Eaton Vance Corp (NYSE:EV) Receives $43.75 Consensus Target Price from Analysts

Shares of Eaton Vance Corp (NYSE:EV) have earned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $43.75.

A number of brokerages have issued reports on EV. Deutsche Bank decreased their price target on Eaton Vance from $41.00 to $37.00 and set a “hold” rating on the stock in a research note on Thursday, July 9th. Credit Suisse Group lifted their price objective on Eaton Vance from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. ValuEngine lowered Eaton Vance from a “hold” rating to a “sell” rating in a research note on Friday, August 21st. TheStreet upgraded Eaton Vance from a “c” rating to a “b-” rating in a report on Friday, June 19th. Finally, Citigroup boosted their price objective on Eaton Vance from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th.

NYSE:EV opened at $38.33 on Friday. Eaton Vance has a 1 year low of $23.59 and a 1 year high of $51.79. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 2.04 and a beta of 1.46. The stock has a fifty day moving average price of $38.78 and a two-hundred day moving average price of $36.73.

Eaton Vance (NYSE:EV) last announced its quarterly earnings results on Wednesday, August 26th. The asset manager reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. Eaton Vance had a return on equity of 31.17% and a net margin of 16.56%. The business had revenue of $420.80 million during the quarter, compared to analysts’ expectations of $411.05 million. During the same quarter last year, the business posted $0.90 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts anticipate that Eaton Vance will post 3.33 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of EV. Wells Fargo & Company MN boosted its position in Eaton Vance by 3.0% in the 1st quarter. Wells Fargo & Company MN now owns 5,398,478 shares of the asset manager’s stock valued at $174,101,000 after buying an additional 155,488 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Eaton Vance by 6.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,986,289 shares of the asset manager’s stock worth $64,057,000 after purchasing an additional 120,511 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Eaton Vance by 2.4% in the 1st quarter. Geode Capital Management LLC now owns 1,643,905 shares of the asset manager’s stock worth $52,980,000 after purchasing an additional 37,767 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Eaton Vance by 21.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,561,596 shares of the asset manager’s stock worth $60,278,000 after purchasing an additional 272,061 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its position in shares of Eaton Vance by 6.9% in the 2nd quarter. Boston Trust Walden Corp now owns 1,015,166 shares of the asset manager’s stock worth $39,185,000 after purchasing an additional 65,200 shares during the last quarter. 68.35% of the stock is owned by hedge funds and other institutional investors.

About Eaton Vance

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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Analyst Recommendations for Eaton Vance (NYSE:EV)

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