Jefferies Group LLC reaffirmed their hold rating on shares of Eaton Vance Corporation (NYSE:EV) in a report released on Friday morning. The brokerage currently has a $46.00 price objective on the asset manager’s stock. Jefferies Group also issued estimates for Eaton Vance Corporation’s Q3 2017 earnings at $0.65 EPS, Q4 2017 earnings at $0.72 EPS, FY2017 earnings at $2.52 EPS and FY2018 earnings at $2.93 EPS.
Several other equities research analysts also recently issued reports on EV. Zacks Investment Research downgraded shares of Eaton Vance Corporation from a hold rating to a sell rating in a research note on Monday, May 1st. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $50.00 price target on shares of Eaton Vance Corporation in a research note on Tuesday, May 23rd. Bank of America Corporation lifted their price target on shares of Eaton Vance Corporation from $47.00 to $49.00 and gave the stock a neutral rating in a research note on Thursday, May 25th. Citigroup Inc. lifted their price target on shares of Eaton Vance Corporation from $46.50 to $51.00 and gave the stock a neutral rating in a research note on Thursday, May 25th. Finally, J P Morgan Chase & Co reaffirmed an underweight rating and set a $47.00 price target (up previously from $40.00) on shares of Eaton Vance Corporation in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $50.07.
Eaton Vance Corporation (NYSE EV) traded up 0.26% during mid-day trading on Friday, hitting $46.76. The stock had a trading volume of 477,061 shares. Eaton Vance Corporation has a one year low of $34.44 and a one year high of $50.10. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 20.50 and a beta of 1.84. The company has a 50 day moving average price of $48.18 and a 200-day moving average price of $45.98.
Eaton Vance Corporation (NYSE:EV) last issued its earnings results on Wednesday, May 24th. The asset manager reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Eaton Vance Corporation had a net margin of 18.39% and a return on equity of 36.63%. The business had revenue of $374.60 million for the quarter, compared to the consensus estimate of $373.28 million. During the same quarter last year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts expect that Eaton Vance Corporation will post $2.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, July 27th. Eaton Vance Corporation’s dividend payout ratio (DPR) is 49.34%.
In other news, Director Dorothy E. Puhy sold 2,563 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $48.46, for a total value of $124,202.98. Following the completion of the sale, the director now owns 14,473 shares of the company’s stock, valued at approximately $701,361.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Winthrop H. Smith, Jr. sold 21,885 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,051,136.55. Following the completion of the sale, the director now directly owns 15,420 shares of the company’s stock, valued at approximately $740,622.60. The disclosure for this sale can be found here. Insiders have sold a total of 127,943 shares of company stock worth $6,149,649 in the last ninety days.
Several large investors have recently added to or reduced their stakes in the company. WFG Advisors LP increased its stake in Eaton Vance Corporation by 0.6% in the second quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock valued at $111,000 after buying an additional 14 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Eaton Vance Corporation during the second quarter valued at $748,000. Verition Fund Management LLC increased its stake in Eaton Vance Corporation by 53.4% in the second quarter. Verition Fund Management LLC now owns 16,995 shares of the asset manager’s stock valued at $804,000 after buying an additional 5,913 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Eaton Vance Corporation by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 34,453 shares of the asset manager’s stock valued at $1,630,000 after buying an additional 620 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Eaton Vance Corporation during the second quarter valued at $439,000. 71.01% of the stock is owned by institutional investors.
Eaton Vance Corporation Company Profile
Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.
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