$405.66 Million in Sales Expected for Eaton Vance Corp (EV) This Quarter

Analysts forecast that Eaton Vance Corp (NYSE:EV) will report $405.66 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Eaton Vance’s earnings. The highest sales estimate is $415.31 million and the lowest is $400.18 million. Eaton Vance posted sales of $414.26 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.1%. The business is expected to report its next quarterly earnings report on Tuesday, May 28th.

According to Zacks, analysts expect that Eaton Vance will report full year sales of $1.67 billion for the current financial year, with estimates ranging from $1.65 billion to $1.72 billion. For the next year, analysts anticipate that the firm will post sales of $1.77 billion, with estimates ranging from $1.73 billion to $1.84 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Eaton Vance.

Eaton Vance (NYSE:EV) last posted its quarterly earnings data on Tuesday, February 26th. The asset manager reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). Eaton Vance had a net margin of 23.16% and a return on equity of 35.03%. The firm had revenue of $406.42 million for the quarter, compared to analysts’ expectations of $421.97 million. During the same period in the prior year, the company posted $0.78 earnings per share. Eaton Vance’s quarterly revenue was down 3.3% compared to the same quarter last year.

A number of research firms recently commented on EV. Zacks Investment Research upgraded Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Tuesday, April 30th. ValuEngine cut Eaton Vance from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $39.00 target price on shares of Eaton Vance in a research report on Wednesday, January 9th. Deutsche Bank cut Eaton Vance from a “buy” rating to a “hold” rating and decreased their target price for the stock from $57.00 to $39.00 in a research report on Thursday, January 10th. Finally, Credit Suisse Group decreased their target price on Eaton Vance from $51.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, January 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Eaton Vance has a consensus rating of “Hold” and a consensus price target of $42.00.

In other news, Director Brian D. Langstraat sold 7,740 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $41.76, for a total value of $323,222.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

A number of hedge funds have recently modified their holdings of EV. Intercontinental Wealth Advisors LLC bought a new position in Eaton Vance in the fourth quarter worth $25,000. Essex Savings Bank acquired a new position in Eaton Vance during the fourth quarter worth $25,000. Lindbrook Capital LLC acquired a new position in Eaton Vance during the fourth quarter worth $31,000. Quadrant Capital Group LLC raised its stake in Eaton Vance by 295.2% during the first quarter. Quadrant Capital Group LLC now owns 913 shares of the asset manager’s stock worth $33,000 after acquiring an additional 682 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Eaton Vance by 3,313.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,189,498 shares of the asset manager’s stock worth $62,000 after acquiring an additional 2,125,364 shares in the last quarter. 70.52% of the stock is owned by hedge funds and other institutional investors.

NYSE:EV traded down $0.48 during mid-day trading on Friday, reaching $39.44. The stock had a trading volume of 450,990 shares, compared to its average volume of 974,381. Eaton Vance has a fifty-two week low of $32.28 and a fifty-two week high of $58.54. The company has a market capitalization of $4.63 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.74 and a beta of 1.60. 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 disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 3.55%. Eaton Vance’s dividend payout ratio is 43.61%.

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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