Brokerages Anticipate Envestnet, Inc. (NYSE:ENV) Will Post Earnings of $0.45 Per Share

Equities research analysts predict that Envestnet, Inc. (NYSE:ENVGet Rating) will announce earnings per share of $0.45 for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Envestnet’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.43. Envestnet reported earnings of $0.64 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 29.7%. The company is expected to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Envestnet will report full year earnings of $2.31 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.37. For the next year, analysts expect that the company will report earnings of $2.91 per share, with EPS estimates ranging from $2.66 to $3.25. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Envestnet.

Envestnet (NYSE:ENVGet Rating) last announced its earnings results on Thursday, February 24th. The business services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business had revenue of $319.60 million during the quarter, compared to the consensus estimate of $311.62 million. Envestnet had a return on equity of 10.86% and a net margin of 1.12%. Envestnet’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share.

A number of research firms have commented on ENV. Truist Financial cut their price target on shares of Envestnet from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, March 7th. StockNews.com assumed coverage on Envestnet in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James upped their price objective on Envestnet from $101.00 to $111.00 and gave the stock a “strong-buy” rating in a report on Friday, April 8th. DA Davidson raised Envestnet from a “neutral” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Friday, February 25th. Finally, JMP Securities upped their target price on Envestnet from $97.00 to $101.00 and gave the stock a “market outperform” rating in a research note on Monday, January 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.71.

Shares of ENV opened at $82.99 on Thursday. Envestnet has a 1-year low of $64.70 and a 1-year high of $85.99. The company has a market capitalization of $4.58 billion, a P/E ratio of 345.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.96 and a quick ratio of 1.96. The firm’s 50 day simple moving average is $73.97 and its 200 day simple moving average is $77.12.

In other Envestnet news, SVP Barry D. Cooper sold 678 shares of the business’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $73.73, for a total value of $49,988.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Matthew Majoros sold 400 shares of the stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $75.33, for a total transaction of $30,132.00. The disclosure for this sale can be found here. 1.41% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in ENV. CWM LLC purchased a new stake in shares of Envestnet in the 4th quarter worth about $25,000. First Horizon Advisors Inc. boosted its position in Envestnet by 2,168.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 499 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 477 shares in the last quarter. Covestor Ltd purchased a new position in shares of Envestnet during the 4th quarter worth approximately $60,000. Marshall Wace LLP bought a new position in shares of Envestnet in the 1st quarter worth approximately $50,000. Finally, Huntington National Bank lifted its stake in shares of Envestnet by 9.0% in the 3rd quarter. Huntington National Bank now owns 1,932 shares of the business services provider’s stock valued at $155,000 after purchasing an additional 159 shares during the period.

Envestnet Company Profile (Get Rating)

Envestnet, Inc engages in the provision of intelligent systems for wealth management and financial wellness. It operates through the following segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment provides unified wealth management software and services to empower financial advisors and institutions.

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