Analysts Expect Eaton Vance Corp (EV) Will Post Quarterly Sales of $414.91 Million

Wall Street brokerages expect Eaton Vance Corp (NYSE:EV) to post $414.91 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Eaton Vance’s earnings. The highest sales estimate is $415.57 million and the lowest is $414.25 million. Eaton Vance reported sales of $354.96 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.9%. The firm is scheduled to announce its next earnings report before the market opens on Tuesday, February 27th.

According to Zacks, analysts expect that Eaton Vance will report full-year sales of $414.91 million for the current year, with estimates ranging from $1.69 billion to $1.70 billion. For the next financial year, analysts forecast that the company will report sales of $1.80 billion per share, with estimates ranging from $1.79 billion to $1.82 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Eaton Vance.

Eaton Vance (NYSE:EV) last released 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 firm had revenue of $405.70 million for the quarter, compared to analyst estimates of $407.75 million. Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. Eaton Vance’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS.

EV has been the subject of a number of research reports. Deutsche Bank initiated coverage on Eaton Vance in a research report on Tuesday, October 17th. They set a “buy” rating and a $57.00 price objective for the company. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, November 2nd. ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $53.00 price objective on shares of Eaton Vance in a research report on Friday, November 10th. Finally, Jefferies Group reissued a “hold” rating and set a $46.00 price objective on shares of Eaton Vance in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Eaton Vance currently has an average rating of “Hold” and an average target price of $53.44.

Shares of Eaton Vance (NYSE EV) opened at $53.19 on Friday. The stock has a market capitalization of $6,202.63, a price-to-earnings ratio of 21.98, a P/E/G ratio of 0.79 and a beta of 1.79. Eaton Vance has a 12-month low of $42.20 and a 12-month high of $60.95. The company has a current ratio of 5.44, a quick ratio of 5.44 and a debt-to-equity ratio of 0.62.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a $0.31 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.33%. Eaton Vance’s dividend payout ratio is currently 51.24%.

In other Eaton Vance news, Director Dorothy E. Puhy sold 9,490 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $60.49, for a total value of $574,050.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew J. Witkos sold 25,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $60.35, for a total value of $1,508,750.00. The disclosure for this sale can be found here.

Large investors have recently made changes to their positions in the business. American International Group Inc. increased its stake in shares of Eaton Vance by 3.8% in the fourth quarter. American International Group Inc. now owns 251,836 shares of the asset manager’s stock worth $14,201,000 after purchasing an additional 9,234 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Eaton Vance by 94.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 264,206 shares of the asset manager’s stock worth $14,899,000 after purchasing an additional 128,541 shares during the period. Homrich & Berg bought a new position in shares of Eaton Vance in the fourth quarter worth about $339,000. UBS Asset Management Americas Inc. increased its stake in shares of Eaton Vance by 2.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 335,902 shares of the asset manager’s stock worth $18,942,000 after purchasing an additional 7,122 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Eaton Vance by 5.0% in the fourth quarter. BlackRock Inc. now owns 11,297,677 shares of the asset manager’s stock worth $637,078,000 after purchasing an additional 533,248 shares during the period. 69.57% of the stock is owned by institutional investors.

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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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