Envestnet (ENV) Set to Announce Quarterly Earnings on Wednesday

Envestnet (NYSE:ENV) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, November 7th. Analysts expect the company to announce earnings of $0.34 per share for the quarter. Envestnet has set its Q3 guidance at approx $0.50 EPS and its FY18 guidance at $1.85-1.89 EPS.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Tuesday, August 7th. The business services provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The firm had revenue of $201.12 million during the quarter, compared to analysts’ expectations of $199.52 million. Envestnet had a return on equity of 10.75% and a net margin of 2.50%. On average, analysts expect Envestnet to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NYSE ENV traded up $1.77 on Wednesday, reaching $52.23. The company had a trading volume of 56,785 shares, compared to its average volume of 271,415. The stock has a market cap of $2.34 billion, a PE ratio of 59.35, a P/E/G ratio of 2.86 and a beta of 1.94. Envestnet has a 1 year low of $47.45 and a 1 year high of $64.80. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.90.

A number of equities analysts have issued reports on the company. DA Davidson upped their target price on Envestnet to $56.00 and gave the company an “average” rating in a research report on Thursday, July 5th. UBS Group upped their target price on Envestnet from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 10th. JPMorgan Chase & Co. assumed coverage on Envestnet in a research report on Thursday, July 12th. They issued an “overweight” rating and a $70.00 target price on the stock. TheStreet lowered Envestnet from a “b-” rating to a “c+” rating in a research report on Wednesday, October 10th. Finally, Zacks Investment Research raised Envestnet from a “sell” rating to a “hold” rating in a research report on Monday, August 13th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $63.50.

In related news, insider Anil Arora sold 567 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $62.41, for a total transaction of $35,386.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President William Crager sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $60.99, for a total value of $731,880.00. Following the sale, the president now directly owns 212,252 shares in the company, valued at $12,945,249.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,883 shares of company stock worth $3,373,214. Corporate insiders own 5.49% of the company’s stock.

Envestnet Company Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

Further Reading: Growth Stocks

Earnings History for Envestnet (NYSE:ENV)

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