FY2017 Earnings Estimate for Eaton Vance Corporation (EV) Issued By William Blair
Eaton Vance Corporation (NYSE:EV) – Stock analysts at William Blair cut their FY2017 earnings per share estimates for Eaton Vance Corporation in a report released on Wednesday. William Blair analyst C. Shutler now forecasts that the asset manager will post earnings of $2.43 per share for the year, down from their prior estimate of $2.48.
Several other equities research analysts also recently commented on EV. Credit Suisse Group lifted their price objective on Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, August 11th. Zacks Investment Research downgraded Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. J P Morgan Chase & Co upgraded Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 price objective for the company in a report on Thursday, August 24th. Jefferies Group LLC restated a “hold” rating and set a $45.00 price target on shares of Eaton Vance Corporation in a research note on Wednesday, June 28th. Finally, BidaskClub downgraded Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $50.21.
Shares of Eaton Vance Corporation (NYSE EV) opened at 46.97 on Monday. Eaton Vance Corporation has a 52 week low of $34.44 and a 52 week high of $50.10. The firm has a market cap of $5.23 billion, a PE ratio of 20.42 and a beta of 1.84. The firm has a 50-day moving average of $48.07 and a 200-day moving average of $46.15.
Eaton Vance Corporation (NYSE:EV) last announced its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by $0.05. The firm had revenue of $393.70 million during the quarter, compared to analyst estimates of $398.74 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.38%. Eaton Vance Corporation’s dividend payout ratio is currently 48.70%.
In other news, CEO Matthew J. Witkos sold 40,000 shares of Eaton Vance Corporation stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $48.08, for a total transaction of $1,923,200.00. Following the transaction, the chief executive officer now directly owns 243,688 shares of the company’s stock, valued at approximately $11,716,519.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Winthrop H. Smith, Jr. sold 21,885 shares of Eaton Vance Corporation stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $48.03, for a total value of $1,051,136.55. Following the transaction, the director now directly owns 15,420 shares in the company, valued at $740,622.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,943 shares of company stock valued at $6,149,649.
Several hedge funds and other institutional investors have recently bought and sold shares of EV. WFG Advisors LP boosted its position 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 buying an additional 14 shares during the last quarter. Advisor Group Inc. boosted its position in Eaton Vance Corporation by 1.0% in the second quarter. Advisor Group Inc. now owns 4,782 shares of the asset manager’s stock worth $225,000 after buying an additional 47 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in Eaton Vance Corporation by 1.0% in the second quarter. Stratos Wealth Partners LTD. now owns 5,081 shares of the asset manager’s stock worth $240,000 after buying an additional 49 shares during the last quarter. Bank of The West boosted its position in Eaton Vance Corporation by 0.6% in the second quarter. Bank of The West now owns 7,804 shares of the asset manager’s stock worth $369,000 after buying an additional 50 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Eaton Vance Corporation by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 25,708 shares of the asset manager’s stock worth $1,157,000 after buying an additional 114 shares during the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.
Eaton Vance Corporation Company Profile
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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