Analysts forecast that Eaton Vance Corp (NYSE:EV) will post $0.86 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Eaton Vance’s earnings, with estimates ranging from $0.83 to $0.89. Eaton Vance posted earnings per share of $0.70 during the same quarter last year, which suggests a positive year-over-year growth rate of 22.9%. The business is expected to report its next earnings results on Tuesday, November 20th.
On average, analysts expect that Eaton Vance will report full year earnings of $3.21 per share for the current financial year, with EPS estimates ranging from $3.19 to $3.23. For the next year, analysts anticipate that the business will post earnings of $3.66 per share, with EPS estimates ranging from $3.63 to $3.74. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Eaton Vance.
Eaton Vance (NYSE:EV) last released its quarterly earnings data on Wednesday, August 29th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. The business had revenue of $430.60 million for the quarter, compared to the consensus estimate of $430.11 million. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.
A number of equities analysts recently issued reports on the company. Citigroup dropped their price objective on Eaton Vance from $65.50 to $62.00 and set a “buy” rating for the company in a report on Thursday, May 31st. Zacks Investment Research upgraded Eaton Vance from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. ValuEngine cut Eaton Vance from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Finally, Credit Suisse Group boosted their price objective on Eaton Vance from $57.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, May 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $58.44.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Eaton Vance by 2.3% during the 2nd quarter. BlackRock Inc. now owns 11,879,833 shares of the asset manager’s stock valued at $620,009,000 after buying an additional 270,518 shares in the last quarter. Wells Fargo & Company MN increased its position in Eaton Vance by 3.9% during 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 in the last quarter. Janus Henderson Group PLC increased its position in Eaton Vance by 11.7% during 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 in the last quarter. JPMorgan Chase & Co. increased its position in Eaton Vance by 8.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,870,521 shares of the asset manager’s stock valued at $104,131,000 after buying an additional 142,961 shares in the last quarter. Finally, Earnest Partners LLC increased its position in Eaton Vance by 0.7% during the 1st quarter. Earnest Partners LLC now owns 1,787,288 shares of the asset manager’s stock valued at $99,498,000 after buying an additional 12,667 shares in the last quarter. 68.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Eaton Vance stock traded down $0.63 on Friday, reaching $51.54. The company had a trading volume of 17,698 shares, compared to its average volume of 478,729. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 0.88 and a beta of 1.62. The company has a debt-to-equity ratio of 0.69, a quick ratio of 8.05 and a current ratio of 8.35. Eaton Vance has a 1 year low of $45.06 and a 1 year high of $60.95.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Tuesday, July 31st were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Monday, July 30th. Eaton Vance’s payout ratio is 50.00%.
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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