$0.45 EPS Expected for Envestnet Inc (NYSE:ENV) This Quarter

Wall Street brokerages expect that Envestnet Inc (NYSE:ENV) will announce earnings of $0.45 per share for the current quarter, according to Zacks. Six analysts have issued estimates for Envestnet’s earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.33. Envestnet reported earnings per share of $0.46 during the same quarter last year, which indicates a negative year-over-year growth rate of 2.2%. The company is scheduled to issue its next quarterly earnings report on Wednesday, August 5th.

According to Zacks, analysts expect that Envestnet will report full-year earnings of $2.07 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.13. For the next financial year, analysts expect that the business will report earnings of $2.36 per share, with EPS estimates ranging from $2.25 to $2.62. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Envestnet.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.12. The firm had revenue of $246.50 million for the quarter, compared to analyst estimates of $242.32 million. Envestnet had a positive return on equity of 8.94% and a negative net margin of 0.66%. The business’s revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share.

A number of equities analysts recently commented on ENV shares. DA Davidson reduced their price objective on Envestnet from $76.00 to $68.00 in a research report on Friday, March 13th. Jefferies Financial Group lifted their price objective on Envestnet from $72.00 to $76.00 in a research report on Tuesday, May 12th. JPMorgan Chase & Co. reduced their price objective on Envestnet from $75.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. Raymond James reduced their price objective on Envestnet from $86.00 to $80.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 8th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $68.00 price objective on shares of Envestnet in a research report on Sunday, May 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $74.50.

In other news, COO Joshua Mayer sold 2,017 shares of Envestnet stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $74.04, for a total value of $149,338.68. Following the completion of the sale, the chief operating officer now directly owns 19,991 shares of the company’s stock, valued at $1,480,133.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CIO Brandon Thomas sold 13,098 shares of Envestnet stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $74.38, for a total value of $974,229.24. Following the completion of the sale, the executive now directly owns 282,570 shares of the company’s stock, valued at $21,017,556.60. The disclosure for this sale can be found here. Insiders sold 47,653 shares of company stock valued at $3,284,644 over the last ninety days. Insiders own 2.44% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Asset Management One Co. Ltd. acquired a new stake in shares of Envestnet in the first quarter valued at $33,000. Keebeck Wealth Management LLC acquired a new position in Envestnet during the 4th quarter worth $47,000. Marshall Wace LLP acquired a new position in Envestnet during the 1st quarter worth $50,000. NumerixS Investment Technologies Inc grew its stake in Envestnet by 102.7% during the 4th quarter. NumerixS Investment Technologies Inc now owns 900 shares of the business services provider’s stock worth $63,000 after purchasing an additional 456 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Envestnet during the 1st quarter worth $65,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:ENV traded up $0.08 during trading on Tuesday, reaching $74.83. The stock had a trading volume of 229,377 shares, compared to its average volume of 454,574. Envestnet has a 1-year low of $45.53 and a 1-year high of $87.75. The stock has a market cap of $4.00 billion, a PE ratio of -680.27 and a beta of 1.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.92 and a current ratio of 0.92. The business has a fifty day moving average price of $72.19 and a 200-day moving average price of $68.92.

About Envestnet

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 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.

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