Equities research analysts forecast that Envestnet Inc (NYSE:ENV) will announce $0.58 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Envestnet’s earnings. The lowest EPS estimate is $0.57 and the highest is $0.59. Envestnet reported earnings of $0.53 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 9.4%. The company is expected to report its next quarterly earnings report on Wednesday, November 6th.
According to Zacks, analysts expect that Envestnet will report full year earnings of $2.12 per share for the current financial year, with EPS estimates ranging from $2.10 to $2.14. For the next year, analysts expect that the firm will report earnings of $2.52 per share, with EPS estimates ranging from $2.41 to $2.62. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Envestnet.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. The firm had revenue of $227.90 million for the quarter, compared to analysts’ expectations of $225.34 million. During the same period in the prior year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis.
ENV has been the topic of a number of recent research reports. Zacks Investment Research cut Envestnet from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. ValuEngine cut Envestnet from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. DA Davidson raised Envestnet from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Tuesday, October 1st. Finally, Raymond James upped their price target on Envestnet from $82.00 to $83.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Envestnet currently has an average rating of “Buy” and an average price target of $73.78.
Shares of NYSE ENV traded down $0.31 during trading on Tuesday, reaching $60.17. 318,636 shares of the stock traded hands, compared to its average volume of 324,578. Envestnet has a 52-week low of $46.57 and a 52-week high of $73.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.54 and a quick ratio of 0.54. The company has a 50-day moving average of $58.48 and a 200-day moving average of $65.07. The stock has a market capitalization of $3.15 billion, a P/E ratio of 48.14, a price-to-earnings-growth ratio of 2.69 and a beta of 1.74.
In other Envestnet news, CEO William Crager sold 9,094 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $59.45, for a total value of $540,638.30. Following the transaction, the chief executive officer now directly owns 232,788 shares in the company, valued at approximately $13,839,246.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joshua Mayer sold 500 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.82, for a total value of $34,910.00. Following the completion of the transaction, the chief operating officer now owns 28,102 shares in the company, valued at $1,962,081.64. The disclosure for this sale can be found here. Insiders have sold a total of 123,200 shares of company stock worth $7,290,093 in the last three months. 4.97% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ENV. TRUE Private Wealth Advisors bought a new position in shares of Envestnet during the 2nd quarter valued at about $27,000. DekaBank Deutsche Girozentrale bought a new position in shares of Envestnet during the 2nd quarter valued at about $34,000. Hudock Capital Group LLC bought a new position in shares of Envestnet during the 2nd quarter valued at about $46,000. Marshall Wace LLP bought a new position in shares of Envestnet during the 1st quarter valued at about $50,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of Envestnet during the 2nd quarter valued at about $83,000. Institutional investors and hedge funds own 89.43% of the company’s stock.
Envestnet Company Profile
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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