Envestnet Inc (NYSE:ENV) Expected to Announce Earnings of $0.44 Per Share

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Brokerages forecast that Envestnet Inc (NYSE:ENV) will post $0.44 earnings per share for the current quarter, Zacks reports. Six analysts have issued estimates for Envestnet’s earnings. The highest EPS estimate is $0.45 and the lowest is $0.44. Envestnet posted earnings of $0.41 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The company is scheduled to issue its next quarterly earnings report on Tuesday, August 6th.

On average, analysts expect that Envestnet will report full-year earnings of $2.13 per share for the current fiscal year, with EPS estimates ranging from $2.09 to $2.15. For the next year, analysts forecast that the company will post earnings of $2.66 per share, with EPS estimates ranging from $2.60 to $2.75. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Envestnet.

Envestnet (NYSE:ENV) last posted its earnings results on Wednesday, May 8th. The business services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.04). The business had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $201.37 million. Envestnet had a positive return on equity of 10.28% and a negative net margin of 2.52%. Envestnet’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS.

Several research analysts have commented on ENV shares. Zacks Investment Research lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. UBS Group lifted their price target on Verisk Analytics from $106.00 to $111.00 and gave the stock a “sell” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lowered Aeroports de Paris from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 9th. SunTrust Banks lifted their price target on PepsiCo to $120.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. Finally, Raymond James reaffirmed a “hold” rating on shares of PrairieSky Royalty in a research report on Thursday, July 11th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Envestnet has an average rating of “Buy” and a consensus price target of $73.30.

ENV traded up $0.77 during trading on Tuesday, hitting $72.14. 303,432 shares of the stock were exchanged, compared to its average volume of 275,060. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 57.71, a P/E/G ratio of 3.17 and a beta of 1.70. Envestnet has a 1-year low of $46.57 and a 1-year high of $73.23. The company’s fifty day simple moving average is $69.79. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.60.

In other Envestnet news, insider Stuart Depina sold 4,805 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $71.21, for a total transaction of $342,164.05. Following the sale, the insider now directly owns 44,512 shares in the company, valued at $3,169,699.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Judson Bergman sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $72.46, for a total value of $1,086,900.00. Following the sale, the chief executive officer now owns 828,323 shares in the company, valued at $60,020,284.58. The disclosure for this sale can be found here. In the last three months, insiders sold 90,369 shares of company stock worth $6,296,322. Corporate insiders own 4.97% of the company’s stock.

Several large investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in Envestnet in the first quarter valued at about $50,000. Pittenger & Anderson Inc. boosted its holdings in Envestnet by 37.5% in the first quarter. Pittenger & Anderson Inc. now owns 1,375 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 375 shares during the last quarter. Huntington National Bank boosted its holdings in Envestnet by 27.3% in the first quarter. Huntington National Bank now owns 1,543 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 331 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Envestnet by 66.9% in the first quarter. Advisors Asset Management Inc. now owns 1,974 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 791 shares during the last quarter. Finally, CAPROCK Group Inc. purchased a new position in Envestnet in the first quarter valued at about $211,000. Institutional investors and hedge funds own 94.32% of the company’s stock.

About Envestnet

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide 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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