now owns 231,477 shares of the company’s stock, valued at $11,029,879.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Laurie G. Hylton sold 17,003 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.60, for a total value of $843,348.80. Following the transaction, the chief financial officer now directly owns 207,578 shares in the company, valued at approximately $10,295,868.80. The disclosure for this sale can be found here. Insiders sold a total of 323,566 shares of company stock valued at $15,717,753 over the last three months.
A number of institutional investors have recently bought and sold shares of EV. WFG Advisors LP raised its holdings in Eaton Vance Corporation by 0.6% during the 2nd quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock worth $111,000 after purchasing an additional 14 shares during the last quarter. Nordea Investment Management AB lifted its position in Eaton Vance Corporation by 131.9% during the 1st quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock valued at $150,000 after purchasing an additional 1,900 shares during the period. Pacad Investment Ltd. acquired a new position in Eaton Vance Corporation during the 2nd quarter valued at about $166,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in Eaton Vance Corporation by 53.8% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,000 shares of the asset manager’s stock valued at $180,000 after purchasing an additional 1,400 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Eaton Vance Corporation by 44.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock valued at $199,000 after purchasing an additional 1,296 shares during the period. Institutional investors and hedge funds own 68.91% of the company’s stock.
Shares of Eaton Vance Corporation (EV) traded down 0.83% on Wednesday, hitting $49.92. The stock had a trading volume of 332,035 shares. Eaton Vance Corporation has a 52 week low of $34.44 and a 52 week high of $50.40. The firm has a 50 day moving average price of $47.48 and a 200-day moving average price of $46.56. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 21.70 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last released its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $393.70 million for the quarter, compared to the consensus estimate of $398.74 million. During the same quarter last year, the company earned $0.56 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. Analysts anticipate that Eaton Vance Corporation will post $2.46 EPS for the current year.
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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