Evercore Inc. (NYSE: EVR) stock jumped 1.85% on Thursday to $143.37 against a previous-day closing price of $140.77. With 0.53 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.35 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $144.26 whereas the lowest price it dropped to was $141.50. The 52-week range on EVR shows that it touched its highest point at $143.37 and its lowest point at $78.67 during that stretch. It currently has a 1-year price target of $148.60. With its current market cap of 5.34 billion, EVR has annualized dividend of $3.04 while the current yield stands at 2.12%. Beta for the stock currently stands at 1.52.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EVR was up-trending over the past week, with a rise of 4.24%, but this was up by 7.13% over a month. Three-month performance surged to 15.56% while six-month performance rose 25.16%. The stock gained 53.53% in the past year, while it has gained 31.44% so far this year. A look at the trailing 12-month EPS for EVR yields 8.48 with Next year EPS estimates of 11.71. For the next quarter, that number is 1.30. This implies an EPS growth rate of -32.00% for this year and 63.35% for next year. EPS is expected to decline by -4.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 14.10%.
Float and Shares Shorts:
At present, 38.21 million EVR shares are outstanding with a float of 34.75 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.35 million, which was 3.57% higher than short shares on Jul 30, 2023. In addition to Mr. John S. Weinberg as the firm’s Chairman & CEO, Mr. Roger Charles Altman serves as its Founder & Sr. Chairman.
Institutional Ownership:
Through their ownership of 87.57% of EVR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.11% of EVR, in contrast to 36.77% held by mutual funds. Shares owned by individuals account for 15.93%. As the largest shareholder in EVR with 10.66% of the stake, The Vanguard Group, Inc. holds 4,089,045 shares worth 4,089,045. A second-largest stockholder of EVR, BlackRock Fund Advisors, holds 2,934,210 shares, controlling over 7.65% of the firm’s shares. Boston Partners Global Investors, is the third largest shareholder in EVR, holding 1,488,111 shares or 3.88% stake. With a 2.96% stake in EVR, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 1,133,164 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.81% of EVR stock, is the second-largest Mutual Fund holder. It holds 1,078,613 shares valued at 145.68 million. Vanguard Small Cap Index Fund holds 2.33% of the stake in EVR, owning 895,054 shares worth 120.89 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EVR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EVR analysts setting a high price target of $155.00 and a low target of $140.00, the average target price over the next 12 months is $148.60. Based on these targets, EVR could surge 8.11% to reach the target high and fall by -2.35% to reach the target low. Reaching the average price target will result in a growth of 3.65% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded EVR stock several times over the past three months with 9 Buys and 2 Sells. In these transactions, 11,757 shares were bought while 82,749 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 98,018 while 169,733 shares were sold.
