Wall Street analysts predict that Eaton Vance Corp (NYSE:EV) will post $442.36 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Eaton Vance’s earnings. The lowest sales estimate is $441.41 million and the highest is $443.40 million. Eaton Vance posted sales of $405.67 million during the same quarter last year, which suggests a positive year over year growth rate of 9%. The company is scheduled to report its next quarterly earnings report on Tuesday, November 20th.
According to Zacks, analysts expect that Eaton Vance will report full-year sales of $1.71 billion for the current financial year. For the next financial year, analysts forecast that the business will report sales of $1.83 billion, with estimates ranging from $1.82 billion to $1.83 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Eaton Vance.
Eaton Vance (NYSE:EV) last announced its quarterly earnings data on Wednesday, August 29th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.01. Eaton Vance had a net margin of 21.44% and a return on equity of 34.91%. The company had revenue of $430.60 million during the quarter, compared to analysts’ expectations of $430.11 million. During the same quarter in the prior year, the company earned $0.62 EPS. The firm’s revenue was up 9.4% on a year-over-year basis.
In related news, Director Brian D. Langstraat sold 13,000 shares of the company’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $47.50, for a total transaction of $617,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Eaton Vance by 2.3% in the 2nd quarter. BlackRock Inc. now owns 11,879,833 shares of the asset manager’s stock worth $620,009,000 after purchasing an additional 270,518 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Eaton Vance by 3.9% in the 2nd quarter. Wells Fargo & Company MN now owns 5,254,672 shares of the asset manager’s stock worth $274,240,000 after purchasing an additional 195,599 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Eaton Vance by 11.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,145,962 shares of the asset manager’s stock worth $111,998,000 after purchasing an additional 224,463 shares in the last quarter. Earnest Partners LLC raised its holdings in Eaton Vance by 0.7% in the 1st quarter. Earnest Partners LLC now owns 1,787,288 shares of the asset manager’s stock worth $99,498,000 after purchasing an additional 12,667 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Eaton Vance by 0.7% in the 2nd quarter. Northern Trust Corp now owns 1,206,053 shares of the asset manager’s stock worth $62,945,000 after purchasing an additional 8,815 shares in the last quarter. Institutional investors and hedge funds own 68.40% of the company’s stock.
NYSE:EV traded down $0.42 during midday trading on Monday, reaching $46.24. 726,366 shares of the stock traded hands, compared to its average volume of 606,074. Eaton Vance has a 12 month low of $45.72 and a 12 month high of $60.95. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $6.20 billion, a P/E ratio of 18.65, a P/E/G ratio of 0.88 and a beta of 1.63.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued a dividend of $0.35 per share. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Tuesday, October 30th. Eaton Vance’s dividend payout ratio is currently 50.00%.
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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