Trade Report: Today, Jefferies Group Reaffirmed “Hold” Rating for Eaton Vance Corp. (EV)

Today, Jefferies Group Reaffirmed “Hold” Rating for Eaton Vance Corp. (EV)

Jefferies Group restated their hold rating on shares of Eaton Vance Corp. (NYSE:EV) in a report released on Wednesday. Jefferies Group currently has a $37.00 price target on the stock.

“EV reported F4Q16 adjusted EPS of $0.57 (JEF $0.60 / Consensus $0.59). Operating income missed our forecast by -$4.6M as blended fee rates continued to trend lower (down ~2% q/q) and compensation was slightly above expectations (+$2.4M).”,” the firm’s analyst commented.

A number of other brokerages also recently commented on EV. Zacks Investment Research downgraded shares of Eaton Vance Corp. from a buy rating to a hold rating in a research report on Thursday, September 15th. Credit Suisse Group AG reiterated a hold rating and issued a $37.00 target price on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. Citigroup Inc. reiterated a neutral rating on shares of Eaton Vance Corp. in a research note on Sunday, October 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $36.27.

Eaton Vance Corp. (NYSE:EV) opened at 39.97 on Wednesday. Eaton Vance Corp. has a one year low of $26.44 and a one year high of $40.85. The firm’s 50-day moving average is $37.73 and its 200 day moving average is $37.47. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 19.20 and a beta of 1.78.

Eaton Vance Corp. (NYSE:EV) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by $0.02. Eaton Vance Corp. had a net margin of 17.97% and a return on equity of 38.30%. The company had revenue of $346.85 million for the quarter, compared to analysts’ expectations of $341.46 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts forecast that Eaton Vance Corp. will post $2.43 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.80%. This is a boost from Eaton Vance Corp.’s previous quarterly dividend of $0.27. The ex-dividend date was Thursday, October 27th. Eaton Vance Corp.’s payout ratio is presently 53.33%.

In related news, Director Dorothy E. Puhy sold 6,197 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $38.75, for a total transaction of $240,133.75. Following the transaction, the director now owns 15,787 shares of the company’s stock, valued at $611,746.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas E. Faust, Jr. sold 166,789 shares of the business’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $35.94, for a total transaction of $5,994,396.66. Following the transaction, the chief executive officer now directly owns 2,589,258 shares in the company, valued at approximately $93,057,932.52. The disclosure for this sale can be found here.

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Eaton Vance Corp. by 9.1% in the first quarter. Geode Capital Management LLC now owns 762,095 shares of the company’s stock worth $25,534,000 after buying an additional 63,820 shares during the period. Legal & General Group Plc raised its position in shares of Eaton Vance Corp. by 13.0% in the first quarter. Legal & General Group Plc now owns 94,016 shares of the company’s stock worth $3,152,000 after buying an additional 10,817 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Eaton Vance Corp. by 0.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 109,460 shares of the company’s stock worth $3,669,000 after buying an additional 568 shares during the period. Barclays PLC raised its position in shares of Eaton Vance Corp. by 9.6% in the first quarter. Barclays PLC now owns 51,276 shares of the company’s stock worth $1,692,000 after buying an additional 4,471 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Eaton Vance Corp. by 1.1% in the first quarter. Arizona State Retirement System now owns 71,331 shares of the company’s stock worth $2,391,000 after buying an additional 800 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

About Eaton Vance Corp.

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