Brokerages forecast that Eaton Vance Corp (NYSE:EV) will report $442.36 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 $443.40 million and the lowest estimate coming in at $441.41 million. Eaton Vance reported sales of $405.67 million in the same quarter last year, which would suggest a positive year over year growth rate of 9%. The company is scheduled to report its next earnings results on Tuesday, November 20th.
According to Zacks, analysts expect that Eaton Vance will report full-year sales of $1.71 billion for the current year. For the next year, analysts expect that the company will post sales of $1.83 billion, with estimates ranging from $1.82 billion to $1.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Eaton Vance.
Eaton Vance (NYSE:EV) last posted its earnings results on Wednesday, August 29th. The asset manager reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Eaton Vance had a net margin of 21.44% and a return on equity of 34.91%. The firm had revenue of $430.60 million during the quarter, compared to analyst estimates of $430.11 million. During the same period last year, the firm posted $0.62 earnings per share. Eaton Vance’s revenue for the quarter was up 9.4% compared to the same quarter last year.
A number of research firms recently weighed in on EV. Citigroup cut their target price on shares of Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a report on Thursday, August 30th. Zacks Investment Research lowered shares of Eaton Vance from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Finally, Deutsche Bank cut their target price on shares of Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $58.31.
Shares of EV stock traded down $0.42 on Monday, reaching $46.24. The company’s stock had a trading volume of 726,366 shares, compared to its average volume of 606,074. Eaton Vance has a 1 year low of $45.72 and a 1 year high of $60.95. The company has a debt-to-equity ratio of 1.14, a quick ratio of 8.35 and a current ratio of 8.35. The firm has a market cap of $6.20 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 0.88 and a beta of 1.63.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.03%. Eaton Vance’s dividend payout ratio (DPR) is 50.00%.
In other Eaton Vance news, Director Brian D. Langstraat sold 13,000 shares of Eaton Vance stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $47.50, for a total transaction of $617,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
A number of hedge funds and other institutional investors have recently bought and sold shares of EV. Mount Yale Investment Advisors LLC purchased a new position in Eaton Vance during the first quarter worth $103,000. Clarus Wealth Advisors purchased a new position in Eaton Vance during the second quarter worth $131,000. Cerebellum GP LLC boosted its stake in Eaton Vance by 525.0% during the third 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. Sit Investment Associates Inc. boosted its stake in Eaton Vance by 44.3% during the second quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock worth $183,000 after buying an additional 1,075 shares during the period. Finally, Korea Investment CORP purchased a new position in Eaton Vance during the second quarter worth $193,000. 68.40% 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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