Brokerages expect Eaton Vance Corp (NYSE:EV) to report $441.14 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Eaton Vance's earnings. The highest sales estimate is $445.87 million and the lowest is $437.76 million. Eaton Vance reported sales of $433.74 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.7%. The company is expected to issue its next earnings results on Tuesday, November 24th.
On average, analysts expect that Eaton Vance will report full year sales of $1.72 billion for the current year, with estimates ranging from $1.72 billion to $1.73 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.82 billion, with estimates ranging from $1.79 billion to $1.89 billion. Zacks' sales averages are a mean average based on a survey of research analysts that cover Eaton Vance.
Eaton Vance (NYSE:EV) last announced its quarterly earnings data on Wednesday, August 26th. The asset manager reported $0.82 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.78 by $0.04. The business had revenue of $420.80 million for the quarter, compared to analysts' expectations of $411.05 million. Eaton Vance had a net margin of 16.56% and a return on equity of 31.17%. The business's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share.
EV has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Eaton Vance from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $44.00 to $50.00 in a report on Thursday, August 27th. Deutsche Bank cut their price target on shares of Eaton Vance from $41.00 to $37.00 and set a "hold" rating on the stock in a report on Thursday, July 9th. ValuEngine cut shares of Eaton Vance from a "hold" rating to a "sell" rating in a report on Friday, August 21st. TheStreet upgraded shares of Eaton Vance from a "c" rating to a "b-" rating in a report on Friday, June 19th. Finally, Citigroup increased their price target on shares of Eaton Vance from $42.00 to $43.00 and gave the company a "neutral" rating in a report on Thursday, August 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Eaton Vance has a consensus rating of "Hold" and a consensus price target of $43.75.
Hedge funds have recently modified their holdings of the stock. Ovata Capital Management Ltd purchased a new stake in Eaton Vance in the second quarter worth approximately $57,000. Creative Financial Designs Inc. ADV purchased a new stake in Eaton Vance in the second quarter worth approximately $27,000. Advisors Asset Management Inc. purchased a new stake in Eaton Vance in the second quarter worth approximately $47,000. Cerebellum GP LLC purchased a new stake in Eaton Vance in the second quarter worth approximately $128,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Eaton Vance in the first quarter worth approximately $77,000. Institutional investors own 68.35% of the company's stock.
Shares of EV opened at $38.33 on Wednesday. The stock has a market cap of $4.38 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.04 and a beta of 1.46. Eaton Vance has a fifty-two week low of $23.59 and a fifty-two week high of $51.79. The firm's 50-day simple moving average is $38.78 and its two-hundred day simple moving average is $36.73.
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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