Today, Q1 2017 EPS Estimates for Eaton Vance Corp. (EV) Reduced by William Blair

Today, Q1 2017 EPS Estimates for Eaton Vance Corp. (EV) Reduced by William Blair
Eaton Vance Corp. (NYSE:EV) – Equities researchers at William Blair lowered their Q1 2017 earnings per share (EPS) estimates for shares of Eaton Vance Corp. in a report issued on Tuesday. William Blair analyst C. Shutler now expects that the firm will post earnings per share of $0.55 for the quarter, down from their previous forecast of $0.58. William Blair also issued estimates for Eaton Vance Corp.’s Q2 2017 earnings at $0.56 EPS, Q3 2017 earnings at $0.64 EPS and Q4 2017 earnings at $0.67 EPS.

Several other analysts have also recently issued reports on EV. Jefferies Group reiterated a “hold” rating and issued a $37.00 price objective on shares of Eaton Vance Corp. in a research note on Wednesday. Keefe, Bruyette & Woods raised their price target on Eaton Vance Corp. from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, August 19th. Zacks Investment Research cut Eaton Vance Corp. from a “hold” rating to a “sell” rating in a research note on Monday, November 21st. Citigroup Inc. restated a “neutral” rating on shares of Eaton Vance Corp. in a research note on Sunday, October 23rd. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $37.00 price target on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $36.27.

Shares of Eaton Vance Corp. (NYSE:EV) opened at 40.63 on Thursday. The stock has a market cap of $4.43 billion, a P/E ratio of 19.51 and a beta of 1.78. The stock has a 50 day moving average price of $37.69 and a 200-day moving average price of $37.40. Eaton Vance Corp. has a 52 week low of $26.44 and a 52 week high of $40.85.

Eaton Vance Corp. (NYSE:EV) last issued its earnings results on Tuesday, November 22nd. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by $0.02. Eaton Vance Corp. had a return on equity of 38.30% and a net margin of 17.97%. The company earned $346.85 million during the quarter, compared to analysts’ expectations of $341.46 million. During the same quarter in the previous year, the company earned $0.53 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were given a dividend of $0.28 per share. The ex-dividend date was Thursday, October 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.76%. This is a boost from Eaton Vance Corp.’s previous quarterly dividend of $0.27. Eaton Vance Corp.’s payout ratio is 53.33%.

In other news, CFO Laurie G. Hylton sold 25,184 shares of Eaton Vance Corp. stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $35.20, for a total transaction of $886,476.80. Following the sale, the chief financial officer now owns 201,745 shares in the company, valued at $7,101,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas E. Faust, Jr. sold 25,537 shares of Eaton Vance Corp. stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $35.33, for a total value of $902,222.21. Following the sale, the chief executive officer now owns 2,722,582 shares in the company, valued at approximately $96,188,822.06. The disclosure for this sale can be found here.

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in Eaton Vance Corp. by 683.9% in the second quarter. American Century Companies Inc. now owns 1,020,561 shares of the company’s stock worth $36,067,000 after buying an additional 890,365 shares during the period. Smith Asset Management Group LP purchased a new stake in Eaton Vance Corp. during the second quarter worth approximately $12,635,000. Schroder Investment Management Group boosted its stake in Eaton Vance Corp. by 56.8% in the third quarter. Schroder Investment Management Group now owns 800,635 shares of the company’s stock worth $31,265,000 after buying an additional 289,896 shares during the period. Vanguard Group Inc. boosted its stake in Eaton Vance Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 9,089,659 shares of the company’s stock worth $321,229,000 after buying an additional 270,956 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new stake in Eaton Vance Corp. during the second quarter worth approximately $7,446,000. Institutional investors and hedge funds own 72.30% of the company’s stock.

About Eaton Vance Corp.

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