$227.38 Million in Sales Expected for Envestnet Inc (NYSE:ENV) This Quarter
Wall Street analysts predict that Envestnet Inc (NYSE:ENV) will report $227.38 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Envestnet’s earnings, with estimates ranging from $226.77 million to $228.50 million. Envestnet reported sales of $224.45 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.3%. The company is expected to issue its next earnings report on Wednesday, August 5th.
According to Zacks, analysts expect that Envestnet will report full-year sales of $951.22 million for the current year, with estimates ranging from $943.68 million to $960.07 million. For the next financial year, analysts expect that the firm will report sales of $1.04 billion, with estimates ranging from $1.02 billion to $1.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Envestnet.
Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The firm had revenue of $246.50 million for the quarter, compared to the consensus estimate of $242.32 million. Envestnet had a negative net margin of 0.66% and a positive return on equity of 8.94%. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share.
In related news, CEO William Crager sold 9,094 shares of Envestnet stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $55.67, for a total value of $506,262.98. Following the completion of the sale, the chief executive officer now directly owns 244,395 shares in the company, valued at approximately $13,605,469.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 18,486 shares of company stock valued at $1,113,996 over the last quarter. 2.44% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ENV. TRUE Private Wealth Advisors purchased a new stake in Envestnet in the fourth quarter valued at $27,000. Steward Partners Investment Advisory LLC grew its stake in shares of Envestnet by 61.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 501 shares of the business services provider’s stock valued at $34,000 after buying an additional 190 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Envestnet by 112.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 530 shares of the business services provider’s stock valued at $37,000 after buying an additional 280 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Envestnet in the first quarter valued at $33,000. Finally, Keebeck Wealth Management LLC acquired a new stake in shares of Envestnet in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 92.92% of the company’s stock.
NYSE ENV traded up $0.37 on Monday, reaching $69.51. 7,889 shares of the company’s stock traded hands, compared to its average volume of 330,022. Envestnet has a 12 month low of $45.53 and a 12 month high of $87.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a 50-day simple moving average of $58.62 and a 200 day simple moving average of $67.56. The stock has a market cap of $3.62 billion, a PE ratio of -632.45 and a beta of 1.74.
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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