Eaton Vance Corp (EV) Given Consensus Recommendation of “Hold” by Brokerages

Eaton Vance Corp (NYSE:EV) has been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $58.75.

EV has been the topic of several research analyst reports. Deutsche Bank cut their price objective on Eaton Vance from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, September 27th. Zacks Investment Research cut Eaton Vance from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. ValuEngine cut Eaton Vance from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Finally, Citigroup cut their price objective on Eaton Vance from $62.00 to $60.50 and set a “buy” rating on the stock in a research report on Thursday, August 30th.

In other Eaton Vance news, Director Brian D. Langstraat sold 13,000 shares of the business’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $47.50, for a total value of $617,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas E. Faust, Jr. sold 33,407 shares of the business’s 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 three months, insiders sold 149,984 shares of company stock worth $6,618,100.

Institutional investors and hedge funds have recently modified their holdings of the business. Zebra Capital Management LLC raised its stake in shares of Eaton Vance by 107.1% in the second quarter. Zebra Capital Management LLC now owns 19,920 shares of the asset manager’s stock valued at $1,040,000 after buying an additional 10,303 shares during the period. Korea Investment CORP bought a new stake in shares of Eaton Vance in the second quarter valued at $193,000. Schwab Charles Investment Management Inc. raised its stake in shares of Eaton Vance by 5.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 910,937 shares of the asset manager’s stock valued at $47,542,000 after purchasing an additional 43,271 shares during the period. Laurion Capital Management LP bought a new stake in shares of Eaton Vance during the 2nd quarter valued at $236,000. Finally, Natixis bought a new stake in shares of Eaton Vance during the 2nd quarter valued at $300,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Shares of NYSE:EV traded up $0.35 during mid-day trading on Thursday, hitting $45.21. 80,744 shares of the company traded hands, compared to its average volume of 1,036,801. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 0.66 and a beta of 1.65. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.14. Eaton Vance has a 12-month low of $42.16 and a 12-month high of $60.95.

Eaton Vance (NYSE:EV) last posted its quarterly earnings data on Wednesday, August 29th. The asset manager reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The business had revenue of $430.60 million for the quarter, compared to analysts’ expectations of $430.11 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that Eaton Vance will post 3.2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $1.40 annualized dividend and a yield of 3.10%. This is a boost from Eaton Vance’s previous quarterly dividend of $0.31. Eaton Vance’s payout ratio is currently 56.45%.

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.

Further Reading: Understanding each part of a balance sheet

Analyst Recommendations for Eaton Vance (NYSE:EV)

Receive News & Ratings for Eaton Vance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Vance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply