$0.86 EPS Expected for Eaton Vance Corp (EV) This Quarter

Equities research analysts predict that Eaton Vance Corp (NYSE:EV) will post earnings per share of $0.86 for the current quarter, Zacks reports. Three analysts have provided estimates for Eaton Vance’s earnings, with estimates ranging from $0.83 to $0.89. Eaton Vance reported earnings per share of $0.70 in the same quarter last year, which suggests a positive year over year growth rate of 22.9%. The business is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, November 27th.

According to Zacks, analysts expect that Eaton Vance will report full year earnings of $3.21 per share for the current fiscal year, with EPS estimates ranging from $3.19 to $3.23. For the next year, analysts anticipate that the firm will report earnings of $3.65 per share, with EPS estimates ranging from $3.59 to $3.74. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Eaton Vance.

Eaton Vance (NYSE:EV) last announced its quarterly earnings results on Wednesday, August 29th. The asset manager reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Eaton Vance had a net margin of 21.44% and a return on equity of 34.91%. The company had revenue of $430.60 million for the quarter, compared to analyst estimates of $430.11 million. During the same quarter in the prior year, the business posted $0.62 EPS. Eaton Vance’s quarterly revenue was up 9.4% on a year-over-year basis.

Several research analysts have recently commented on the stock. Citigroup dropped their price target on shares of Eaton Vance from $62.00 to $60.50 and set a “buy” rating on the stock in a research note on Thursday, August 30th. ValuEngine lowered shares of Eaton Vance from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Zacks Investment Research lowered shares of Eaton Vance from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Finally, Deutsche Bank dropped their price target on shares of Eaton Vance from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $60.07.

In related news, Director Brian D. Langstraat sold 13,000 shares of the firm’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $47.50, for a total value of $617,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas E. Faust, Jr. sold 54,134 shares of the firm’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $43.38, for a total transaction of $2,348,332.92. The disclosure for this sale can be found here. Insiders sold a total of 149,984 shares of company stock worth $6,618,100 over the last quarter.

Institutional investors have recently modified their holdings of the business. Zebra Capital Management LLC boosted its holdings in Eaton Vance by 107.1% in the 2nd quarter. Zebra Capital Management LLC now owns 19,920 shares of the asset manager’s stock valued at $1,040,000 after purchasing an additional 10,303 shares during the period. Korea Investment CORP bought a new stake in Eaton Vance in the 2nd quarter valued at $193,000. Schwab Charles Investment Management Inc. boosted its holdings in Eaton Vance by 5.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 910,937 shares of the asset manager’s stock valued at $47,542,000 after purchasing an additional 43,271 shares during the period. Laurion Capital Management LP bought a new stake in Eaton Vance in the 2nd quarter valued at $236,000. Finally, Legal & General Group Plc boosted its holdings in Eaton Vance by 11.5% in the 1st quarter. Legal & General Group Plc now owns 260,541 shares of the asset manager’s stock valued at $14,504,000 after purchasing an additional 26,948 shares during the period. 68.38% of the stock is owned by hedge funds and other institutional investors.

Shares of EV traded down $0.06 during mid-day trading on Tuesday, hitting $45.44. 680,349 shares of the company’s stock were exchanged, compared to its average volume of 985,203. Eaton Vance has a twelve month low of $42.16 and a twelve month high of $60.95. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 0.67 and a beta of 1.65. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.14.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a $0.35 dividend. The ex-dividend date is Tuesday, October 30th. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a yield of 3.08%. Eaton Vance’s dividend payout ratio (DPR) is presently 56.45%.

About Eaton Vance

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.

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Earnings History and Estimates for Eaton Vance (NYSE:EV)

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