Evercore Partners Doubles Profits, Beats Estimates (EVR)

New York, New York-based Evercore Partners Inc EVR announced on Wednesday morning that it beat consensus Wall Street estimates. Evercore Partners Inc reported that its 4th quarter net income doubled to $3.3 million, or 13 cents per share, up from $1.6 million, or 7 cents per share, a year earlier. Excluding special items, the company's earnings came in at 27 cents per share. Evercore Partners Inc reported revenue of $102.19 million, down from $110.0 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 24 cents per share, on revenue of $99.19 million. Evercore Partners Inc (EVR) closed the previous trading day at $31.81 per share. Analysts covering the company's stock give it a consensus price target of $35.21 per share. Evercore Partners' Investment Banking business advises its clients on mergers, acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions and also provides institutional investors with high quality research, sales and trading execution that is free of the conflicts created by proprietary activities. Evercore's investment management business comprises wealth management, institutional asset management and private equity investing. Read more from Benzinga's Company news.