Zacks: Analysts Anticipate Envestnet Inc (NYSE:ENV) to Post $0.45 Earnings Per Share

Equities research analysts expect that Envestnet Inc (NYSE:ENV) will post $0.45 earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Envestnet’s earnings, with estimates ranging from $0.33 to $0.48. Envestnet posted earnings per share of $0.46 in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.2%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 5th.

On average, analysts expect that Envestnet will report full year earnings of $2.06 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.11. For the next year, analysts expect that the firm will post earnings of $2.34 per share, with EPS estimates ranging from $2.25 to $2.47. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Envestnet.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.12. Envestnet had a positive return on equity of 8.94% and a negative net margin of 0.66%. The business had revenue of $246.50 million during the quarter, compared to analysts’ expectations of $242.32 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s quarterly revenue was up 23.4% compared to the same quarter last year.

Several research firms have recently commented on ENV. JPMorgan Chase & Co. cut their price target on Envestnet from $75.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. DA Davidson cut their price target on Envestnet from $76.00 to $68.00 in a research note on Friday, March 13th. Raymond James dropped their price objective on Envestnet from $86.00 to $80.00 and set a “strong-buy” rating on the stock in a report on Friday, May 8th. Royal Bank of Canada reaffirmed a “hold” rating and set a $68.00 price objective on shares of Envestnet in a report on Sunday, May 10th. Finally, Compass Point lowered Envestnet from a “buy” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a report on Friday, February 21st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Envestnet has a consensus rating of “Hold” and an average target price of $74.50.

Shares of Envestnet stock traded up $0.39 during trading hours on Friday, hitting $69.47. 136,066 shares of the company were exchanged, compared to its average volume of 322,546. Envestnet has a 1 year low of $45.53 and a 1 year high of $87.75. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average of $59.13 and a 200-day moving average of $67.63. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -631.55 and a beta of 1.74.

In other Envestnet news, CEO William Crager sold 9,092 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $64.91, for a total value of $590,161.72. Following the sale, the chief executive officer now owns 259,681 shares of the company’s stock, valued at $16,855,893.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 18,486 shares of company stock worth $1,113,996 in the last three months. 2.44% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Clear Harbor Asset Management LLC acquired a new stake in Envestnet in the fourth quarter valued at $1,113,000. Stifel Financial Corp boosted its stake in shares of Envestnet by 2.1% during the third quarter. Stifel Financial Corp now owns 30,577 shares of the business services provider’s stock valued at $1,735,000 after acquiring an additional 615 shares during the last quarter. Eaton Vance Management boosted its stake in shares of Envestnet by 56.1% during the fourth quarter. Eaton Vance Management now owns 450,003 shares of the business services provider’s stock valued at $31,335,000 after acquiring an additional 161,735 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Envestnet by 19.2% during the fourth quarter. Champlain Investment Partners LLC now owns 1,175,165 shares of the business services provider’s stock valued at $81,827,000 after acquiring an additional 188,990 shares during the last quarter. Finally, AlphaCrest Capital Management LLC boosted its stake in shares of Envestnet by 63.4% during the fourth quarter. AlphaCrest Capital Management LLC now owns 16,829 shares of the business services provider’s stock valued at $1,172,000 after acquiring an additional 6,529 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors.

Envestnet Company Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

Featured Article: What is the Shanghai Stock Exchange Composite Index?

Get a free copy of the Zacks research report on Envestnet (ENV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Envestnet (NYSE:ENV)

Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.