$0.89 EPS Expected for Eaton Vance Corp (NYSE:EV) This Quarter

Brokerages expect Eaton Vance Corp (NYSE:EV) to announce earnings of $0.89 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Eaton Vance’s earnings, with the lowest EPS estimate coming in at $0.88 and the highest estimate coming in at $0.90. Eaton Vance reported earnings of $0.85 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 4.7%. The business is expected to report its next quarterly earnings results on Tuesday, November 26th.

According to Zacks, analysts expect that Eaton Vance will report full year earnings of $3.40 per share for the current year, with EPS estimates ranging from $3.37 to $3.42. For the next fiscal year, analysts expect that the business will post earnings of $3.54 per share, with EPS estimates ranging from $3.46 to $3.60. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Eaton Vance.

Eaton Vance (NYSE:EV) last released its quarterly earnings data on Tuesday, August 27th. The asset manager reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $431.24 million for the quarter, compared to analysts’ expectations of $433.98 million. Eaton Vance had a net margin of 23.51% and a return on equity of 35.45%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share.

EV has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Friday, August 30th. Credit Suisse Group lifted their price objective on shares of Eaton Vance from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. reduced their price objective on shares of Eaton Vance from $44.00 to $42.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 28th. Finally, ValuEngine cut shares of Eaton Vance from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $43.57.

Shares of Eaton Vance stock traded down $0.82 on Monday, hitting $45.00. 1,212,584 shares of the company traded hands, compared to its average volume of 665,430. The stock has a market capitalization of $5.16 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 2.45 and a beta of 1.55. The company has a debt-to-equity ratio of 1.98, a quick ratio of 11.85 and a current ratio of 11.85. Eaton Vance has a 52 week low of $32.28 and a 52 week high of $54.14. The business has a 50-day simple moving average of $42.34 and a 200 day simple moving average of $41.72.

Eaton Vance announced that its Board of Directors has authorized a stock repurchase program on Wednesday, July 10th that allows the company to repurchase 8,000,000 outstanding shares. This repurchase authorization allows the asset manager to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its stake in shares of Eaton Vance by 1.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 20,194 shares of the asset manager’s stock valued at $870,000 after purchasing an additional 244 shares during the period. Cordatus Wealth Management LLC boosted its stake in shares of Eaton Vance by 3.7% during the second quarter. Cordatus Wealth Management LLC now owns 7,695 shares of the asset manager’s stock valued at $332,000 after purchasing an additional 274 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Eaton Vance by 1.0% during the second quarter. State of Alaska Department of Revenue now owns 28,982 shares of the asset manager’s stock valued at $1,249,000 after purchasing an additional 290 shares during the period. Somerset Trust Co boosted its stake in shares of Eaton Vance by 1.9% during the second quarter. Somerset Trust Co now owns 18,708 shares of the asset manager’s stock valued at $807,000 after purchasing an additional 346 shares during the period. Finally, Wade G W & Inc. boosted its stake in shares of Eaton Vance by 0.4% during the second quarter. Wade G W & Inc. now owns 100,427 shares of the asset manager’s stock valued at $4,331,000 after purchasing an additional 371 shares during the period. Institutional investors own 70.78% 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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