Analysts Set Eaton Vance Corp (EV) Target Price at $50.43

Eaton Vance Corp (NYSE:EV) has earned an average rating of “Hold” from the nine analysts that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $50.00.

Several equities analysts have recently commented on the stock. ValuEngine lowered shares of Eaton Vance from a “hold” rating to a “sell” rating in a research report on Friday. Jefferies Financial Group restated a “hold” rating and set a $42.00 price target on shares of Eaton Vance in a research report on Tuesday. JPMorgan Chase & Co. lowered shares of Eaton Vance from a “neutral” rating to an “underweight” rating and set a $38.00 price target for the company. in a research report on Wednesday, November 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 target price on shares of Eaton Vance in a research report on Monday, November 19th. Finally, Citigroup lowered shares of Eaton Vance from a “buy” rating to a “neutral” rating and decreased their target price for the company from $60.50 to $47.00 in a research report on Monday, November 19th.

In related news, CEO Thomas E. Faust, Jr. sold 43,500 shares of the stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $43.01, for a total value of $1,870,935.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas E. Faust, Jr. sold 54,134 shares of the stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $43.38, for a total transaction of $2,348,332.92. The disclosure for this sale can be found here. Insiders sold a total of 149,984 shares of company stock valued at $6,618,100 in the last quarter.

Large investors have recently bought and sold shares of the company. Cerebellum GP LLC boosted its position in shares of Eaton Vance by 525.0% during the 3rd quarter. Cerebellum GP LLC now owns 3,325 shares of the asset manager’s stock valued at $175,000 after purchasing an additional 2,793 shares in the last quarter. Korea Investment CORP bought a new position in shares of Eaton Vance during the 2nd quarter valued at about $193,000. Daiwa SB Investments Ltd. bought a new position in shares of Eaton Vance during the 3rd quarter valued at about $200,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Eaton Vance during the 2nd quarter valued at about $227,000. Finally, Gideon Capital Advisors Inc. bought a new position in shares of Eaton Vance during the 2nd quarter valued at about $232,000. Institutional investors own 66.64% of the company’s stock.

Shares of Eaton Vance stock traded down $1.25 during trading on Monday, hitting $36.82. 932,484 shares of the stock were exchanged, compared to its average volume of 911,897. The firm has a market capitalization of $4.49 billion, a P/E ratio of 11.47, a P/E/G ratio of 0.83 and a beta of 1.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 8.35 and a current ratio of 5.08. Eaton Vance has a 12 month low of $36.73 and a 12 month high of $60.95.

Eaton Vance (NYSE:EV) last released its quarterly earnings results on Tuesday, November 27th. The asset manager reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $435.97 million during the quarter, compared to analyst estimates of $435.02 million. Eaton Vance had a net margin of 22.44% and a return on equity of 35.94%. As a group, sell-side analysts forecast that Eaton Vance will post 3.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Wednesday, October 31st were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Tuesday, October 30th. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. Eaton Vance’s dividend payout ratio is currently 43.61%.

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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Analyst Recommendations for Eaton Vance (NYSE:EV)

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