Eaton Vance Corp (NYSE:EV) Declares Quarterly Dividend of $0.38

Eaton Vance Corp (NYSE:EV) announced a quarterly dividend on Friday, October 16th, Wall Street Journal reports. Stockholders of record on Friday, October 30th will be given a dividend of 0.375 per share by the asset manager on Friday, November 13th. This represents a $1.50 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, October 29th.

Eaton Vance has raised its dividend by 32.6% over the last three years and has increased its dividend every year for the last 25 years. Eaton Vance has a payout ratio of 44.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eaton Vance to earn $3.52 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 42.6%.

NYSE:EV opened at $60.09 on Wednesday. The company has a 50-day moving average price of $47.12 and a 200-day moving average price of $39.86. Eaton Vance has a 12 month low of $23.59 and a 12 month high of $62.45. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 3.28 and a beta of 1.46.

Eaton Vance (NYSE:EV) last posted its earnings results on Wednesday, August 26th. The asset manager reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. Eaton Vance had a net margin of 16.56% and a return on equity of 31.17%. The firm had revenue of $420.80 million during the quarter, compared to analysts’ expectations of $411.05 million. During the same period last year, the company posted $0.90 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts expect that Eaton Vance will post 3.34 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Eaton Vance from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $44.00 to $50.00 in a research report on Thursday, August 27th. Bank of America lifted their price target on shares of Eaton Vance from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft cut shares of Eaton Vance from a “buy” rating to a “hold” rating in a research report on Thursday, October 8th. Citigroup lifted their price target on shares of Eaton Vance from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Finally, Credit Suisse Group lifted their price target on shares of Eaton Vance from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.75.

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.

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Dividend History for Eaton Vance (NYSE:EV)

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