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.
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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