Eaton Vance Corp. [NYSE: EV] loss -0.98% on the last trading session, reaching $73.07 price per share at the time. The company report on February 26, 2021 that Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions.
The Eaton Vance closed-end funds listed below released the estimated sources of their February distributions (each a “Fund”). This press release is issued as required by the Funds’ managed distribution plan (Plan) and an exemptive order received from the U.S. Securities and Exchange Commission. The Board of Trustees has approved the implementation of the Plan to make monthly, as noted below, cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the February distribution. It is not determinative of the tax character of a Fund’s distributions for the 2021 calendar year. Shareholders should note that each Fund’s total regular distribution amount is subject to change as a result of market conditions or other factors.
IMPORTANT DISCLOSURE: You should not draw any conclusions about each Fund’s investment performance from the amount of this distribution or from the terms of each Fund’s Plan. Each Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in each Fund is paid back to you. A return of capital distribution does not necessarily reflect each Fund’s investment performance and should not be confused with “yield” or “income.” The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Eaton Vance Corp. represents 110.70 million in outstanding shares, while the company has a total market value of $8.46 billion with the latest information. EV stock price has been found in the range of $72.68 to $74.20.
If compared to the average trading volume of 2.14M shares, EV reached a trading volume of 31360596 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Eaton Vance Corp. [EV]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EV shares is $65.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EV stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Eaton Vance Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 23, 2020. While these analysts kept the previous recommendation, Deutsche Bank raised their target price from $38 to $45. The new note on the price target was released on October 01, 2020, representing the official price target for Eaton Vance Corp. stock. Previously, the target price had yet another raise to $50, while JP Morgan analysts kept a Overweight rating on EV stock.
The Average True Range (ATR) for Eaton Vance Corp. is set at 1.23, with the Price to Sales ratio for EV stock in the period of the last 12 months amounting to 4.79. The Price to Book ratio for the last quarter was 6.11, with the Price to Cash per share for the same quarter was set at 7.70. Price to Free Cash Flow for EV in the course of the last twelve months was 42.35.
Trading performance analysis for EV stock
Eaton Vance Corp. [EV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.19. With this latest performance, EV shares gained by 7.76% in over the last four-week period, additionally plugging by 97.10% over the last 6 months – not to mention a rise of 77.15% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EV stock in for the last two-week period is set at 59.64, with the RSI for the last a single of trading hit 58.06, and the three-weeks RSI is set at 59.86 for Eaton Vance Corp. [EV]. The present Moving Average for the last 50 days of trading for this stock 70.06, while it was recorded at 73.66 for the last single week of trading, and 52.24 for the last 200 days.
Eaton Vance Corp. [EV]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Eaton Vance Corp. [EV] shares currently have an operating margin of +18.52 and a Gross Margin at +78.86. Eaton Vance Corp.’s Net Margin is presently recorded at +8.13.
Return on Total Capital for EV is now 8.03, given the latest momentum, and Return on Invested Capital for the company is 3.80. Return on Equity for this stock inclined to 10.98, with Return on Assets sitting at 2.96. When it comes to the capital structure of this company, Eaton Vance Corp. [EV] has a Total Debt to Total Equity ratio set at 194.07. Additionally, EV Total Debt to Total Capital is recorded at 65.99, with Total Debt to Total Assets ending up at 51.11. Long-Term Debt to Equity for the company is recorded at 189.41, with the Long-Term Debt to Total Capital now at 64.41.
Reflecting on the efficiency of the workforce at the company, Eaton Vance Corp. [EV] managed to generate an average of $69,852 per employee. Receivables Turnover for the company is 6.41 with a Total Asset Turnover recorded at a value of 0.36.
Eaton Vance Corp. [EV]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Eaton Vance Corp. posted 0.8/share EPS, while the average EPS was predicted by analysts to be reported at 0.73/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Eaton Vance Corp. go to 5.56%.
An analysis of insider ownership at Eaton Vance Corp. [EV]
There are presently around $6,136 million, or 75.50% of EV stock, in the hands of institutional investors. The top three institutional holders of EV stocks are: VANGUARD GROUP INC with ownership of 10,174,290, which is approximately 2.242% of the company’s market cap and around 3.60% of the total institutional ownership; BLACKROCK INC., holding 9,706,207 shares of the stock with an approximate value of $709.23 million in EV stocks shares; and STATE STREET CORP, currently with $432.17 million in EV stock with ownership of nearly -30.836% of the company’s market capitalization.
Positions in Eaton Vance Corp. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 188 institutional holders increased their position in Eaton Vance Corp. [NYSE:EV] by around 27,791,978 shares. Additionally, 190 investors decreased positions by around 20,830,872 shares, while 55 investors held positions by with 35,350,740 shares. The mentioned changes placed institutional holdings at 83,973,590 shares, according to the latest SEC report filing. EV stock had 113 new institutional investments in for a total of 17,479,647 shares, while 59 institutional investors sold positions of 5,498,828 shares during the same period.