Zacks: Analysts Anticipate Eaton Vance Corp (NYSE:EV) Will Post Earnings of $0.87 Per Share

Wall Street analysts expect Eaton Vance Corp (NYSE:EV) to post earnings of $0.87 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Eaton Vance’s earnings. The highest EPS estimate is $0.90 and the lowest is $0.85. Eaton Vance posted earnings per share of $0.82 during the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The business is expected to issue its next quarterly earnings results on Wednesday, September 4th.

On average, analysts expect that Eaton Vance will report full-year earnings of $3.36 per share for the current financial year, with EPS estimates ranging from $3.24 to $3.41. For the next fiscal year, analysts expect that the business will post earnings of $3.54 per share, with EPS estimates ranging from $3.43 to $3.63. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Eaton Vance.

Eaton Vance (NYSE:EV) last issued its quarterly earnings results on Tuesday, May 21st. The asset manager reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.13. Eaton Vance had a net margin of 23.50% and a return on equity of 35.53%. The company had revenue of $411.86 million for the quarter, compared to analyst estimates of $411.42 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year.

A number of equities analysts recently issued reports on the company. ValuEngine downgraded Eaton Vance from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Bank of America downgraded Eaton Vance from a “buy” rating to an “underperform” rating in a report on Monday, May 20th. Credit Suisse Group assumed coverage on Eaton Vance in a report on Wednesday, June 12th. They issued a “neutral” rating and a $44.00 price target for the company. Finally, Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Friday, May 24th. Three equities research 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’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.00.

EV traded up $0.71 on Thursday, reaching $41.07. The company’s stock had a trading volume of 32,540 shares, compared to its average volume of 724,031. The business has a 50 day simple moving average of $43.52. The company has a quick ratio of 11.82, a current ratio of 11.82 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $4.60 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 2.37 and a beta of 1.58. Eaton Vance has a fifty-two week low of $32.28 and a fifty-two week high of $54.44.

Eaton Vance announced that its board has approved a share repurchase plan on Wednesday, July 10th that authorizes the company to buyback 8,000,000 outstanding shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Tuesday, July 30th. Eaton Vance’s dividend payout ratio is currently 43.61%.

In related news, Director Brian D. Langstraat sold 3,772 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $43.89, for a total transaction of $165,553.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Leo I. Higdon, Jr. sold 4,883 shares of Eaton Vance stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $44.32, for a total value of $216,414.56. The disclosure for this sale can be found here.

A number of hedge funds have recently made changes to their positions in EV. Nomura Asset Management Co. Ltd. raised its position in shares of Eaton Vance by 4.8% during the first quarter. Nomura Asset Management Co. Ltd. now owns 21,216 shares of the asset manager’s stock worth $855,000 after purchasing an additional 964 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Eaton Vance by 7.4% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 408,893 shares of the asset manager’s stock worth $16,482,000 after purchasing an additional 28,338 shares during the last quarter. Arcus Capital Partners LLC acquired a new position in Eaton Vance in the 2nd quarter valued at approximately $91,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Eaton Vance in the 1st quarter worth approximately $640,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Eaton Vance by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,140,735 shares of the asset manager’s stock worth $40,130,000 after buying an additional 100,760 shares in the last quarter. Institutional investors own 71.75% 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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Earnings History and Estimates for Eaton Vance (NYSE:EV)

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