Envestnet (NYSE:ENV) Issues Q3 2019 Earnings Guidance

Envestnet (NYSE:ENV) updated its third quarter 2019 earnings guidance on Wednesday. The company provided EPS guidance of $0.58-0.58 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.61. The company issued revenue guidance of $232.5-235.5 million, compared to the consensus revenue estimate of $238.74 million.Envestnet also updated its FY 2019 guidance to $2.10-2.12 EPS.

Several brokerages have recently weighed in on ENV. SunTrust Banks began coverage on shares of Envestnet in a report on Thursday, April 18th. They issued a buy rating and a $80.00 target price on the stock. ValuEngine downgraded shares of Envestnet from a buy rating to a hold rating in a report on Thursday. Royal Bank of Canada lifted their target price on shares of Envestnet to $71.00 and gave the company a sector perform rating in a report on Thursday, May 9th. Zacks Investment Research raised shares of Envestnet from a sell rating to a hold rating in a report on Wednesday, April 24th. Finally, Raymond James lifted their target price on shares of Envestnet from $82.00 to $83.00 and gave the company a strong-buy rating in a report on Thursday, July 11th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Envestnet currently has a consensus rating of Buy and a consensus price target of $73.30.

Shares of NYSE:ENV traded down $2.76 during midday trading on Friday, hitting $58.42. The stock had a trading volume of 682,728 shares, compared to its average volume of 303,406. The stock has a market cap of $3.16 billion, a P/E ratio of 46.74, a PEG ratio of 2.86 and a beta of 1.67. The company’s 50 day moving average price is $69.77. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.60. Envestnet has a 1 year low of $46.57 and a 1 year high of $73.94.

Envestnet (NYSE:ENV) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.02). Envestnet had a negative net margin of 1.72% and a positive return on equity of 10.18%. The company had revenue of $227.90 million during the quarter, compared to analyst estimates of $225.34 million. During the same quarter last year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities analysts forecast that Envestnet will post 1.4 earnings per share for the current fiscal year.

In related news, COO Joshua Mayer sold 500 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $69.86, for a total value of $34,930.00. Following the completion of the sale, the chief operating officer now owns 28,602 shares in the company, valued at $1,998,135.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anil Arora sold 2,261 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $66.79, for a total transaction of $151,012.19. Following the completion of the sale, the director now owns 40,706 shares of the company’s stock, valued at approximately $2,718,753.74. The disclosure for this sale can be found here. Insiders sold 116,064 shares of company stock valued at $8,123,684 in the last quarter. Company insiders own 4.97% of the company’s stock.

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 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.

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