Equities research analysts expect that Eaton Vance Corp (NYSE:EV) will report $422.20 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Eaton Vance’s earnings, with the highest sales estimate coming in at $427.82 million and the lowest estimate coming in at $416.17 million. Eaton Vance posted sales of $374.63 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.7%. The business is expected to issue its next quarterly earnings results on Wednesday, May 23rd.
On average, analysts expect that Eaton Vance will report full-year sales of $422.20 million for the current fiscal year, with estimates ranging from $1.72 billion to $1.75 billion. For the next year, analysts anticipate that the firm will post sales of $1.85 billion per share, with estimates ranging from $1.83 billion to $1.88 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Eaton Vance.
Eaton Vance (NYSE:EV) last announced its quarterly earnings results on Tuesday, February 27th. The asset manager reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Eaton Vance had a return on equity of 34.09% and a net margin of 18.77%. The firm had revenue of $421.40 million for the quarter, compared to analysts’ expectations of $420.62 million. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s revenue was up 18.7% on a year-over-year basis.
Several brokerages have recently weighed in on EV. Deutsche Bank decreased their price target on Eaton Vance from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, March 6th. Zacks Investment Research cut Eaton Vance from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. JPMorgan Chase & Co. set a $58.00 price target on Eaton Vance and gave the company a “hold” rating in a research report on Wednesday, February 21st. Finally, ValuEngine upgraded Eaton Vance from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $55.19.
Shares of Eaton Vance stock traded down $0.42 on Friday, hitting $56.68. The stock had a trading volume of 482,627 shares, compared to its average volume of 803,684. Eaton Vance has a 12-month low of $42.20 and a 12-month high of $60.95. The company has a market capitalization of $6,856.04, a PE ratio of 22.49, a PEG ratio of 0.66 and a beta of 1.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 9.40 and a current ratio of 9.40.
In related news, Director Dorothy E. Puhy sold 9,490 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $60.49, for a total value of $574,050.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Witkos sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $60.35, for a total transaction of $1,508,750.00. The disclosure for this sale can be found here.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Eaton Vance by 5.0% in the fourth quarter. BlackRock Inc. now owns 11,297,677 shares of the asset manager’s stock worth $637,078,000 after buying an additional 533,248 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Eaton Vance by 33.7% in the third quarter. Bank of New York Mellon Corp now owns 4,421,942 shares of the asset manager’s stock worth $218,311,000 after buying an additional 1,113,748 shares in the last quarter. Earnest Partners LLC boosted its stake in Eaton Vance by 0.5% in the third quarter. Earnest Partners LLC now owns 1,795,310 shares of the asset manager’s stock worth $88,634,000 after buying an additional 8,804 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Eaton Vance by 2.7% in the third quarter. JPMorgan Chase & Co. now owns 1,768,996 shares of the asset manager’s stock worth $87,689,000 after buying an additional 46,140 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Eaton Vance by 199.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,576,133 shares of the asset manager’s stock worth $88,879,000 after buying an additional 1,049,947 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.
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About Eaton Vance
Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.
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