Eaton Vance (EV) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Eaton Vance (NYSE:EV) from a sell rating to a hold rating in a report published on Tuesday morning.

A number of other equities analysts have also commented on EV. Zacks Investment Research raised Eaton Vance from a sell rating to a hold rating in a research note on Tuesday. Credit Suisse Group decreased their price target on Eaton Vance from $51.00 to $43.00 and set a neutral rating for the company in a research note on Monday, January 14th. Deutsche Bank lowered Eaton Vance from a buy rating to a hold rating and decreased their price target for the stock from $57.00 to $39.00 in a research note on Thursday, January 10th. Keefe, Bruyette & Woods reissued a hold rating and set a $39.00 price target on shares of Eaton Vance in a research note on Wednesday, January 9th. Finally, Jefferies Financial Group reissued a hold rating and set a $42.00 price target on shares of Eaton Vance in a research note on Tuesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $45.88.

Shares of EV stock opened at $39.70 on Tuesday. The firm has a market capitalization of $4.49 billion, a P/E ratio of 12.37, a PEG ratio of 0.87 and a beta of 1.60. Eaton Vance has a twelve month low of $32.28 and a twelve month high of $60.95. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.67 and a current ratio of 5.67.

Eaton Vance (NYSE:EV) last announced its quarterly earnings results on Tuesday, November 27th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Eaton Vance had a return on equity of 35.94% and a net margin of 22.44%. The firm had revenue of $435.97 million for the quarter, compared to the consensus estimate of $435.02 million. As a group, equities analysts anticipate that Eaton Vance will post 3.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Thursday, January 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, January 30th. This represents a $1.40 annualized dividend and a yield of 3.53%. Eaton Vance’s payout ratio is currently 43.61%.

In related news, Director Winthrop H. Smith, Jr. purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, December 18th. The shares were acquired at an average cost of $34.89 per share, for a total transaction of $348,900.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leo I. Higdon, Jr. sold 5,943 shares of Eaton Vance stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $43.97, for a total value of $261,313.71. The disclosure for this sale can be found here. Insiders have sold a total of 136,984 shares of company stock worth $6,000,600 over the last 90 days.

Several large investors have recently made changes to their positions in the company. BTIM Corp. increased its holdings in shares of Eaton Vance by 6.8% in the 4th quarter. BTIM Corp. now owns 650,114 shares of the asset manager’s stock valued at $22,871,000 after acquiring an additional 41,581 shares during the period. JGP Wealth Management LLC grew its stake in Eaton Vance by 6.3% during the 4th quarter. JGP Wealth Management LLC now owns 33,599 shares of the asset manager’s stock worth $1,182,000 after buying an additional 1,996 shares during the last quarter. Sippican Capital Advisors grew its stake in Eaton Vance by 6.2% during the 4th quarter. Sippican Capital Advisors now owns 8,931 shares of the asset manager’s stock worth $314,000 after buying an additional 525 shares during the last quarter. Virtu Financial LLC purchased a new position in Eaton Vance during the 4th quarter worth $325,000. Finally, Rockland Trust Co. purchased a new position in Eaton Vance during the 4th quarter worth $70,000. Institutional investors and hedge funds own 67.47% of the company’s stock.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Eaton Vance (NYSE:EV)

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