Zacks: Brokerages Expect Envestnet Inc (NYSE:ENV) Will Post Earnings of $0.68 Per Share

Analysts predict that Envestnet Inc (NYSE:ENV) will report earnings of $0.68 per share for the current quarter, Zacks reports. Five analysts have provided estimates for Envestnet’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.69. Envestnet reported earnings of $0.61 per share during the same quarter last year, which suggests a positive year over year growth rate of 11.5%. The firm is scheduled to report its next earnings report on Thursday, February 20th.

On average, analysts expect that Envestnet will report full year earnings of $2.14 per share for the current fiscal year, with EPS estimates ranging from $2.12 to $2.15. For the next financial year, analysts forecast that the business will post earnings of $2.54 per share, with EPS estimates ranging from $2.49 to $2.62. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Envestnet.

Envestnet (NYSE:ENV) last announced its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $236.08 million during the quarter, compared to analysts’ expectations of $233.02 million. Envestnet had a positive return on equity of 8.44% and a negative net margin of 2.35%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS.

Several analysts have weighed in on the company. Buckingham Research dropped their price objective on Envestnet from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, November 8th. ValuEngine cut Envestnet from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Zacks Investment Research cut Envestnet from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, DA Davidson boosted their target price on Envestnet from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Envestnet currently has a consensus rating of “Buy” and a consensus price target of $74.00.

NYSE:ENV traded up $0.08 on Thursday, hitting $64.88. 346,532 shares of the stock were exchanged, compared to its average volume of 329,231. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 51.90, a P/E/G ratio of 2.77 and a beta of 1.76. Envestnet has a 52 week low of $46.57 and a 52 week high of $73.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.46 and a current ratio of 0.46. The company’s 50-day moving average price is $60.85 and its 200 day moving average price is $64.31.

In other news, Director Anil Arora sold 4,476 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.90, for a total transaction of $290,492.40. Following the completion of the transaction, the director now directly owns 28,104 shares in the company, valued at approximately $1,823,949.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter D’arrigo sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $62.50, for a total value of $312,500.00. Following the completion of the transaction, the chief financial officer now owns 57,747 shares of the company’s stock, valued at $3,609,187.50. The disclosure for this sale can be found here. Insiders have sold a total of 110,714 shares of company stock valued at $6,542,911 over the last 90 days. Corporate insiders own 4.97% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. TRUE Private Wealth Advisors acquired a new position in shares of Envestnet in the 2nd quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale bought a new stake in Envestnet in the 2nd quarter valued at approximately $34,000. Hudock Capital Group LLC bought a new stake in Envestnet in the 2nd quarter valued at approximately $46,000. Marshall Wace LLP bought a new stake in Envestnet in the 1st quarter valued at approximately $50,000. Finally, SRS Capital Advisors Inc. bought a new stake in Envestnet in the 2nd quarter valued at approximately $83,000. Institutional investors and hedge funds own 97.25% of the company’s stock.

Envestnet Company Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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