Equities research analysts expect that Eaton Vance Corp (NYSE:EV) will announce sales of $412.61 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Eaton Vance’s earnings, with estimates ranging from $411.81 million to $413.41 million. Eaton Vance reported sales of $354.96 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.2%. The company is expected to issue its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Eaton Vance will report full-year sales of $412.61 million for the current fiscal year, with estimates ranging from $1.67 billion to $1.70 billion. For the next year, analysts forecast that the firm will report sales of $1.79 billion per share, with estimates ranging from $1.77 billion to $1.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Eaton Vance.
Eaton Vance (NYSE:EV) last announced its quarterly earnings data on Tuesday, November 21st. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The business had revenue of $405.70 million during the quarter, compared to the consensus estimate of $407.75 million. Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Eaton Vance from a “buy” rating to a “hold” rating in a research report on Monday, November 27th. ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $53.00 price target on shares of Eaton Vance in a research report on Friday, November 10th. Bank of America upped their price target on Eaton Vance from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Finally, Jefferies Group reaffirmed a “hold” rating and set a $46.00 price target on shares of Eaton Vance in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Eaton Vance presently has an average rating of “Hold” and an average price target of $52.06.
In related news, insider Payson F. Swaffield sold 71,739 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $51.81, for a total transaction of $3,716,797.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dorothy E. Puhy sold 5,953 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $51.08, for a total value of $304,079.24. The disclosure for this sale can be found here. Insiders have sold a total of 559,833 shares of company stock worth $28,073,360 in the last three months.
Several large investors have recently added to or reduced their stakes in EV. Janus Henderson Group PLC raised its holdings in shares of Eaton Vance by 13,411.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,557,593 shares of the asset manager’s stock valued at $73,705,000 after acquiring an additional 1,546,065 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Eaton Vance by 33.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,421,942 shares of the asset manager’s stock valued at $218,311,000 after acquiring an additional 1,113,748 shares in the last quarter. Junto Capital Management LP purchased a new stake in shares of Eaton Vance in the 2nd quarter valued at about $33,813,000. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Eaton Vance by 177.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 347,511 shares of the asset manager’s stock valued at $16,444,000 after acquiring an additional 222,268 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its holdings in shares of Eaton Vance by 579.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 239,882 shares of the asset manager’s stock valued at $11,351,000 after acquiring an additional 204,575 shares in the last quarter. 68.73% of the stock is currently owned by hedge funds and other institutional investors.
Eaton Vance (NYSE:EV) opened at $57.04 on Thursday. Eaton Vance has a 1 year low of $41.40 and a 1 year high of $57.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.74 and a current ratio of 1.85. The company has a market capitalization of $6,660.00, a price-to-earnings ratio of 22.92, a PEG ratio of 0.94 and a beta of 1.89.
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About Eaton Vance
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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