Eaton Vance Corporation (EV) Issues Earnings Results
Eaton Vance Corporation (NYSE:EV) released its quarterly earnings results on Tuesday. The asset manager reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01), Briefing.com reports. Eaton Vance Corporation had a net margin of 18.45% and a return on equity of 33.45%. The business had revenue of $405.70 million during the quarter, compared to analysts’ expectations of $407.75 million. During the same quarter last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year.
Shares of Eaton Vance Corporation (EV) opened at $52.98 on Thursday. The company has a market capitalization of $6,270.00, a PE ratio of 21.13, a P/E/G ratio of 1.00 and a beta of 1.85. Eaton Vance Corporation has a 1-year low of $39.59 and a 1-year high of $53.10. The company has a current ratio of 1.85, a quick ratio of 5.74 and a debt-to-equity ratio of 0.01.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.34%. This is a positive change from Eaton Vance Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, October 30th. Eaton Vance Corporation’s dividend payout ratio (DPR) is 51.24%.
A number of research analysts have recently weighed in on EV shares. BidaskClub lowered Eaton Vance Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research lowered Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Credit Suisse Group increased their price objective on Eaton Vance Corporation from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, August 11th. Jefferies Group LLC reissued a “hold” rating and issued a $46.00 price objective on shares of Eaton Vance Corporation in a report on Friday, August 18th. Finally, J P Morgan Chase & Co raised Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 price objective on the stock in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $52.06.
In related news, Director Dorothy E. Puhy sold 5,953 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $51.08, for a total transaction of $304,079.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Frederick S. Marius sold 8,915 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $47.55, for a total value of $423,908.25. Following the sale, the insider now directly owns 30,955 shares in the company, valued at $1,471,910.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 596,037 shares of company stock worth $29,808,641.
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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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