Wall Street analysts expect Eaton Vance Corporation (NYSE:EV) to report sales of $409.74 million for the current quarter, Zacks reports. Three analysts have provided estimates for Eaton Vance Corporation’s earnings, with the lowest sales estimate coming in at $406.24 million and the highest estimate coming in at $412.59 million. Eaton Vance Corporation reported sales of $346.85 million in the same quarter last year, which indicates a positive year over year growth rate of 18.1%. The company is expected to report its next quarterly earnings report on Tuesday, November 28th.
On average, analysts expect that Eaton Vance Corporation will report full-year sales of $409.74 million for the current year, with estimates ranging from $1.53 billion to $1.55 billion. For the next financial year, analysts expect that the business will post sales of $1.70 billion per share, with estimates ranging from $1.67 billion to $1.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Eaton Vance Corporation.
Eaton Vance Corporation (NYSE:EV) last released its quarterly earnings data on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $393.70 million for the quarter, compared to the consensus estimate of $398.74 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share.
A number of research firms have commented on EV. BidaskClub lowered Eaton Vance Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. J P Morgan Chase & Co restated an “underweight” rating and set a $47.00 price objective (up previously from $40.00) on shares of Eaton Vance Corporation in a research note on Tuesday, June 6th. Zacks Investment Research upgraded Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Thursday, June 8th. Bank of America Corporation raised their price objective on Eaton Vance Corporation from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, May 25th. Finally, Citigroup Inc. lifted their price target on Eaton Vance Corporation from $46.50 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $50.21.
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Shares of Eaton Vance Corporation (NYSE:EV) opened at 48.02 on Friday. The stock’s 50 day moving average price is $47.26 and its 200-day moving average price is $46.38. The company has a market capitalization of $5.38 billion, a PE ratio of 20.88 and a beta of 1.85. Eaton Vance Corporation has a 52-week low of $34.44 and a 52-week high of $50.10.
In related news, Director Leo I. Higdon, Jr. sold 6,865 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $48.08, for a total transaction of $330,069.20. Following the sale, the director now owns 11,626 shares in the company, valued at approximately $558,978.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey P. Beale sold 39,343 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $48.30, for a total value of $1,900,266.90. Following the sale, the insider now owns 343,509 shares in the company, valued at approximately $16,591,484.70. The disclosure for this sale can be found here. Insiders have sold a total of 86,849 shares of company stock worth $4,168,563 in the last 90 days.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Eaton Vance Corporation by 3,407.1% during the 1st quarter. BlackRock Inc. now owns 10,878,915 shares of the asset manager’s stock worth $489,118,000 after buying an additional 10,568,715 shares during the period. Vanguard Group Inc. lifted its holdings in Eaton Vance Corporation by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 10,523,293 shares of the asset manager’s stock worth $497,962,000 after buying an additional 124,336 shares during the period. Wells Fargo & Company MN lifted its holdings in Eaton Vance Corporation by 2.1% during the 2nd quarter. Wells Fargo & Company MN now owns 5,490,011 shares of the asset manager’s stock worth $259,787,000 after buying an additional 113,967 shares during the period. Bank of New York Mellon Corp lifted its holdings in Eaton Vance Corporation by 34.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,308,194 shares of the asset manager’s stock worth $156,544,000 after buying an additional 844,813 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Eaton Vance Corporation by 0.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,722,856 shares of the asset manager’s stock worth $81,525,000 after buying an additional 4,538 shares during the period. 68.91% of the stock is currently owned by hedge funds and other institutional investors.
About Eaton Vance Corporation
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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