Eaton Vance Corp Rating Reiterated by Keefe, Bruyette & Woods (EV)

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Eaton Vance Corp (NYSE:EV)‘s stock had its “hold” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Friday. They currently have a $41.00 price target on the stock, up from their previous price target of $38.00. Keefe, Bruyette & Woods’ target price points to a potential upside of 9.83% from the stock’s previous close.

The analysts wrote, “Capital deployment strategies today are focused on consistently buying back stock (16% of shares to date) as M&A in NBHC’s core markets has yet to materialize. With the stock anchored around TBV (1.04x), buybacks remain a disciplined and low-risk strategy today; however, the more significant value unlock lies in fully normalizing its capital position and achieving greater visibility on the embedded ROAA potential. To us, downside risk remains fairly limited and while upside potential is arguably much higher than current levels, it does require patience.”

A number of other analysts have also recently weighed in on EV. Analysts at Credit Suisse raised their price target on shares of Eaton Vance Corp from $43.00 to $44.00 in a research note on Thursday. Separately, analysts at Citigroup Inc. raised their price target on shares of Eaton Vance Corp from $35.00 to $37.00 in a research note on Thursday. They now have a “hold” rating on the stock. Finally, analysts at RBC Capital cut their price target on shares of Eaton Vance Corp from $48.00 to $46.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Eaton Vance Corp currently has a consensus rating of “Hold” and an average target price of $40.00.

Eaton Vance Corp (NYSE:EV) traded up 0.03% on Friday, hitting $37.34. 248,243 shares of the company’s stock traded hands. Eaton Vance Corp has a 52 week low of $35.00 and a 52 week high of $43.82. The stock’s 50-day moving average is $36.53 and its 200-day moving average is $39.06. The company has a market cap of $4.508 billion and a P/E ratio of 20.83.

Eaton Vance Corp (NYSE:EV) last announced its earnings results on Wednesday, May 21st. The company reported $0.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.56 by $0.03. The company had revenue of $354.10 million for the quarter, compared to the consensus estimate of $351.30 million. During the same quarter last year, the company posted $0.52 earnings per share. Eaton Vance Corp’s revenue was up 6.8% compared to the same quarter last year. On average, analysts predict that Eaton Vance Corp will post $2.41 earnings per share for the current fiscal year.

Eaton Vance Corp. is engaged in managing investment funds and providing investment management and counseling services to high-net-worth individuals and institutions.

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