Shares of Eaton Vance Corp (NYSE:EV) have earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $42.00.
EV has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Eaton Vance from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Friday, May 24th. Bank of America downgraded shares of Eaton Vance from a “buy” rating to an “underperform” rating in a research report on Monday, May 20th. Credit Suisse Group initiated coverage on shares of Eaton Vance in a research report on Wednesday, June 12th. They issued a “neutral” rating and a $44.00 target price for the company. Finally, ValuEngine downgraded shares of Eaton Vance from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
In other news, Director Leo I. Higdon, Jr. sold 4,883 shares of Eaton Vance stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $44.32, for a total transaction of $216,414.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian D. Langstraat sold 3,772 shares of Eaton Vance stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $43.89, for a total transaction of $165,553.08. The disclosure for this sale can be found here.
Shares of EV traded down $0.76 on Friday, hitting $41.30. 387,459 shares of the stock traded hands, compared to its average volume of 721,384. The stock has a market cap of $4.68 billion, a P/E ratio of 12.87, a PEG ratio of 2.30 and a beta of 1.58. The company has a debt-to-equity ratio of 1.49, a current ratio of 11.82 and a quick ratio of 11.82. The firm has a 50 day simple moving average of $43.47. Eaton Vance has a one year low of $32.28 and a one year high of $54.44.
Eaton Vance (NYSE:EV) last posted its earnings results on Tuesday, May 21st. The asset manager reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.13. Eaton Vance had a net margin of 23.50% and a return on equity of 35.53%. The business had revenue of $411.86 million during the quarter, compared to the consensus estimate of $411.42 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that Eaton Vance will post 3.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, July 30th. Eaton Vance’s dividend payout ratio is presently 43.61%.
Eaton Vance declared that its Board of Directors has authorized a stock buyback program on Wednesday, July 10th that allows the company to buyback 8,000,000 outstanding shares. This buyback authorization allows the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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