Wall Street brokerages forecast that Eaton Vance Corp (NYSE:EV) will report $0.81 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Eaton Vance’s earnings. The lowest EPS estimate is $0.78 and the highest is $0.82. Eaton Vance reported earnings per share of $0.62 in the same quarter last year, which suggests a positive year over year growth rate of 30.6%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 22nd.
According to Zacks, analysts expect that Eaton Vance will report full-year earnings of $3.19 per share for the current fiscal year, with EPS estimates ranging from $3.13 to $3.23. For the next financial year, analysts expect that the firm will report earnings of $3.66 per share, with EPS estimates ranging from $3.48 to $3.78. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Eaton Vance.
Eaton Vance (NYSE:EV) last posted its quarterly earnings results on Tuesday, May 22nd. The asset manager reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $414.30 million for the quarter, compared to the consensus estimate of $421.71 million. Eaton Vance had a return on equity of 33.96% and a net margin of 19.82%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS.
Several research firms have weighed in on EV. Citigroup boosted their price target on Eaton Vance from $63.50 to $65.50 and gave the company a “buy” rating in a research note on Tuesday, May 22nd. Zacks Investment Research upgraded Eaton Vance from a “sell” rating to a “hold” rating in a research note on Friday, May 18th. ValuEngine upgraded Eaton Vance from a “hold” rating to a “buy” rating in a research note on Monday, May 7th. Credit Suisse Group boosted their price target on Eaton Vance from $57.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, May 23rd. Finally, Bank of America upgraded Eaton Vance from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Eaton Vance currently has an average rating of “Hold” and a consensus price target of $58.63.
Eaton Vance stock opened at $53.08 on Thursday. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.67. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 0.85 and a beta of 1.64. Eaton Vance has a fifty-two week low of $45.06 and a fifty-two week high of $60.95.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Tuesday, July 31st were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, July 30th. This represents a $1.24 annualized dividend and a dividend yield of 2.34%. Eaton Vance’s dividend payout ratio (DPR) is presently 50.00%.
Several hedge funds have recently modified their holdings of EV. BlackRock Inc. lifted its holdings in shares of Eaton Vance by 2.8% in the 1st quarter. BlackRock Inc. now owns 11,609,315 shares of the asset manager’s stock valued at $646,292,000 after buying an additional 311,638 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Eaton Vance by 89.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 536,400 shares of the asset manager’s stock valued at $29,861,000 after buying an additional 252,900 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Eaton Vance by 11.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,145,962 shares of the asset manager’s stock valued at $111,998,000 after buying an additional 224,463 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Eaton Vance by 3.9% in the 2nd quarter. Wells Fargo & Company MN now owns 5,254,672 shares of the asset manager’s stock valued at $274,240,000 after buying an additional 195,599 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd acquired a new position in shares of Eaton Vance in the 2nd quarter valued at about $8,813,000. 68.57% of the stock is owned by institutional investors and hedge funds.
Eaton Vance Company Profile
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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