Investment management company, Eaton Vance Corp(EV) reported an increase in earnings for the first quarter, but missed analysts estimates on Wednesday.
The Boston, MA based company reported first quarter earnings of $49.81 million, or 38 cents per share, up 5% from $47.27 million, or 40 cents per share last year. Excluding special items, earnings were 50 cents per share, up from 47 cents per share last year. Analysts expected to see EPS of 52 cents per share.
Revenue for the quarter rose to $318.52 million, from $295.61 million last year. Analysts expected to see $317.36 million in revenue.
Eaton Vance shares were down -$1.14, or -2.79% during Wednesday morning trading. The stock has increased 41% in the past year.
The Bottom Line
Shares of Eaton Vance Corp(EV) have a 1.96% yield, based on Tuesday’s closing price of $40.86.
Eaton Vance Corp(EV) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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