Brokerages Expect Envestnet Inc (ENV) Will Announce Earnings of $0.59 Per Share

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Analysts predict that Envestnet Inc (NYSE:ENV) will report earnings of $0.59 per share for the current quarter, Zacks reports. Five analysts have provided estimates for Envestnet’s earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.60. Envestnet reported earnings of $0.40 per share during the same quarter last year, which suggests a positive year over year growth rate of 47.5%. The firm is scheduled to report its next earnings report after the market closes on Thursday, February 21st.

On average, analysts expect that Envestnet will report full year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $1.92. For the next financial year, analysts forecast that the business will post earnings of $2.01 per share, with EPS estimates ranging from $1.91 to $2.24. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Envestnet.

Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Envestnet from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. UBS Group decreased their price target on shares of Envestnet from $67.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, January 8th. ValuEngine lowered shares of Envestnet from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Rosenblatt Securities assumed coverage on shares of Envestnet in a report on Wednesday, December 5th. They issued a “buy” rating and a $65.00 price target for the company. Finally, JMP Securities decreased their price target on shares of Envestnet from $76.00 to $67.00 and set a “market outperform” rating for the company in a report on Tuesday, November 13th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Envestnet currently has a consensus rating of “Buy” and a consensus price target of $63.56.

In related news, COO Joshua Mayer sold 2,616 shares of Envestnet stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $55.00, for a total value of $143,880.00. Following the sale, the chief operating officer now directly owns 32,616 shares in the company, valued at approximately $1,793,880. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anil Arora sold 567 shares of Envestnet stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $54.74, for a total transaction of $31,037.58. Following the completion of the sale, the insider now owns 64,745 shares in the company, valued at $3,544,141.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,486 shares of company stock worth $461,056. 5.49% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. US Bancorp DE lifted its position in Envestnet by 14.7% in the 3rd quarter. US Bancorp DE now owns 10,999 shares of the business services provider’s stock valued at $670,000 after purchasing an additional 1,406 shares during the last quarter. Westwood Management Corp IL bought a new stake in shares of Envestnet during the 3rd quarter worth about $628,000. Hodges Capital Management Inc. bought a new stake in shares of Envestnet during the 3rd quarter worth about $6,545,000. Engineers Gate Manager LP bought a new stake in shares of Envestnet during the 3rd quarter worth about $207,000. Finally, Tygh Capital Management Inc. raised its position in shares of Envestnet by 32.4% during the 3rd quarter. Tygh Capital Management Inc. now owns 104,104 shares of the business services provider’s stock worth $6,345,000 after buying an additional 25,453 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

NYSE ENV opened at $56.27 on Thursday. Envestnet has a one year low of $46.57 and a one year high of $64.80. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.46 billion, a PE ratio of 63.94, a price-to-earnings-growth ratio of 2.15 and a beta of 1.81.

Envestnet Company Profile

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 business 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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