Eaton Vance Corp (NYSE:EV) – Research analysts at William Blair raised their FY2020 EPS estimates for Eaton Vance in a research note issued on Wednesday, May 22nd. William Blair analyst C. Shutler now anticipates that the asset manager will post earnings per share of $3.51 for the year, up from their previous estimate of $3.36.
A number of other research analysts have also weighed in on the company. Bank of America lowered Eaton Vance from a “buy” rating to an “underperform” rating in a research note on Monday. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, April 30th. Finally, ValuEngine lowered Eaton Vance from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $42.00.
Eaton Vance (NYSE:EV) last posted its earnings results on Tuesday, May 21st. The asset manager reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.13. Eaton Vance had a return on equity of 35.53% and a net margin of 23.50%. The firm had revenue of $411.86 million for the quarter, compared to analyst estimates of $411.42 million. During the same quarter in the prior year, the company earned $0.77 EPS. Eaton Vance’s revenue was down .2% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, April 29th. Eaton Vance’s dividend payout ratio is presently 43.61%.
In other Eaton Vance news, Director Brian D. Langstraat sold 7,740 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $41.76, for a total transaction of $323,222.40. The sale was disclosed in a document filed with the SEC, which is available at this link.
Several hedge funds have recently added to or reduced their stakes in EV. Oregon Public Employees Retirement Fund increased its holdings in shares of Eaton Vance by 3,313.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,189,498 shares of the asset manager’s stock worth $62,000 after buying an additional 2,125,364 shares during the last quarter. Norges Bank acquired a new stake in shares of Eaton Vance during the 4th quarter worth $33,744,000. Two Sigma Investments LP acquired a new stake in shares of Eaton Vance during the 4th quarter worth $25,731,000. Deutsche Bank AG increased its holdings in shares of Eaton Vance by 349.5% during the 4th quarter. Deutsche Bank AG now owns 663,858 shares of the asset manager’s stock worth $23,351,000 after buying an additional 516,159 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Eaton Vance during the 1st quarter worth $14,750,000. Institutional investors and hedge funds own 69.56% of the company’s stock.
About Eaton Vance
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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