Zacks: Brokerages Expect Envestnet Inc (ENV) to Post $0.50 Earnings Per Share

Wall Street brokerages forecast that Envestnet Inc (NYSE:ENV) will report $0.50 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Envestnet’s earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.50. Envestnet posted earnings per share of $0.37 in the same quarter last year, which would suggest a positive year-over-year growth rate of 35.1%. The firm is expected to issue its next earnings report on Wednesday, November 14th.

On average, analysts expect that Envestnet will report full-year earnings of $1.88 per share for the current year, with EPS estimates ranging from $1.85 to $1.90. For the next financial year, analysts forecast that the firm will post earnings of $2.22 per share, with EPS estimates ranging from $2.20 to $2.25. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Envestnet.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Tuesday, August 7th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. Envestnet had a net margin of 2.50% and a return on equity of 10.75%. The firm had revenue of $201.12 million for the quarter, compared to analysts’ expectations of $199.52 million.

ENV has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Envestnet from a “hold” rating to a “sell” rating in a report on Monday, April 30th. DA Davidson lifted their price objective on shares of Envestnet to $56.00 and gave the stock an “average” rating in a research report on Thursday, July 5th. JPMorgan Chase & Co. began coverage on shares of Envestnet in a research report on Thursday, July 12th. They issued an “overweight” rating and a $70.00 price objective on the stock. TheStreet raised shares of Envestnet from a “c+” rating to a “b-” rating in a research report on Monday, July 16th. Finally, UBS Group lifted their price objective on shares of Envestnet from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Envestnet currently has a consensus rating of “Buy” and a consensus price target of $60.11.

In other Envestnet news, Director Gayle A. Crowell sold 2,934 shares of the business’s stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $54.35, for a total value of $159,462.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shelly O’brien sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $54.23, for a total transaction of $216,920.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,685 shares of company stock valued at $1,580,888. 7.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC purchased a new stake in Envestnet during the 4th quarter valued at about $233,000. Macquarie Group Ltd. purchased a new stake in Envestnet during the 4th quarter valued at about $194,000. Envestnet Asset Management Inc. grew its position in Envestnet by 152.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,850 shares of the business services provider’s stock valued at $341,000 after purchasing an additional 4,139 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Envestnet during the 4th quarter valued at about $225,000. Finally, Global X Management Co. LLC grew its position in Envestnet by 89.8% during the 1st quarter. Global X Management Co. LLC now owns 50,753 shares of the business services provider’s stock valued at $2,908,000 after purchasing an additional 24,015 shares during the last quarter. 91.67% of the stock is owned by institutional investors and hedge funds.

Envestnet remained flat at $$58.95 on Friday, according to MarketBeat Ratings. 250,110 shares of the company were exchanged, compared to its average volume of 302,254. Envestnet has a twelve month low of $38.00 and a twelve month high of $62.95. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 66.99, a P/E/G ratio of 3.34 and a beta of 1.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.86 and a current ratio of 1.41.

About Envestnet

Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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