Brokerages Expect Envestnet Inc (NYSE:ENV) Will Announce Earnings of $0.58 Per Share

Wall Street analysts predict that Envestnet Inc (NYSE:ENV) will report earnings of $0.58 per share for the current quarter, according to Zacks. Five analysts have made estimates for Envestnet’s earnings. The highest EPS estimate is $0.59 and the lowest is $0.57. Envestnet posted earnings per share of $0.53 in the same quarter last year, which indicates a positive year-over-year growth rate of 9.4%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, November 6th.

On average, analysts expect that Envestnet will report full-year earnings of $2.12 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.14. For the next fiscal year, analysts expect that the company will report earnings of $2.52 per share, with EPS estimates ranging from $2.41 to $2.62. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Envestnet.

Envestnet (NYSE:ENV) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.02). Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. The business had revenue of $227.90 million during the quarter, compared to analyst estimates of $225.34 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Envestnet from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. DA Davidson upgraded shares of Envestnet from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Tuesday, October 1st. Raymond James increased their price objective on shares of Envestnet from $82.00 to $83.00 and gave the company a “strong-buy” rating in a report on Thursday, July 11th. Finally, ValuEngine lowered shares of Envestnet from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $73.78.

In other Envestnet news, COO Joshua Mayer sold 6,881 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $56.15, for a total value of $386,368.15. Following the completion of the sale, the chief operating officer now owns 20,190 shares of the company’s stock, valued at $1,133,668.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Judson Bergman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $70.85, for a total transaction of $1,062,750.00. Following the completion of the sale, the chief executive officer now directly owns 838,323 shares of the company’s stock, valued at approximately $59,395,184.55. The disclosure for this sale can be found here. Insiders sold 123,200 shares of company stock valued at $7,290,093 in the last ninety days. Insiders own 4.97% of the company’s stock.

A number of large investors have recently modified their holdings of ENV. TRUE Private Wealth Advisors bought a new stake in Envestnet in the second quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale bought a new stake in Envestnet in the second quarter valued at approximately $34,000. Hudock Capital Group LLC bought a new stake in Envestnet in the second quarter valued at approximately $46,000. Marshall Wace LLP bought a new stake in Envestnet in the first quarter valued at approximately $50,000. Finally, SRS Capital Advisors Inc. bought a new stake in Envestnet in the second quarter valued at approximately $83,000. 89.43% of the stock is owned by hedge funds and other institutional investors.

NYSE ENV traded up $0.54 during trading hours on Tuesday, hitting $61.19. The company’s stock had a trading volume of 185,633 shares, compared to its average volume of 444,657. The stock has a fifty day moving average of $58.71 and a 200 day moving average of $64.99. Envestnet has a twelve month low of $46.57 and a twelve month high of $73.94. The firm has a market capitalization of $3.16 billion, a P/E ratio of 48.95, a PEG ratio of 2.70 and a beta of 1.74. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.61.

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.

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