Analysts Set Eaton Vance Corp (EV) PT at $57.29

Eaton Vance Corp (NYSE:EV) has been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $57.29.

Several analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Eaton Vance from $63.50 to $65.50 and gave the stock a “buy” rating in a research note on Tuesday, May 22nd. Zacks Investment Research upgraded shares of Eaton Vance from a “sell” rating to a “hold” rating in a research note on Friday, May 18th. JPMorgan Chase & Co. set a $58.00 target price on shares of Eaton Vance and gave the stock a “hold” rating in a research note on Wednesday, February 21st. ValuEngine upgraded shares of Eaton Vance from a “hold” rating to a “buy” rating in a research note on Monday, May 7th. Finally, Credit Suisse Group upped their target price on shares of Eaton Vance from $57.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 23rd.

Eaton Vance opened at $54.95 on Monday, according to Marketbeat. Eaton Vance has a 1 year low of $45.06 and a 1 year high of $60.95. The company has a debt-to-equity ratio of 0.67, a current ratio of 8.05 and a quick ratio of 8.05. The firm has a market capitalization of $6.71 billion, a PE ratio of 22.16, a PEG ratio of 0.91 and a beta of 1.69.

Eaton Vance (NYSE:EV) last posted its earnings results on Tuesday, May 22nd. The asset manager reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Eaton Vance had a net margin of 19.82% and a return on equity of 33.96%. The firm had revenue of $414.30 million during the quarter, compared to analyst estimates of $421.71 million. During the same quarter in the prior year, the business posted $0.62 EPS. The business’s revenue was up 10.6% compared to the same quarter last year. analysts forecast that Eaton Vance will post 3.2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Friday, April 27th. Eaton Vance’s dividend payout ratio (DPR) is currently 50.00%.

Several large investors have recently modified their holdings of EV. Goldman Sachs Group Inc. boosted its holdings in shares of Eaton Vance by 199.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,576,133 shares of the asset manager’s stock worth $88,879,000 after buying an additional 1,049,947 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Eaton Vance by 5.0% in the 4th quarter. BlackRock Inc. now owns 11,297,677 shares of the asset manager’s stock worth $637,078,000 after buying an additional 533,248 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Eaton Vance by 89.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 536,400 shares of the asset manager’s stock worth $29,861,000 after buying an additional 252,900 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Eaton Vance by 123.8% in the 4th quarter. Deutsche Bank AG now owns 403,787 shares of the asset manager’s stock worth $22,767,000 after buying an additional 223,342 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Eaton Vance in the 4th quarter worth about $8,380,000. 68.98% of the stock is currently owned by institutional investors.

About Eaton Vance

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.

Analyst Recommendations for Eaton Vance (NYSE:EV)

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