Brokerages Expect Envestnet Inc (ENV) to Post $0.45 Earnings Per Share

Equities analysts expect that Envestnet Inc (NYSE:ENV) will report $0.45 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have issued estimates for Envestnet’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.50. Envestnet posted earnings of $0.41 per share during the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The firm is expected to issue its next earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Envestnet will report full-year earnings of $2.13 per share for the current year, with EPS estimates ranging from $2.09 to $2.15. For the next year, analysts anticipate that the business will post earnings of $2.62 per share, with EPS estimates ranging from $2.52 to $2.68. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Envestnet.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.04). Envestnet had a negative net margin of 2.52% and a positive return on equity of 10.28%. The firm had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $201.37 million. During the same period last year, the firm posted $0.37 EPS. Envestnet’s revenue was up .9% on a year-over-year basis.

A number of research analysts have commented on the company. JPMorgan Chase & Co. cut Envestnet from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $71.00 to $73.00 in a research note on Thursday, May 9th. Buckingham Research cut Envestnet from a “buy” rating to a “neutral” rating and set a $73.00 price objective on the stock. in a research note on Thursday, May 9th. Royal Bank of Canada boosted their price objective on Envestnet to $71.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 9th. Zacks Investment Research upgraded Envestnet from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, SunTrust Banks assumed coverage on Envestnet in a research note on Thursday, April 18th. They set a “buy” rating and a $80.00 price objective on the stock. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $73.20.

In other Envestnet news, COO Joshua Mayer sold 1,162 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $61.15, for a total transaction of $71,056.30. Following the sale, the chief operating officer now owns 36,222 shares in the company, valued at $2,214,975.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stuart Depina sold 4,805 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $71.21, for a total value of $342,164.05. Following the sale, the insider now owns 44,512 shares in the company, valued at approximately $3,169,699.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,335 shares of company stock worth $4,559,261. Insiders own 4.97% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Envestnet by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,942,847 shares of the business services provider’s stock valued at $240,316,000 after buying an additional 112,801 shares in the last quarter. BlackRock Inc. raised its stake in Envestnet by 4.8% during the fourth quarter. BlackRock Inc. now owns 3,352,246 shares of the business services provider’s stock valued at $164,898,000 after buying an additional 152,126 shares in the last quarter. Wasatch Advisors Inc. raised its stake in Envestnet by 0.6% during the first quarter. Wasatch Advisors Inc. now owns 2,309,363 shares of the business services provider’s stock valued at $151,009,000 after buying an additional 13,688 shares in the last quarter. Champlain Investment Partners LLC raised its stake in Envestnet by 21.1% during the first quarter. Champlain Investment Partners LLC now owns 766,335 shares of the business services provider’s stock valued at $50,111,000 after buying an additional 133,585 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in Envestnet by 20.2% during the first quarter. Fiera Capital Corp now owns 766,325 shares of the business services provider’s stock valued at $50,110,000 after buying an additional 128,805 shares in the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

ENV stock traded up $1.66 during trading on Thursday, reaching $68.79. 12,456 shares of the stock traded hands, compared to its average volume of 283,938. Envestnet has a 52-week low of $46.57 and a 52-week high of $72.67. The company has a current ratio of 1.03, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.27 billion, a PE ratio of 54.92, a price-to-earnings-growth ratio of 2.86 and a beta of 1.90.

Envestnet Company Profile

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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