Zacks: Brokerages Anticipate Envestnet, Inc (ENV) Will Announce Earnings of $0.39 Per Share
Equities analysts predict that Envestnet, Inc (NYSE:ENV) will post earnings per share of $0.39 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Envestnet’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.39. Envestnet reported earnings per share of $0.32 during the same quarter last year, which would indicate a positive year over year growth rate of 21.9%. The company is expected to announce its next quarterly earnings results on Thursday, March 22nd.
According to Zacks, analysts expect that Envestnet will report full-year earnings of $1.30 per share for the current year, with EPS estimates ranging from $1.28 to $1.31. For the next fiscal year, analysts forecast that the firm will report earnings of $1.60 per share, with EPS estimates ranging from $1.52 to $1.65. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Envestnet.
Envestnet (NYSE:ENV) last released its earnings results on Wednesday, November 8th. The business services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Envestnet had a positive return on equity of 8.92% and a negative net margin of 8.15%. The business had revenue of $175.61 million for the quarter, compared to the consensus estimate of $171.57 million. During the same period last year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year.
ENV has been the topic of a number of recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $52.00 target price on shares of Envestnet in a research report on Tuesday, September 26th. Raymond James Financial, Inc. lifted their target price on Envestnet from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised Envestnet from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, October 10th. UBS AG reissued a “buy” rating and set a $63.00 target price (up from $50.00) on shares of Envestnet in a research report on Monday, October 9th. Finally, Jefferies Group LLC lifted their target price on Envestnet from $47.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Envestnet currently has a consensus rating of “Buy” and an average price target of $55.13.
Envestnet (NYSE:ENV) traded up $0.40 during mid-day trading on Monday, reaching $49.95. The company had a trading volume of 56,500 shares, compared to its average volume of 268,687. Envestnet has a fifty-two week low of $30.80 and a fifty-two week high of $55.15. The firm has a market capitalization of $2,213.08, a P/E ratio of 64.04, a PEG ratio of 3.71 and a beta of 1.97. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.63.
In other Envestnet news, CFO Peter D’arrigo sold 30,000 shares of Envestnet stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $51.49, for a total transaction of $1,544,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President William Crager sold 5,000 shares of Envestnet stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $53.31, for a total value of $266,550.00. Following the sale, the president now directly owns 150,555 shares in the company, valued at $8,026,087.05. The disclosure for this sale can be found here. Insiders have sold 160,464 shares of company stock worth $8,217,883 over the last ninety days. Company insiders own 7.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its holdings in Envestnet by 13.0% during the second quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 379 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Envestnet by 5.7% during the second quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 204 shares in the last quarter. Zions Bancorporation acquired a new stake in Envestnet during the third quarter valued at approximately $181,000. Personal Capital Advisors Corp acquired a new stake in Envestnet during the third quarter valued at approximately $203,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Envestnet by 525.9% during the second quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock valued at $204,000 after purchasing an additional 4,328 shares in the last quarter. 93.28% of the stock is currently owned by institutional investors.
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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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