Envestnet Inc (ENV) Expected to Announce Earnings of $0.59 Per Share

Brokerages predict that Envestnet Inc (NYSE:ENV) will announce earnings of $0.59 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Envestnet’s earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.60. Envestnet posted earnings per share of $0.40 in the same quarter last year, which would indicate a positive year-over-year growth rate of 47.5%. The company is expected to issue its next earnings results after the market closes on Thursday, February 21st.

According to Zacks, analysts expect that Envestnet will report full year earnings of $1.91 per share for the current financial year, with EPS estimates ranging from $1.90 to $1.92. For the next financial year, analysts anticipate that the company will report earnings of $2.01 per share, with EPS estimates ranging from $1.91 to $2.24. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Envestnet.

Several equities analysts recently commented on ENV shares. Raymond James dropped their price objective on Envestnet from $71.00 to $60.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 3rd. Zacks Investment Research downgraded Envestnet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 29th. DA Davidson dropped their price objective on Envestnet to $58.00 and set a “buy” rating on the stock in a research note on Friday, January 4th. JMP Securities dropped their price objective on Envestnet from $76.00 to $67.00 and set a “market outperform” rating on the stock in a research note on Tuesday, November 13th. Finally, UBS Group dropped their price objective on Envestnet from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, January 8th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Envestnet presently has a consensus rating of “Buy” and an average target price of $63.56.

Envestnet stock traded down $0.89 during trading on Thursday, hitting $55.56. The stock had a trading volume of 311,908 shares, compared to its average volume of 209,698. Envestnet has a 1 year low of $46.57 and a 1 year high of $64.80. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 63.14, a PEG ratio of 2.27 and a beta of 1.81.

In other Envestnet news, COO Joshua Mayer sold 2,616 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $55.00, for a total transaction of $143,880.00. Following the sale, the chief operating officer now owns 32,616 shares of the company’s stock, valued at approximately $1,793,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anil Arora sold 5,117 shares of the business’s stock in a transaction on Friday, January 25th. The shares were sold at an average price of $53.92, for a total transaction of $275,908.64. Following the sale, the insider now directly owns 65,312 shares in the company, valued at approximately $3,521,623.04. The disclosure for this sale can be found here. Insiders have sold a total of 8,486 shares of company stock worth $461,056 in the last three months. Insiders own 5.49% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Envestnet by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,942,847 shares of the business services provider’s stock worth $240,316,000 after purchasing an additional 112,801 shares during the period. Vanguard Group Inc increased its holdings in shares of Envestnet by 2.9% in the third quarter. Vanguard Group Inc now owns 3,942,847 shares of the business services provider’s stock worth $240,316,000 after purchasing an additional 112,801 shares during the period. BlackRock Inc. increased its holdings in shares of Envestnet by 4.8% in the fourth quarter. BlackRock Inc. now owns 3,352,246 shares of the business services provider’s stock worth $164,898,000 after purchasing an additional 152,126 shares during the period. Wasatch Advisors Inc. increased its holdings in shares of Envestnet by 0.6% in the third quarter. Wasatch Advisors Inc. now owns 2,503,335 shares of the business services provider’s stock worth $152,578,000 after purchasing an additional 13,957 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of Envestnet by 1.4% in the third quarter. Clearbridge Investments LLC now owns 888,199 shares of the business services provider’s stock worth $54,136,000 after purchasing an additional 11,953 shares during the period. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

About Envestnet

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 business 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.

Featured Story: The Structure of a Futures Contract

Get a free copy of the Zacks research report on Envestnet (ENV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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