Eaton Vance (NYSE:EV) Downgraded by ValuEngine

ValuEngine cut shares of Eaton Vance (NYSE:EV) from a hold rating to a sell rating in a research report released on Wednesday, October 17th.

Several other equities research analysts have also recently commented on EV. Citigroup cut their target price on Eaton Vance from $62.00 to $60.50 and set a buy rating on the stock in a research note on Thursday, August 30th. Zacks Investment Research upgraded Eaton Vance from a sell rating to a hold rating in a research note on Monday, July 2nd. Finally, Deutsche Bank cut their target price on Eaton Vance from $64.00 to $63.00 and set a buy rating on the stock in a research note on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Eaton Vance presently has a consensus rating of Hold and a consensus target price of $60.07.

Shares of EV traded down $0.74 on Wednesday, hitting $44.18. The company’s stock had a trading volume of 396,954 shares, compared to its average volume of 1,024,972. The company has a debt-to-equity ratio of 1.14, a quick ratio of 8.35 and a current ratio of 8.35. Eaton Vance has a fifty-two week low of $42.16 and a fifty-two week high of $60.95. The firm has a market capitalization of $5.30 billion, a PE ratio of 17.81, a P/E/G ratio of 0.66 and a beta of 1.65.

Eaton Vance (NYSE:EV) last released its earnings results on Wednesday, August 29th. The asset manager reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The firm had revenue of $430.60 million for the quarter, compared to analysts’ expectations of $430.11 million. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. Equities research analysts predict that Eaton Vance will post 3.2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, October 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.17%. This is a boost from Eaton Vance’s previous quarterly dividend of $0.31. Eaton Vance’s dividend payout ratio is currently 56.45%.

In related news, Director Leo I. Higdon, Jr. sold 5,943 shares of the stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $43.97, for a total value of $261,313.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas E. Faust, Jr. sold 33,407 shares of the stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $45.50, for a total value of $1,520,018.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 149,984 shares of company stock worth $6,618,100.

A number of institutional investors and hedge funds have recently bought and sold shares of EV. BlackRock Inc. grew its holdings in Eaton Vance by 0.7% in the 3rd quarter. BlackRock Inc. now owns 11,960,586 shares of the asset manager’s stock valued at $628,648,000 after buying an additional 80,753 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Eaton Vance by 3.9% in the 2nd quarter. Wells Fargo & Company MN now owns 5,254,672 shares of the asset manager’s stock valued at $274,240,000 after buying an additional 195,599 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Eaton Vance by 11.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,145,962 shares of the asset manager’s stock valued at $111,998,000 after buying an additional 224,463 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Eaton Vance by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,790,439 shares of the asset manager’s stock valued at $94,105,000 after buying an additional 12,246 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Eaton Vance by 0.7% in the 2nd quarter. Northern Trust Corp now owns 1,206,053 shares of the asset manager’s stock valued at $62,945,000 after buying an additional 8,815 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Eaton Vance Company Profile

Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Eaton Vance (NYSE:EV)

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