Brokers Set Expectations for Eaton Vance Corporation’s Q1 2018 Earnings (EV)
Eaton Vance Corporation (NYSE:EV) – Research analysts at William Blair issued their Q1 2018 earnings per share (EPS) estimates for shares of Eaton Vance Corporation in a note issued to investors on Tuesday. William Blair analyst C. Shutler expects that the asset manager will earn $0.69 per share for the quarter. William Blair also issued estimates for Eaton Vance Corporation’s Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.75 EPS and Q4 2018 earnings at $0.77 EPS.
A number of other analysts have also commented on the company. Zacks Investment Research upgraded Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, November 2nd. Jefferies Group LLC restated a “hold” rating and issued a $46.00 price target on shares of Eaton Vance Corporation in a report on Thursday, October 26th. BidaskClub lowered Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Bank of America Corporation boosted their price target on Eaton Vance Corporation from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, J P Morgan Chase & Co upgraded Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 target price on the stock in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Eaton Vance Corporation currently has a consensus rating of “Hold” and a consensus price target of $52.06.
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Eaton Vance Corporation (NYSE:EV) last issued its quarterly earnings results on Tuesday, November 21st. The asset manager reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The firm had revenue of $405.70 million during the quarter, compared to the consensus estimate of $407.75 million. Eaton Vance Corporation had a net margin of 18.45% and a return on equity of 33.45%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Monday, October 30th. This is an increase from Eaton Vance Corporation’s previous quarterly dividend of $0.28. Eaton Vance Corporation’s payout ratio is 51.24%.
In other news, insider Frederick S. Marius sold 7,574 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $47.99, for a total value of $363,476.26. Following the transaction, the insider now owns 26,128 shares of the company’s stock, valued at $1,253,882.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frederick S. Marius sold 8,915 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $47.55, for a total value of $423,908.25. Following the completion of the transaction, the insider now directly owns 30,955 shares in the company, valued at approximately $1,471,910.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 596,037 shares of company stock worth $29,808,641.
Several institutional investors have recently bought and sold shares of EV. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Eaton Vance Corporation by 437.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,031 shares of the asset manager’s stock valued at $100,000 after buying an additional 1,653 shares during the period. WFG Advisors LP boosted its stake 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 valued at $111,000 after buying an additional 14 shares during the period. Pacad Investment Ltd. bought a new stake in shares of Eaton Vance Corporation in the second quarter valued at approximately $166,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Eaton Vance Corporation by 44.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock valued at $199,000 after buying an additional 1,296 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in shares of Eaton Vance Corporation in the third quarter valued at approximately $200,000. 69.49% of the stock is currently owned by institutional investors.
About Eaton Vance Corporation
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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