Zacks: Brokerages Expect Envestnet, Inc (NYSE:ENV) Will Announce Earnings of $0.18 Per Share
Analysts expect Envestnet, Inc (NYSE:ENV) to report earnings of $0.18 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Envestnet’s earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.19. Envestnet reported earnings per share of $0.01 in the same quarter last year, which would suggest a positive year over year growth rate of 1,700%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 8th.
On average, analysts expect that Envestnet will report full-year earnings of $0.87 per share for the current fiscal year, with EPS estimates ranging from $0.82 to $0.92. For the next financial year, analysts forecast that the firm will post earnings of $1.12 per share, with EPS estimates ranging from $1.00 to $1.22. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Envestnet.
Envestnet (NYSE:ENV) last posted its earnings results on Wednesday, May 10th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Envestnet had a negative net margin of 9.55% and a positive return on equity of 5.86%. The firm had revenue of $157.80 million during the quarter, compared to analyst estimates of $155.56 million. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue was up 19.5% compared to the same quarter last year.
Several equities analysts have recently weighed in on ENV shares. Zacks Investment Research downgraded Envestnet from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 25th. Jefferies Group LLC restated a “buy” rating and set a $48.00 price target on shares of Envestnet in a report on Friday, July 14th. BidaskClub upgraded Envestnet from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Royal Bank Of Canada restated a “hold” rating and set a $40.00 price target on shares of Envestnet in a report on Thursday, May 11th. Finally, William Blair restated a “buy” rating on shares of Envestnet in a report on Wednesday, June 28th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Envestnet currently has an average rating of “Buy” and an average price target of $43.60.
Shares of Envestnet (NYSE:ENV) opened at 38.25 on Friday. Envestnet has a 1-year low of $30.80 and a 1-year high of $41.47. The stock has a 50 day moving average of $38.88 and a 200 day moving average of $36.60. The company’s market cap is $1.68 billion.
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In related news, insider Scott D. Grinis sold 15,000 shares of Envestnet stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $39.21, for a total value of $588,150.00. Following the completion of the sale, the insider now directly owns 226,454 shares in the company, valued at approximately $8,879,261.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Roame acquired 1,473 shares of Envestnet stock in a transaction that occurred on Wednesday, May 31st. The stock was acquired at an average price of $35.38 per share, with a total value of $52,114.74. Following the completion of the acquisition, the director now directly owns 1,729 shares in the company, valued at approximately $61,172.02. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,968 shares of company stock valued at $145,287 and sold 32,972 shares valued at $1,300,284. 5.58% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in ENV. Ameritas Investment Partners Inc. acquired a new stake in Envestnet during the first quarter valued at approximately $116,000. Parallel Advisors LLC acquired a new stake in Envestnet during the first quarter valued at approximately $131,000. Gradient Investments LLC acquired a new stake in Envestnet during the second quarter valued at approximately $191,000. CI Investments Inc. acquired a new stake in Envestnet during the first quarter valued at approximately $194,000. Finally, Blueport Capital L.P. increased its stake in Envestnet by 69.9% in the first quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock valued at $202,000 after buying an additional 2,574 shares during the last quarter. Institutional investors own 99.92% of the company’s stock.
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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