Equities analysts forecast that Eaton Vance Corporation (NYSE:EV) will announce sales of $409.74 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Eaton Vance Corporation’s earnings. The lowest sales estimate is $406.24 million and the highest is $412.59 million. Eaton Vance Corporation posted sales of $346.85 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.1%. The business is expected to announce its next earnings report on Tuesday, November 28th.
According to Zacks, analysts expect that Eaton Vance Corporation will report full year sales of $409.74 million for the current fiscal year, with estimates ranging from $1.53 billion to $1.55 billion. For the next year, analysts forecast that the business will post sales of $1.70 billion per share, with estimates ranging from $1.67 billion to $1.72 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Eaton Vance Corporation.
Eaton Vance Corporation (NYSE:EV) last posted its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.05). Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. The business had revenue of $393.70 million during the quarter, compared to the consensus estimate of $398.74 million. During the same quarter in the previous year, the business posted $0.56 earnings per share. The company’s quarterly revenue was up 15.4% compared to the same quarter last year.
A number of equities research analysts have weighed in on EV shares. BidaskClub downgraded shares of Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. J P Morgan Chase & Co upgraded shares of Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 price target on the stock in a research note on Thursday, August 24th. Credit Suisse Group lifted their price target on shares of Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 11th. Jefferies Group LLC reiterated a “hold” rating and set a $45.00 price target on shares of Eaton Vance Corporation in a research note on Wednesday, June 28th. Finally, Zacks Investment Research downgraded shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $49.58.
In other Eaton Vance Corporation news, CEO Thomas E. Faust, Jr. sold 57,832 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $49.67, for a total transaction of $2,872,515.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas E. Faust, Jr. sold 73,982 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $48.20, for a total value of $3,565,932.40. Following the sale, the chief executive officer now directly owns 2,697,576 shares of the company’s stock, valued at $130,023,163.20. The disclosure for this sale can be found here. Insiders sold 317,903 shares of company stock valued at $15,539,158 over the last ninety days.
A number of large investors have recently made changes to their positions in the business. WFG Advisors LP increased its stake in shares of Eaton Vance Corporation by 0.6% in the 2nd quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 14 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Eaton Vance Corporation by 131.9% in the 1st quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock valued at $150,000 after acquiring an additional 1,900 shares during the last quarter. Pacad Investment Ltd. bought a new stake in shares of Eaton Vance Corporation in the 2nd quarter valued at about $166,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Eaton Vance Corporation by 53.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,000 shares of the asset manager’s stock valued at $180,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Eaton Vance Corporation by 44.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock valued at $199,000 after acquiring an additional 1,296 shares during the last quarter. 68.91% of the stock is owned by hedge funds and other institutional investors.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.45%. This is a boost from Eaton Vance Corporation’s previous quarterly dividend of $0.28. Eaton Vance Corporation’s payout ratio is currently 48.70%.
Eaton Vance Corporation Company Profile
Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.
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