Eaton Vance Corp (EV) Expected to Post Earnings of $0.86 Per Share

Wall Street brokerages expect that Eaton Vance Corp (NYSE:EV) will announce $0.86 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Eaton Vance’s earnings. The lowest EPS estimate is $0.83 and the highest is $0.89. Eaton Vance posted earnings per share of $0.70 during the same quarter last year, which suggests a positive year-over-year growth rate of 22.9%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 20th.

On average, analysts expect that Eaton Vance will report full year earnings of $3.21 per share for the current financial year, with EPS estimates ranging from $3.19 to $3.23. For the next financial year, analysts forecast that the firm will post earnings of $3.66 per share, with EPS estimates ranging from $3.63 to $3.74. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Eaton Vance.

Eaton Vance (NYSE:EV) last posted its quarterly earnings data on Wednesday, August 29th. The asset manager reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $430.60 million during the quarter, compared to analyst estimates of $430.11 million. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. Eaton Vance’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS.

Several research firms have recently commented on EV. Citigroup reduced their price objective on Eaton Vance from $65.50 to $62.00 and set a “buy” rating for the company in a research note on Thursday, May 31st. Zacks Investment Research lowered Eaton Vance from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.44.

Shares of NYSE:EV traded down $0.74 during midday trading on Wednesday, hitting $52.77. The company had a trading volume of 400,300 shares, compared to its average volume of 611,589. The company has a debt-to-equity ratio of 1.14, a current ratio of 8.35 and a quick ratio of 8.35. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 0.90 and a beta of 1.62. Eaton Vance has a 12-month low of $48.63 and a 12-month high of $60.95.

A number of institutional investors have recently modified their holdings of the stock. Northern Trust Corp boosted 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 buying an additional 8,815 shares during the period. WINTON GROUP Ltd boosted its holdings in Eaton Vance by 1,857.6% in the 2nd quarter. WINTON GROUP Ltd now owns 172,251 shares of the asset manager’s stock worth $8,990,000 after buying an additional 163,452 shares during the period. Andra AP fonden boosted its holdings in Eaton Vance by 10.1% in the 2nd quarter. Andra AP fonden now owns 127,300 shares of the asset manager’s stock worth $6,644,000 after buying an additional 11,700 shares during the period. Verition Fund Management LLC bought a new position in Eaton Vance in the 2nd quarter worth $758,000. Finally, Millennium Management LLC boosted its holdings in Eaton Vance by 4.4% in the 2nd quarter. Millennium Management LLC now owns 719,552 shares of the asset manager’s stock worth $37,553,000 after buying an additional 30,498 shares during the period. 68.40% of the stock is owned by institutional investors.

About Eaton Vance

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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