Evercore Partners (EVR) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $1.04 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.92. The company posted revenue of $348.27 million in the period, compared to analysts expectations of $325.06 million. The company’s revenue was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.
Evercore Partners opened for trading at $48.25 and hit $51.18 on the upside on Thursday, eventually ending the session at $50.93, with a gain of 1.29% or 0.65 points. The heightened volatility saw the trading volume jump to 7,89,036 shares. Company has a market cap of $2,021 M.
In a different news, on May 4, 2016, Paul Pensa (Contr., Principal Acct.Officer) sold 1,672 shares at $50.85 per share price. According to the SEC, on Mar 1, 2016, Andrew Sibbald (CEO EVR Partners International) sold 19,576 shares at $47.01 per share price.
Evercore Partners Inc. (Evercore) is an independent investment banking advisory firm. The Company operates through two business segments: Investment Banking and Investment Management. The Company’s Investment Banking segment includes the Company’s Advisory services through which Evercore provides advice to clients on mergers acquisitions divestitures and other strategic corporate transactions with a particular focus on advising multinational corporations and private equity firms on different transactions. The Company’s Investment Management segment focuses on Institutional Asset Management through which Evercore manages financial assets for institutional investors and provide independent fiduciary services to corporate employee benefit plans; Wealth Management through which the Company provides wealth management services for high-net-worth individuals and Private Equity through which Evercore manages private equity funds.