Eaton Vance (NYSE:EV) posted its quarterly earnings data on Tuesday. The asset manager reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.13, Briefing.com reports. Eaton Vance had a net margin of 23.16% and a return on equity of 35.03%. The company had revenue of $411.86 million during the quarter, compared to the consensus estimate of $411.42 million. During the same quarter in the prior year, the company posted $0.77 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year.
EV traded up $2.03 on Tuesday, reaching $39.31. 15,972 shares of the company’s stock were exchanged, compared to its average volume of 960,093. The company has a market cap of $4.40 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.60. Eaton Vance has a twelve month low of $32.28 and a twelve month high of $58.54. The company has a debt-to-equity ratio of 1.43, a quick ratio of 13.48 and a current ratio of 13.48.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Monday, April 29th. Eaton Vance’s dividend payout ratio (DPR) is presently 43.61%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its position in Eaton Vance by 3,313.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,189,498 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 2,125,364 shares in the last quarter. Norges Bank acquired a new stake in Eaton Vance in the fourth quarter valued at approximately $33,744,000. Two Sigma Investments LP acquired a new stake in Eaton Vance in the fourth quarter valued at approximately $25,731,000. Deutsche Bank AG grew its position in Eaton Vance by 349.5% in the fourth quarter. Deutsche Bank AG now owns 663,858 shares of the asset manager’s stock valued at $23,351,000 after acquiring an additional 516,159 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Eaton Vance in the first quarter valued at approximately $14,750,000. 70.37% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on EV shares. ValuEngine downgraded shares of Eaton Vance from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Zacks Investment Research downgraded shares of Eaton Vance from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, Bank of America downgraded shares of Eaton Vance from a “buy” rating to an “underperform” rating in a research note on Monday. Three 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. Eaton Vance has a consensus rating of “Hold” and a consensus price target of $42.00.
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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