Wall Street brokerages predict that Eaton Vance Corp (NYSE:EV) will report $0.86 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Eaton Vance’s earnings. The highest EPS estimate is $0.89 and the lowest is $0.85. Eaton Vance reported earnings per share of $0.82 during the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The business is expected to issue its next quarterly earnings results on Wednesday, September 4th.
On average, analysts expect that Eaton Vance will report full year earnings of $3.33 per share for the current fiscal year, with EPS estimates ranging from $3.24 to $3.40. For the next year, analysts anticipate that the company will report earnings of $3.51 per share, with EPS estimates ranging from $3.39 to $3.57. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow Eaton Vance.
Eaton Vance (NYSE:EV) last announced its earnings results on Tuesday, May 21st. The asset manager reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.13. The business had revenue of $411.86 million for the quarter, compared to the consensus estimate of $411.42 million. Eaton Vance had a net margin of 23.50% and a return on equity of 35.53%. Eaton Vance’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm posted $0.77 earnings per share.
Several research analysts have commented on EV shares. Zacks Investment Research raised shares of Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, April 30th. Bank of America downgraded shares of Eaton Vance from a “buy” rating to an “underperform” rating in a research note on Monday, May 20th. Finally, ValuEngine downgraded shares of Eaton Vance from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $41.86.
In other Eaton Vance news, Director Brian D. Langstraat sold 7,740 shares of Eaton Vance stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $41.76, for a total transaction of $323,222.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several institutional investors have recently modified their holdings of the company. Brown Advisory Inc. grew its holdings in shares of Eaton Vance by 0.3% in the fourth quarter. Brown Advisory Inc. now owns 76,827 shares of the asset manager’s stock worth $2,703,000 after purchasing an additional 250 shares during the last quarter. Wade G W & Inc. grew its holdings in shares of Eaton Vance by 0.3% in the fourth quarter. Wade G W & Inc. now owns 105,313 shares of the asset manager’s stock worth $3,705,000 after purchasing an additional 280 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Eaton Vance by 2.3% in the first quarter. Oppenheimer & Co. Inc. now owns 12,976 shares of the asset manager’s stock worth $523,000 after purchasing an additional 289 shares during the last quarter. BOKF NA grew its holdings in shares of Eaton Vance by 2.4% in the fourth quarter. BOKF NA now owns 14,938 shares of the asset manager’s stock worth $526,000 after purchasing an additional 355 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of Eaton Vance by 28.5% in the first quarter. Strs Ohio now owns 1,706 shares of the asset manager’s stock worth $68,000 after purchasing an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 69.56% of the company’s stock.
EV stock opened at $40.14 on Friday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 3.06 and a beta of 1.60. Eaton Vance has a one year low of $32.28 and a one year high of $57.05. The company has a current ratio of 6.56, a quick ratio of 13.48 and a debt-to-equity ratio of 1.49.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Monday, April 29th. Eaton Vance’s dividend payout ratio (DPR) is presently 43.61%.
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.
Further Reading: Benefits of owning preferred stock
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eaton Vance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Vance and related companies with MarketBeat.com's FREE daily email newsletter.