Eaton Vance (NYSE:EV) Announces Earnings Results, Beats Estimates By $0.07 EPS

Eaton Vance (NYSE:EV) released its quarterly earnings results on Tuesday. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.07, Briefing.com reports. Eaton Vance had a net margin of 23.51% and a return on equity of 35.45%. The company had revenue of $433.74 million during the quarter, compared to the consensus estimate of $438.42 million. During the same period in the prior year, the firm earned $0.85 earnings per share. Eaton Vance’s revenue was up .7% on a year-over-year basis.

Shares of NYSE EV opened at $47.46 on Thursday. Eaton Vance has a fifty-two week low of $32.28 and a fifty-two week high of $48.98. The company has a 50 day simple moving average of $46.16 and a two-hundred day simple moving average of $43.20. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 2.48 and a beta of 1.56. The company has a debt-to-equity ratio of 1.98, a quick ratio of 11.85 and a current ratio of 11.85.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.375 per share. This is an increase from Eaton Vance’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.16%. Eaton Vance’s dividend payout ratio (DPR) is currently 43.48%.

In related news, CEO Thomas E. Faust, Jr. sold 54,577 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $46.43, for a total transaction of $2,534,010.11. Also, Director Brian D. Langstraat sold 3,743 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $45.03, for a total transaction of $168,547.29. Insiders have sold 147,964 shares of company stock valued at $6,784,832 in the last ninety days.

A number of research firms recently issued reports on EV. ValuEngine downgraded shares of Eaton Vance from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Evercore ISI reaffirmed a “hold” rating and set a $49.00 target price on shares of Eaton Vance in a research note on Thursday. Credit Suisse Group decreased their target price on shares of Eaton Vance from $53.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Eaton Vance from $44.00 to $42.00 and set an “underweight” rating for the company in a research note on Wednesday, August 28th. Finally, Zacks Investment Research raised shares of Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $45.43.

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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Earnings History for Eaton Vance (NYSE:EV)

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