Eaton Vance Corp (NYSE:EV) – Equities research analysts at Jefferies Financial Group cut their Q1 2019 earnings per share estimates for shares of Eaton Vance in a report released on Monday, December 3rd. Jefferies Financial Group analyst D. Fannon now anticipates that the asset manager will earn $0.80 per share for the quarter, down from their prior estimate of $0.81. Jefferies Financial Group has a “Hold” rating and a $42.00 price target on the stock. Jefferies Financial Group also issued estimates for Eaton Vance’s Q2 2019 earnings at $0.80 EPS.
A number of other brokerages have also weighed in on EV. Citigroup decreased their target price on shares of Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a research note on Thursday, August 30th. Zacks Investment Research lowered Eaton Vance from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Deutsche Bank reduced their price objective on Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 27th. ValuEngine lowered Eaton Vance from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $48.00 price objective on shares of Eaton Vance in a research note on Monday, November 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $52.25.
Shares of EV opened at $38.07 on Wednesday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 0.85 and a beta of 1.64. The company has a quick ratio of 8.35, a current ratio of 5.08 and a debt-to-equity ratio of 0.56. Eaton Vance has a 1-year low of $37.19 and a 1-year high of $60.95.
Eaton Vance (NYSE:EV) last announced its earnings results on Tuesday, November 27th. The asset manager reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. The business had revenue of $435.97 million during the quarter, compared to analyst estimates of $435.02 million. Eaton Vance had a net margin of 22.44% and a return on equity of 35.94%.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.68%. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, October 30th. Eaton Vance’s dividend payout ratio is 43.61%.
In related news, Director Brian D. Langstraat sold 13,000 shares of the company’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $47.50, for a total value of $617,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas E. Faust, Jr. sold 54,134 shares of the company’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $43.38, for a total transaction of $2,348,332.92. The disclosure for this sale can be found here. Insiders sold a total of 149,984 shares of company stock valued at $6,618,100 over the last 90 days.
Institutional investors have recently modified their holdings of the stock. Cerebellum GP LLC boosted its holdings in Eaton Vance by 525.0% in the 3rd quarter. Cerebellum GP LLC now owns 3,325 shares of the asset manager’s stock worth $175,000 after buying an additional 2,793 shares during the period. Korea Investment CORP bought a new position in Eaton Vance in the 2nd quarter worth $193,000. Daiwa SB Investments Ltd. bought a new position in Eaton Vance in the 3rd quarter worth $200,000. Caisse DE Depot ET Placement DU Quebec bought a new position in Eaton Vance in the 2nd quarter worth $227,000. Finally, Gideon Capital Advisors Inc. bought a new position in Eaton Vance in the 2nd quarter worth $232,000. 66.64% of the stock is owned by institutional investors.
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.
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