Envestnet (ENV) Updates FY 2019 Earnings Guidance

Envestnet (NYSE:ENV) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $2.05-2.12 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.07. The company issued revenue guidance of $868-880 million, compared to the consensus revenue estimate of $886.61 million.Envestnet also updated its FY19 guidance to $2.05-2.12 EPS.

A number of brokerages have recently issued reports on ENV. Rosenblatt Securities began coverage on Envestnet in a research report on Wednesday, December 5th. They set a buy rating and a $65.00 price objective for the company. ValuEngine downgraded Envestnet from a buy rating to a hold rating in a research report on Friday, January 4th. Zacks Investment Research downgraded Envestnet from a hold rating to a sell rating in a research report on Wednesday, January 16th. Buckingham Research began coverage on Envestnet in a research report on Thursday, January 10th. They set a buy rating and a $63.00 price objective for the company. Finally, UBS Group lowered their price objective on Envestnet from $67.00 to $64.00 and set a buy rating for the company in a research report on Tuesday, January 8th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Envestnet has an average rating of Buy and a consensus target price of $63.56.

ENV stock traded down $0.89 during mid-day trading on Thursday, reaching $55.56. The company’s stock had a trading volume of 311,908 shares, compared to its average volume of 209,698. The company has a market cap of $2.60 billion, a P/E ratio of 63.14, a PEG ratio of 2.27 and a beta of 1.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72. Envestnet has a 12 month low of $46.57 and a 12 month high of $64.80.

In other Envestnet news, insider Anil Arora sold 5,117 shares of the firm’s stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $53.92, for a total value of $275,908.64. Following the completion of the sale, the insider now owns 65,312 shares of the company’s stock, valued at $3,521,623.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joshua Mayer sold 2,616 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $55.00, for a total value of $143,880.00. Following the completion of the sale, the chief operating officer now directly owns 32,616 shares of the company’s stock, valued at approximately $1,793,880. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,486 shares of company stock valued at $461,056. 5.49% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION WARNING: This piece of content was posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.thelincolnianonline.com/2019/02/22/envestnet-env-updates-fy-2019-earnings-guidance.html.

About Envestnet

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 business 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.

See Also: How is inflation measured?

Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply