$409.74 Million in Sales Expected for Eaton Vance Corporation (EV) This Quarter
Analysts expect Eaton Vance Corporation (NYSE:EV) to announce $409.74 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Eaton Vance Corporation’s earnings. The highest sales estimate is $412.59 million and the lowest is $406.24 million. Eaton Vance Corporation reported sales of $346.85 million during the same quarter last year, which indicates a positive year over year growth rate of 18.1%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, November 21st.
According to Zacks, analysts expect that Eaton Vance Corporation will report full-year sales of $409.74 million for the current fiscal year, with estimates ranging from $1.53 billion to $1.55 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.70 billion per share, with estimates ranging from $1.67 billion to $1.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Eaton Vance Corporation.
Eaton Vance Corporation (NYSE:EV) last issued its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing the 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 analyst estimates of $398.74 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year.
Shares of Eaton Vance Corporation (NYSE:EV) traded down 0.73% during midday trading on Monday, hitting $50.55. 21,926 shares of the stock traded hands. Eaton Vance Corporation has a 52 week low of $34.44 and a 52 week high of $52.36. The firm’s 50-day moving average is $49.49 and its 200 day moving average is $47.36. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 21.98 and a beta of 1.84.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.31 per share. This is an increase from Eaton Vance Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, October 30th. This represents a $1.24 annualized dividend and a dividend yield of 2.42%. Eaton Vance Corporation’s dividend payout ratio (DPR) is 48.70%.
In other news, Director Dorothy E. Puhy sold 5,953 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $51.08, for a total transaction of $304,079.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederick S. Marius sold 8,915 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $47.55, for a total transaction of $423,908.25. Following the sale, the insider now directly owns 30,955 shares of the company’s stock, valued at approximately $1,471,910.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 596,037 shares of company stock valued at $29,808,641.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in Eaton Vance Corporation by 35.8% in the 3rd quarter. Victory Capital Management Inc. now owns 42,156 shares of the asset manager’s stock valued at $2,081,000 after purchasing an additional 11,120 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Eaton Vance Corporation in the 3rd quarter valued at $592,000. Highstreet Asset Management Inc. acquired a new stake in Eaton Vance Corporation in the 3rd quarter valued at $916,000. First Trust Advisors LP grew its position in Eaton Vance Corporation by 11.0% in the 3rd quarter. First Trust Advisors LP now owns 128,516 shares of the asset manager’s stock valued at $6,345,000 after purchasing an additional 12,764 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in Eaton Vance Corporation by 437.3% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,031 shares of the asset manager’s stock valued at $100,000 after purchasing an additional 1,653 shares during the period. 68.30% of the stock is owned by institutional investors and hedge funds.
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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