Eaton Vance (EV) Releases Earnings Results, Hits Estimates

Eaton Vance (NYSE:EV) posted its earnings results on Tuesday. The asset manager reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77, Bloomberg Earnings reports. Eaton Vance had a return on equity of 34.09% and a net margin of 18.77%. The company had revenue of $414.30 million for the quarter, compared to analyst estimates of $421.71 million. During the same quarter last year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis.

Shares of EV opened at $55.72 on Wednesday. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 0.77 and a beta of 1.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 9.40 and a current ratio of 9.40. Eaton Vance has a 1 year low of $44.91 and a 1 year high of $60.95.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, April 27th. This represents a $1.24 annualized dividend and a dividend yield of 2.23%. Eaton Vance’s payout ratio is presently 50.00%.

Institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors bought a new stake in shares of Eaton Vance in the fourth quarter valued at $114,000. Cerebellum GP LLC bought a new stake in shares of Eaton Vance in the fourth quarter valued at $128,000. Synovus Financial Corp bought a new stake in shares of Eaton Vance in the first quarter valued at $182,000. TLP Group LLC raised its stake in shares of Eaton Vance by 6,198.3% in the first quarter. TLP Group LLC now owns 3,653 shares of the asset manager’s stock valued at $203,000 after buying an additional 3,595 shares during the period. Finally, Hyman Charles D bought a new stake in shares of Eaton Vance in the fourth quarter valued at $209,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

A number of research firms have recently weighed in on EV. Citigroup raised their target price on Eaton Vance from $63.50 to $65.50 and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded Eaton Vance from a “sell” rating to a “hold” rating in a report on Friday, May 18th. ValuEngine upgraded Eaton Vance from a “hold” rating to a “buy” rating in a report on Monday, May 7th. Bank of America upgraded Eaton Vance from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, May 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $59.00 price target on shares of Eaton Vance in a report on Wednesday, April 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $57.69.

Eaton Vance Company Profile

Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.

Earnings History for Eaton Vance (NYSE:EV)

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