Wall Street analysts forecast that Eaton Vance Corp (NYSE:EV) will announce sales of $422.20 million for the current quarter, Zacks reports. Three analysts have issued estimates for Eaton Vance’s earnings. The highest sales estimate is $427.82 million and the lowest is $416.17 million. Eaton Vance reported sales of $374.63 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.7%. The business is scheduled to announce its next quarterly earnings report on Wednesday, May 23rd.
On average, analysts expect that Eaton Vance will report full-year sales of $422.20 million for the current fiscal year, with estimates ranging from $1.72 billion to $1.75 billion. For the next year, analysts forecast that the firm will report sales of $1.85 billion per share, with estimates ranging from $1.83 billion to $1.88 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Eaton Vance.
Eaton Vance (NYSE:EV) last released its quarterly earnings data on Tuesday, February 27th. The asset manager reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Eaton Vance had a return on equity of 34.09% and a net margin of 18.77%. The company had revenue of $421.40 million for the quarter, compared to the consensus estimate of $420.62 million. During the same quarter last year, the business posted $0.53 EPS. Eaton Vance’s revenue for the quarter was up 18.7% on a year-over-year basis.
Several equities research analysts recently weighed in on EV shares. JPMorgan Chase set a $58.00 price objective on Eaton Vance and gave the company a “hold” rating in a report on Wednesday, February 21st. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Tuesday, January 23rd. ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Deutsche Bank lowered their target price on Eaton Vance from $62.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.19.
Shares of NYSE EV traded up $0.07 during mid-day trading on Monday, hitting $55.86. 1,078,115 shares of the stock traded hands, compared to its average volume of 767,456. The company has a quick ratio of 9.40, a current ratio of 9.40 and a debt-to-equity ratio of 0.60. Eaton Vance has a twelve month low of $42.20 and a twelve month high of $60.95. The company has a market cap of $6,601.49, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69.
In other news, CEO Matthew J. Witkos sold 25,000 shares of Eaton Vance stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $60.35, for a total value of $1,508,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dorothy E. Puhy sold 9,490 shares of Eaton Vance stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $60.49, for a total value of $574,050.10. The disclosure for this sale can be found here.
Several hedge funds have recently bought and sold shares of the company. Leavell Investment Management Inc. raised its position in shares of Eaton Vance by 8.3% in the 4th quarter. Leavell Investment Management Inc. now owns 13,000 shares of the asset manager’s stock worth $733,000 after acquiring an additional 1,000 shares in the last quarter. GWM Advisors LLC grew its stake in shares of Eaton Vance by 13.1% in the 4th quarter. GWM Advisors LLC now owns 9,610 shares of the asset manager’s stock valued at $561,000 after buying an additional 1,113 shares during the period. Profund Advisors LLC grew its stake in shares of Eaton Vance by 8.9% in the 4th quarter. Profund Advisors LLC now owns 14,384 shares of the asset manager’s stock valued at $811,000 after buying an additional 1,174 shares during the period. Thrivent Financial For Lutherans grew its stake in shares of Eaton Vance by 4.9% in the 4th quarter. Thrivent Financial For Lutherans now owns 25,708 shares of the asset manager’s stock valued at $1,450,000 after buying an additional 1,198 shares during the period. Finally, Financial Counselors Inc. grew its stake in shares of Eaton Vance by 1.3% in the 3rd quarter. Financial Counselors Inc. now owns 101,100 shares of the asset manager’s stock valued at $4,991,000 after buying an additional 1,256 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.
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Eaton Vance 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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