Eaton Vance (EV) Cut to Hold at ValuEngine

ValuEngine downgraded shares of Eaton Vance (NYSE:EV) from a buy rating to a hold rating in a research report report published on Wednesday.

EV has been the subject of a number of other reports. Deutsche Bank reduced their price objective on shares of Eaton Vance from $62.00 to $61.00 and set a buy rating for the company in a research report on Tuesday, March 6th. Zacks Investment Research raised shares of Eaton Vance from a sell rating to a hold rating in a research report on Friday, May 18th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $59.00 price objective on shares of Eaton Vance in a research report on Wednesday, April 11th. Citigroup lifted their price objective on shares of Eaton Vance from $63.50 to $65.50 and gave the stock a buy rating in a research report on Tuesday. Finally, Credit Suisse Group lifted their price objective on shares of Eaton Vance from $57.00 to $61.00 and gave the stock a neutral rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $59.06.

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Eaton Vance opened at $54.98 on Wednesday, Marketbeat reports. The company has a debt-to-equity ratio of 0.65, a current ratio of 8.05 and a quick ratio of 9.40. Eaton Vance has a one year low of $45.06 and a one year high of $60.95. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 0.90 and a beta of 1.70.

Eaton Vance (NYSE:EV) last released its quarterly earnings data on Tuesday, May 22nd. The asset manager reported $0.77 EPS for the quarter, hitting the Zacks’ 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 analysts’ expectations of $421.71 million. During the same period in the previous year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. sell-side analysts anticipate that Eaton Vance will post 3.2 earnings per share for the current fiscal year.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank lifted its holdings in shares of Eaton Vance by 8.1% during the first quarter. Amalgamated Bank now owns 25,532 shares of the asset manager’s stock worth $1,421,000 after buying an additional 1,914 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Eaton Vance by 4.4% during the first quarter. Principal Financial Group Inc. now owns 523,934 shares of the asset manager’s stock worth $29,167,000 after buying an additional 21,855 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Eaton Vance during the first quarter worth $490,000. Handelsbanken Fonder AB lifted its holdings in shares of Eaton Vance by 13.6% during the first quarter. Handelsbanken Fonder AB now owns 500,000 shares of the asset manager’s stock worth $27,835,000 after buying an additional 60,000 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Eaton Vance by 11.5% during the first quarter. Legal & General Group Plc now owns 260,541 shares of the asset manager’s stock worth $14,504,000 after buying an additional 26,948 shares in the last quarter. 68.94% of the stock is owned by institutional investors.

Eaton Vance Company Profile

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.

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