$0.45 Earnings Per Share Expected for Envestnet Inc (ENV) This Quarter

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Brokerages expect that Envestnet Inc (NYSE:ENV) will report $0.45 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Envestnet’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.50. Envestnet reported earnings per share of $0.41 in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.8%. The firm is expected to announce its next earnings report on Tuesday, August 6th.

On average, analysts expect that Envestnet will report full-year earnings of $2.13 per share for the current fiscal year, with EPS estimates ranging from $2.09 to $2.17. For the next year, analysts forecast that the firm will report earnings of $2.62 per share, with EPS estimates ranging from $2.52 to $2.68. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Envestnet.

Envestnet (NYSE:ENV) last released its earnings results on Wednesday, May 8th. The business services provider reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.04). The company had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $201.37 million. Envestnet had a negative net margin of 2.52% and a positive return on equity of 10.28%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share.

ENV has been the subject of several research analyst reports. TheStreet cut shares of Envestnet from a “b” rating to a “c+” rating in a research report on Thursday, May 9th. Zacks Investment Research cut shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. William Blair reiterated an “outperform” rating on shares of Envestnet in a research report on Thursday, March 14th. Royal Bank of Canada boosted their target price on shares of Envestnet to $71.00 and gave the company a “sector perform” rating in a research note on Thursday, May 9th. Finally, Raymond James boosted their target price on shares of Envestnet from $77.00 to $82.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 9th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $73.20.

Shares of NYSE ENV traded up $0.90 during midday trading on Thursday, hitting $68.22. The company’s stock had a trading volume of 9,127 shares, compared to its average volume of 286,599. Envestnet has a one year low of $46.57 and a one year high of $72.67. The company has a quick ratio of 1.11, a current ratio of 1.03 and a debt-to-equity ratio of 0.60. The firm has a market cap of $3.25 billion, a P/E ratio of 54.57, a price-to-earnings-growth ratio of 2.84 and a beta of 1.90.

In related news, insider Stuart Depina sold 18,168 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $65.13, for a total value of $1,183,281.84. Following the completion of the sale, the insider now directly owns 50,968 shares of the company’s stock, valued at $3,319,545.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Joshua Mayer sold 1,162 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $61.15, for a total transaction of $71,056.30. Following the completion of the sale, the chief operating officer now directly owns 36,222 shares of the company’s stock, valued at $2,214,975.30. The disclosure for this sale can be found here. Insiders have sold 69,335 shares of company stock valued at $4,559,261 over the last three months. Insiders own 4.97% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in shares of Envestnet by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 671,388 shares of the business services provider’s stock valued at $33,025,000 after buying an additional 11,870 shares during the period. Brinker Capital Inc. boosted its stake in Envestnet by 21.9% in the 1st quarter. Brinker Capital Inc. now owns 13,540 shares of the business services provider’s stock worth $885,000 after purchasing an additional 2,428 shares during the period. Strs Ohio boosted its stake in Envestnet by 15.8% in the 4th quarter. Strs Ohio now owns 2,200 shares of the business services provider’s stock worth $108,000 after purchasing an additional 300 shares during the period. Vanguard Group Inc. boosted its stake in Envestnet by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,942,847 shares of the business services provider’s stock worth $240,316,000 after purchasing an additional 112,801 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Envestnet by 11.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 355,000 shares of the business services provider’s stock worth $17,462,000 after purchasing an additional 37,500 shares during the period. 92.35% of the stock is owned by institutional investors.

About Envestnet

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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