$0.71 Earnings Per Share Expected for Eaton Vance Corporation (EV) This Quarter
Equities research analysts forecast that Eaton Vance Corporation (NYSE:EV) will report earnings per share (EPS) of $0.71 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Eaton Vance Corporation’s earnings. The lowest EPS estimate is $0.70 and the highest is $0.72. Eaton Vance Corporation posted earnings per share of $0.57 during the same quarter last year, which suggests a positive year over year growth rate of 24.6%. The company is scheduled to announce its next earnings report before the market opens on Tuesday, November 21st.
On average, analysts expect that Eaton Vance Corporation will report full-year earnings of $2.47 per share for the current fiscal year, with EPS estimates ranging from $2.43 to $2.49. For the next financial year, analysts forecast that the company will report earnings of $2.99 per share, with EPS estimates ranging from $2.92 to $3.12. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Eaton Vance Corporation.
Eaton Vance Corporation (NYSE:EV) last issued its quarterly earnings data on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.05). The company had revenue of $393.70 million during the quarter, compared to the consensus estimate of $398.74 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. Eaton Vance Corporation’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 EPS.
Several equities analysts have issued reports on EV shares. BidaskClub cut shares of Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Zacks Investment Research upgraded shares of Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, November 2nd. J P Morgan Chase & Co upgraded shares of Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 price target for the company in a research report on Thursday, August 24th. Credit Suisse Group upped their price target on shares of Eaton Vance Corporation from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, August 11th. Finally, Deutsche Bank AG started coverage on shares of Eaton Vance Corporation in a research report on Tuesday, October 17th. They issued a “buy” rating and a $57.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Eaton Vance Corporation presently has an average rating of “Hold” and a consensus price target of $52.06.
In other Eaton Vance Corporation news, CEO Matthew J. Witkos sold 82,617 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $51.27, for a total value of $4,235,773.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dorothy E. Puhy sold 5,953 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $51.08, for a total transaction of $304,079.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 596,037 shares of company stock valued at $29,808,641.
Large investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. grew its holdings in Eaton Vance Corporation by 437.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,031 shares of the asset manager’s stock worth $100,000 after purchasing an additional 1,653 shares during the period. WFG Advisors LP grew its holdings in Eaton Vance Corporation by 0.6% in the second quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock worth $111,000 after purchasing an additional 14 shares during the period. Pacad Investment Ltd. acquired a new stake in Eaton Vance Corporation in the second quarter worth $166,000. Northwestern Mutual Wealth Management Co. grew its holdings in Eaton Vance Corporation by 44.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock worth $199,000 after purchasing an additional 1,296 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in Eaton Vance Corporation in the third quarter worth $200,000. Institutional investors and hedge funds own 69.49% of the company’s stock.
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Shares of Eaton Vance Corporation (EV) traded up $0.48 during midday trading on Friday, reaching $52.27. 837,534 shares of the company’s stock traded hands, compared to its average volume of 610,499. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.74 and a current ratio of 5.74. Eaton Vance Corporation has a 1 year low of $38.98 and a 1 year high of $52.63. The firm has a market cap of $6,016.09, a PE ratio of 22.13, a P/E/G ratio of 0.99 and a beta of 1.86.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, October 30th. This is a boost from Eaton Vance Corporation’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 2.37%. Eaton Vance Corporation’s dividend payout ratio is 53.91%.
About Eaton Vance Corporation
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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