Citi Changes EPS Estimates for Eaton Vance

Citi has published a research report on Eaton Vance EV lowering estimates on earnings per share. In the report, Eaton Vance wrote, "We estimate net LT inflows of $150M for F3Q11, down sharply vs. prior quarters and essentially nil organic growth (Figure 2). In turn, we forecast equities MF attrition accelerated Q/Q to $1.5B, or ~9% annualized loss rate while floating rate MF volumes likely halved vs. F2Q11 to ~$1B, or healthy but still decelerating ~20% annualized growth while FI MF flows appear to have also flattened in F3Q11." Citi rated Eaton Vance a Medium Risk HOLD with a price target of $23.50. Eaton Vance closed Monday at $23.71.