Brokerages Anticipate Eaton Vance Corp (EV) Will Announce Quarterly Sales of $414.91 Million

Wall Street brokerages predict that Eaton Vance Corp (NYSE:EV) will report $414.91 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Eaton Vance’s earnings, with the highest sales estimate coming in at $415.57 million and the lowest estimate coming in at $414.25 million. Eaton Vance reported sales of $354.96 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.9%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, February 27th.

On average, analysts expect that Eaton Vance will report full year sales of $414.91 million for the current financial year, with estimates ranging from $1.69 billion to $1.70 billion. For the next year, analysts anticipate that the business will post sales of $1.80 billion per share, with estimates ranging from $1.79 billion to $1.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Eaton Vance.

Eaton Vance (NYSE:EV) last announced its earnings results on Tuesday, November 21st. The asset manager reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01). The business had revenue of $405.70 million during the quarter, compared to analyst estimates of $407.75 million. Eaton Vance had a return on equity of 33.45% and a net margin of 18.45%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share.

EV has been the subject of several research analyst reports. Jefferies Group restated a “hold” rating and issued a $46.00 price objective on shares of Eaton Vance in a research report on Thursday, October 26th. Bank of America boosted their price objective on shares of Eaton Vance from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. ValuEngine upgraded shares of Eaton Vance from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. Zacks Investment Research upgraded shares of Eaton Vance from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, Deutsche Bank initiated coverage on shares of Eaton Vance in a research report on Tuesday, October 17th. They issued a “buy” rating and a $57.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $53.44.

Eaton Vance (EV) opened at $53.19 on Friday. The company has a market capitalization of $6,202.63, a P/E ratio of 21.98, a PEG ratio of 0.79 and a beta of 1.79. The company has a quick ratio of 5.44, a current ratio of 5.44 and a debt-to-equity ratio of 0.62. Eaton Vance has a 1-year low of $42.20 and a 1-year high of $60.95.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.33%. The ex-dividend date is Tuesday, January 30th. Eaton Vance’s dividend payout ratio (DPR) is presently 51.24%.

In other Eaton Vance news, CEO Matthew J. Witkos sold 25,000 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $60.35, for a total transaction of $1,508,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dorothy E. Puhy sold 9,490 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $60.49, for a total transaction of $574,050.10. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of EV. Bank of New York Mellon Corp raised its position in shares of Eaton Vance by 33.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,421,942 shares of the asset manager’s stock valued at $218,311,000 after acquiring an additional 1,113,748 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Eaton Vance during the 4th quarter valued at $53,919,000. BlackRock Inc. raised its position in shares of Eaton Vance by 5.0% during the 4th quarter. BlackRock Inc. now owns 11,297,677 shares of the asset manager’s stock valued at $637,078,000 after acquiring an additional 533,248 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of Eaton Vance by 46.7% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 509,947 shares of the asset manager’s stock valued at $25,176,000 after acquiring an additional 162,436 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Eaton Vance by 94.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 264,206 shares of the asset manager’s stock valued at $14,899,000 after acquiring an additional 128,541 shares during the last quarter. Institutional investors own 69.57% of the company’s stock.

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About Eaton Vance

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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