Analysts Anticipate Envestnet, Inc (ENV) Will Announce Earnings of $0.34 Per Share
Analysts expect Envestnet, Inc (NYSE:ENV) to report earnings per share of $0.34 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Envestnet’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.32. Envestnet reported earnings of $0.28 per share in the same quarter last year, which would indicate a positive year over year growth rate of 21.4%. The business is expected to announce its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Envestnet will report full year earnings of $1.28 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.33. For the next financial year, analysts forecast that the firm will report earnings of $1.57 per share, with EPS estimates ranging from $1.46 to $1.64. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Envestnet.
Envestnet (NYSE:ENV) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $164.04 million. During the same quarter last year, the firm earned $0.21 EPS. The company’s revenue was up 18.0% on a year-over-year basis.
Several equities analysts recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $52.00 target price (up from $45.00) on shares of Envestnet in a research report on Thursday, August 10th. Zacks Investment Research lowered Envestnet from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. BidaskClub lowered Envestnet from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Raymond James Financial, Inc. upped their price target on Envestnet from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, DA Davidson started coverage on Envestnet in a research note on Thursday, July 6th. They set a “neutral” rating and a $42.00 price target for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $45.50.
In other news, insider Anil Arora sold 8,980 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $40.00, for a total value of $359,200.00. Following the completion of the sale, the insider now owns 68,609 shares in the company, valued at $2,744,360. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles Roame bought 1,473 shares of the stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $35.38 per share, with a total value of $52,114.74. Following the purchase, the director now owns 1,729 shares of the company’s stock, valued at approximately $61,172.02. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,949 shares of company stock valued at $146,288 and have sold 34,472 shares valued at $1,365,774. Corporate insiders own 5.58% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its stake in Envestnet by 559.6% in the second quarter. Janus Henderson Group PLC now owns 4,017,706 shares of the business services provider’s stock worth $159,101,000 after buying an additional 3,408,580 shares during the period. Royal Bank of Canada raised its stake in Envestnet by 7,211.3% in the second quarter. Royal Bank of Canada now owns 433,561 shares of the business services provider’s stock worth $17,169,000 after buying an additional 427,631 shares during the period. Van Berkom & Associates Inc. raised its stake in Envestnet by 24.9% in the first quarter. Van Berkom & Associates Inc. now owns 1,519,842 shares of the business services provider’s stock worth $49,091,000 after buying an additional 303,286 shares during the period. OppenheimerFunds Inc. bought a new stake in Envestnet during the first quarter worth about $9,435,000. Finally, TimesSquare Capital Management LLC raised its stake in Envestnet by 14.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,235,015 shares of the business services provider’s stock worth $72,191,000 after buying an additional 275,955 shares during the period. Institutional investors and hedge funds own 95.51% of the company’s stock.
Envestnet (NYSE:ENV) opened at 43.00 on Friday. Envestnet has a 52-week low of $30.80 and a 52-week high of $45.17. The company’s market cap is $1.89 billion. The firm’s 50-day moving average is $40.54 and its 200-day moving average is $37.19.
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Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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