Analysts predict that Eaton Vance Corp (NYSE:EV) will post $442.36 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Eaton Vance’s earnings, with estimates ranging from $441.41 million to $443.40 million. Eaton Vance posted sales of $405.67 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9%. The business is scheduled to issue its next earnings results before the market opens on Tuesday, November 27th.
On average, analysts expect that Eaton Vance will report full year sales of $1.71 billion for the current financial year. For the next fiscal year, analysts forecast that the company will report sales of $1.83 billion, with estimates ranging from $1.82 billion to $1.83 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Eaton Vance.
Eaton Vance (NYSE:EV) last released its quarterly earnings results on Wednesday, August 29th. The asset manager reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The business had revenue of $430.60 million during the quarter, compared to analyst estimates of $430.11 million. Eaton Vance had a net margin of 21.44% and a return on equity of 34.91%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share.
Several research firms have commented on EV. Zacks Investment Research lowered shares of Eaton Vance from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Citigroup decreased their price target on shares of Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a research report on Thursday, August 30th. ValuEngine lowered shares of Eaton Vance from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Finally, Deutsche Bank decreased their price target on shares of Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $60.07.
EV stock opened at $45.05 on Thursday. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 0.72 and a beta of 1.64. Eaton Vance has a one year low of $42.16 and a one year high of $60.95. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.14.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.11%. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, October 30th. Eaton Vance’s dividend payout ratio is presently 50.00%.
In related news, CEO Thomas E. Faust, Jr. sold 33,407 shares of the stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $45.50, for a total value of $1,520,018.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian D. Langstraat sold 13,000 shares of the stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $47.50, for a total transaction of $617,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,984 shares of company stock valued at $6,618,100.
Several institutional investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. raised its position in shares of Eaton Vance by 44.3% in the 2nd quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock valued at $183,000 after purchasing an additional 1,075 shares during the last quarter. DNB Asset Management AS raised its position in shares of Eaton Vance by 11.2% in the 3rd quarter. DNB Asset Management AS now owns 11,939 shares of the asset manager’s stock valued at $628,000 after purchasing an additional 1,200 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Eaton Vance by 11.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,116 shares of the asset manager’s stock valued at $685,000 after purchasing an additional 1,343 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Eaton Vance by 9.0% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 16,615 shares of the asset manager’s stock valued at $873,000 after purchasing an additional 1,367 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Eaton Vance by 51.0% in the 3rd quarter. IFP Advisors Inc now owns 4,509 shares of the asset manager’s stock valued at $237,000 after purchasing an additional 1,523 shares during the last quarter. 68.38% of the stock is owned by hedge funds and other institutional investors.
About Eaton Vance
Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
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