Eaton Vance (EV) to Issue Quarterly Dividend of $0.31 on May 15th

Eaton Vance (NYSE:EV) declared a quarterly dividend on Wednesday, April 11th, RTT News reports. Shareholders of record on Monday, April 30th will be paid a dividend of 0.31 per share by the asset manager on Tuesday, May 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, April 27th.

Eaton Vance has raised its dividend by an average of 8.1% annually over the last three years and has increased its dividend every year for the last 37 years. Eaton Vance has a payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eaton Vance to earn $3.82 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 32.5%.

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Shares of EV opened at $54.98 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 9.40 and a current ratio of 9.40. The firm has a market capitalization of $6,600.29, a P/E ratio of 20.21, a PEG ratio of 0.64 and a beta of 1.69. Eaton Vance has a twelve month low of $42.65 and a twelve month high of $60.95.

Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, February 27th. The asset manager reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. The business had revenue of $421.40 million for the quarter, compared to analyst estimates of $420.62 million. Eaton Vance had a return on equity of 34.09% and a net margin of 18.77%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. equities research analysts expect that Eaton Vance will post 3.33 EPS for the current year.

Several research analysts recently weighed in on the company. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, January 23rd. ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. JPMorgan Chase set a $58.00 target price on Eaton Vance and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Deutsche Bank increased their target price on Eaton Vance from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, April 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $59.00 target price on shares of Eaton Vance in a research report on Wednesday, April 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $56.31.

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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.

Dividend History for Eaton Vance (NYSE:EV)

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