Wall Street brokerages expect Envestnet Inc (NYSE:ENV) to post earnings of $0.38 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Envestnet’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.36. Envestnet reported earnings per share of $0.29 in the same quarter last year, which indicates a positive year over year growth rate of 31%. The business is scheduled to announce its next earnings results on Tuesday, August 14th.
On average, analysts expect that Envestnet will report full-year earnings of $1.81 per share for the current fiscal year, with EPS estimates ranging from $1.79 to $1.84. For the next financial year, analysts forecast that the company will post earnings of $2.20 per share, with EPS estimates ranging from $2.10 to $2.29. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Envestnet.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, May 9th. The business services provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Envestnet had a net margin of 2.48% and a return on equity of 10.66%. The business had revenue of $198.00 million for the quarter, compared to the consensus estimate of $194.00 million. During the same period last year, the firm earned $0.25 earnings per share. The company’s quarterly revenue was up 25.5% on a year-over-year basis.
Several research firms have weighed in on ENV. Zacks Investment Research upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. Sandler O’Neill reiterated a “hold” rating and issued a $56.00 price target on shares of Envestnet in a research report on Tuesday, April 10th. Finally, ValuEngine upgraded shares of Envestnet from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $55.11.
Envestnet opened at $58.70 on Thursday, according to Marketbeat. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.86 and a current ratio of 0.86. Envestnet has a 1-year low of $37.40 and a 1-year high of $60.28. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 66.70, a price-to-earnings-growth ratio of 3.28 and a beta of 1.70.
In related news, insider Shelly O’brien sold 4,000 shares of the firm’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $55.80, for a total transaction of $223,200.00. Following the completion of the transaction, the insider now directly owns 42,945 shares of the company’s stock, valued at $2,396,331. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gayle A. Crowell sold 745 shares of the firm’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $57.10, for a total transaction of $42,539.50. The disclosure for this sale can be found here. Insiders have sold a total of 12,045 shares of company stock worth $663,021 over the last 90 days. Insiders own 5.49% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware purchased a new position in Envestnet during the first quarter valued at $119,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Envestnet by 133.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 1,591 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Envestnet during the fourth quarter valued at $175,000. Macquarie Group Ltd. purchased a new position in Envestnet during the fourth quarter valued at $194,000. Finally, Psagot Investment House Ltd. purchased a new position in Envestnet during the first quarter valued at $206,000. 91.23% of the stock is owned by institutional investors.
Envestnet Company Profile
Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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