Cfra Increases Eaton Vance (NYSE:EV) Price Target to $43.00

Eaton Vance (NYSE:EV) had its target price upped by Cfra from $37.00 to $43.00 in a research report report published on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the asset manager’s stock.

A number of other analysts also recently commented on EV. Zacks Investment Research downgraded shares of Eaton Vance from a hold rating to a sell rating and set a $40.00 target price on the stock. in a report on Tuesday, May 12th. JPMorgan Chase & Co. dropped their target price on shares of Eaton Vance from $37.00 to $35.00 and set a neutral rating on the stock in a report on Thursday, May 21st. ValuEngine upgraded shares of Eaton Vance from a strong sell rating to a sell rating in a report on Tuesday, February 4th. Bank of America boosted their target price on shares of Eaton Vance from $34.00 to $38.00 and gave the stock a neutral rating in a report on Thursday, May 21st. Finally, Deutsche Bank boosted their target price on shares of Eaton Vance from $36.00 to $37.00 and gave the stock a hold rating in a report on Friday, May 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $39.13.

EV stock opened at $37.25 on Friday. Eaton Vance has a 52 week low of $23.59 and a 52 week high of $51.79. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 1.81 and a beta of 1.48. The firm’s 50-day moving average is $35.02 and its two-hundred day moving average is $41.47. The company has a current ratio of 4.93, a quick ratio of 5.98 and a debt-to-equity ratio of 1.34.

Eaton Vance (NYSE:EV) last released its quarterly earnings results on Wednesday, May 20th. The asset manager reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. Eaton Vance had a net margin of 22.48% and a return on equity of 32.92%. The company had revenue of $405.90 million for the quarter, compared to the consensus estimate of $421.55 million. During the same period in the previous year, the firm earned $0.89 EPS. Eaton Vance’s revenue was down 1.5% on a year-over-year basis. On average, equities research analysts predict that Eaton Vance will post 3.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.03%. Eaton Vance’s dividend payout ratio is currently 43.48%.

Several hedge funds have recently added to or reduced their stakes in the company. State of Tennessee Treasury Department raised its holdings in shares of Eaton Vance by 102.6% during the first quarter. State of Tennessee Treasury Department now owns 72,652 shares of the asset manager’s stock valued at $2,343,000 after acquiring an additional 36,794 shares during the period. The Manufacturers Life Insurance Company grew its position in Eaton Vance by 2.0% during the first quarter. The Manufacturers Life Insurance Company now owns 162,054 shares of the asset manager’s stock valued at $5,226,000 after purchasing an additional 3,213 shares in the last quarter. JLB & Associates Inc. grew its position in Eaton Vance by 3.2% during the first quarter. JLB & Associates Inc. now owns 217,333 shares of the asset manager’s stock valued at $7,008,000 after purchasing an additional 6,687 shares in the last quarter. APG Asset Management N.V. grew its position in Eaton Vance by 23.8% during the first quarter. APG Asset Management N.V. now owns 119,473 shares of the asset manager’s stock valued at $3,853,000 after purchasing an additional 22,949 shares in the last quarter. Finally, Prana Capital Management LP grew its position in Eaton Vance by 196.9% during the first quarter. Prana Capital Management LP now owns 126,740 shares of the asset manager’s stock valued at $4,087,000 after purchasing an additional 84,048 shares in the last quarter. Institutional investors and hedge funds own 67.25% of the company’s stock.

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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Analyst Recommendations for Eaton Vance (NYSE:EV)

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