Jefferies Group Weighs in on Eaton Vance Corp’s Q2 2018 Earnings (EV)
Eaton Vance Corp (NYSE:EV) – Analysts at Jefferies Group increased their Q2 2018 earnings per share estimates for Eaton Vance in a research report issued to clients and investors on Wednesday. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings per share of $0.85 for the quarter, up from their previous estimate of $0.69. Jefferies Group currently has a “Hold” rating and a $46.00 price objective on the stock. Jefferies Group also issued estimates for Eaton Vance’s Q3 2018 earnings at $0.90 EPS, FY2018 earnings at $3.38 EPS and FY2019 earnings at $3.86 EPS.
Eaton Vance (NYSE:EV) last announced its quarterly earnings results on Tuesday, November 21st. The asset manager reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. The company had revenue of $405.70 million during the quarter, compared to the consensus estimate of $407.75 million. During the same period in the previous year, the firm posted $0.57 EPS. The business’s quarterly revenue was up 17.0% compared to the same quarter last year.
A number of other brokerages have also weighed in on EV. Bank of America lifted their price target on shares of Eaton Vance from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. ValuEngine raised shares of Eaton Vance from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Zacks Investment Research raised shares of Eaton Vance from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Deutsche Bank initiated coverage on shares of Eaton Vance in a research note on Tuesday, October 17th. They issued a “buy” rating and a $57.00 price target on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $53.00 price target on shares of Eaton Vance in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.06.
Shares of Eaton Vance (NYSE:EV) traded up $0.46 on Friday, reaching $60.45. 563,279 shares of the company’s stock were exchanged, compared to its average volume of 563,595. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.44 and a current ratio of 5.44. Eaton Vance has a 1 year low of $41.40 and a 1 year high of $60.85. The company has a market capitalization of $7,083.49, a price-to-earnings ratio of 24.98, a P/E/G ratio of 0.90 and a beta of 1.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, January 30th. Eaton Vance’s dividend payout ratio is presently 51.24%.
In other news, insider Payson F. Swaffield sold 71,739 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $51.81, for a total value of $3,716,797.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dorothy E. Puhy sold 5,953 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $51.08, for a total transaction of $304,079.24. The disclosure for this sale can be found here. In the last three months, insiders sold 174,146 shares of company stock worth $8,952,337.
A number of institutional investors and hedge funds have recently modified their holdings of EV. Janus Henderson Group PLC increased its holdings in Eaton Vance by 13,411.4% during the second quarter. Janus Henderson Group PLC now owns 1,557,593 shares of the asset manager’s stock worth $73,705,000 after buying an additional 1,546,065 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Eaton Vance by 33.7% during the third quarter. Bank of New York Mellon Corp now owns 4,421,942 shares of the asset manager’s stock worth $218,311,000 after buying an additional 1,113,748 shares during the last quarter. Junto Capital Management LP acquired a new position in Eaton Vance during the second quarter worth $33,813,000. Balyasny Asset Management LLC increased its holdings in Eaton Vance by 579.4% during the second quarter. Balyasny Asset Management LLC now owns 239,882 shares of the asset manager’s stock worth $11,351,000 after buying an additional 204,575 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its holdings in Eaton Vance by 46.7% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 509,947 shares of the asset manager’s stock worth $25,176,000 after buying an additional 162,436 shares during the last quarter. Institutional investors and hedge funds own 68.73% of the company’s stock.
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Eaton Vance Company Profile
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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