Jefferies Maintains a 'Hold' on Eaton Vance (EV); Q3 Preview: Retail Outflows Accelerated
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Price: $21.85 --0%
Rating Summary:
2 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies maintains a 'Hold' on Eaton Vance (NYSE: EV) price target of $26.00.
Analyst, Daniel T. Fannon, said, "Retail equity outflows accelerated throughout the quarter. The redemptions continue to be dominated by the Large Cap Value product, with some positive offset from certain affiliates (Atlanta and Parametric) and fixed income products. However, based on current performance and product positioning we anticipate EV's organic growth challenges will persist in the short term." (Raises Q3 EPS estimate from $0.49 to $0.50)
FY12 EPS estimate raised from $1.87 to $1.93, but FY13 lowered from $2.19 to $2.15.
For an analyst ratings summary and ratings history on Eaton Vance click here. For more ratings news on Eaton Vance click here.
Shares of Eaton Vance closed at $27.14 yesterday.
Analyst, Daniel T. Fannon, said, "Retail equity outflows accelerated throughout the quarter. The redemptions continue to be dominated by the Large Cap Value product, with some positive offset from certain affiliates (Atlanta and Parametric) and fixed income products. However, based on current performance and product positioning we anticipate EV's organic growth challenges will persist in the short term." (Raises Q3 EPS estimate from $0.49 to $0.50)
FY12 EPS estimate raised from $1.87 to $1.93, but FY13 lowered from $2.19 to $2.15.
For an analyst ratings summary and ratings history on Eaton Vance click here. For more ratings news on Eaton Vance click here.
Shares of Eaton Vance closed at $27.14 yesterday.
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