E*TRADE Financial Corporation Expected to Post Q3 2017 Earnings of $0.51 Per Share (ETFC)

E*TRADE Financial Corporation (NASDAQ:ETFC) – Equities researchers at Jefferies Group raised their Q3 2017 EPS estimates for E*TRADE Financial Corporation in a research note issued on Thursday. Jefferies Group analyst D. Fannon now forecasts that the financial services provider will post earnings of $0.51 per share for the quarter, up from their prior estimate of $0.50. Jefferies Group currently has a “Hold” rating and a $43.00 target price on the stock. Jefferies Group also issued estimates for E*TRADE Financial Corporation’s FY2017 earnings at $2.27 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.67 EPS, FY2018 earnings at $2.48 EPS and FY2019 earnings at $2.82 EPS.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The company had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $553.31 million. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. E*TRADE Financial Corporation’s revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 EPS.

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A number of other equities analysts also recently issued reports on the stock. Barclays PLC started coverage on shares of E*TRADE Financial Corporation in a report on Friday, September 8th. They issued an “overweight” rating and a $45.00 price objective on the stock. Deutsche Bank AG raised their price objective on shares of E*TRADE Financial Corporation from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Morgan Stanley reissued an “equal weight” rating and issued a $40.00 price objective (up previously from $38.00) on shares of E*TRADE Financial Corporation in a report on Monday, July 10th. SunTrust Banks, Inc. reissued a “buy” rating on shares of E*TRADE Financial Corporation in a report on Monday, July 24th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price objective on shares of E*TRADE Financial Corporation in a report on Friday, July 21st. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $43.27.

Shares of E*TRADE Financial Corporation (NASDAQ ETFC) opened at 43.95 on Friday. The company’s 50 day moving average is $41.53 and its 200-day moving average is $37.96. E*TRADE Financial Corporation has a 52 week low of $27.34 and a 52 week high of $45.70. The stock has a market capitalization of $12.10 billion, a PE ratio of 20.54 and a beta of 1.47.

E*TRADE Financial Corporation announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In related news, Director James P. Healy bought 5,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were purchased at an average price of $41.97 per share, with a total value of $209,850.00. Following the completion of the acquisition, the director now owns 40,792 shares of the company’s stock, valued at $1,712,040.24. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brent Simonich sold 5,696 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $41.50, for a total transaction of $236,384.00. Following the completion of the transaction, the insider now directly owns 31,557 shares in the company, valued at approximately $1,309,615.50. The disclosure for this sale can be found here. Insiders sold 72,623 shares of company stock worth $2,915,711 in the last three months. Insiders own 0.17% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Aviva PLC lifted its holdings in shares of E*TRADE Financial Corporation by 6.1% in the second quarter. Aviva PLC now owns 179,995 shares of the financial services provider’s stock worth $6,849,000 after buying an additional 10,334 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of E*TRADE Financial Corporation by 71.8% in the first quarter. Bank of Nova Scotia now owns 614,202 shares of the financial services provider’s stock worth $21,430,000 after buying an additional 256,788 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of E*TRADE Financial Corporation in the second quarter worth $3,424,000. Burney Co. lifted its holdings in shares of E*TRADE Financial Corporation by 3.7% in the second quarter. Burney Co. now owns 71,205 shares of the financial services provider’s stock worth $2,683,000 after buying an additional 2,563 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of E*TRADE Financial Corporation by 19.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,032 shares of the financial services provider’s stock worth $2,587,000 after buying an additional 11,170 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

E*TRADE Financial Corporation Company Profile

E*Trade Financial Corporation is a financial services company. The Company provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors.

Earnings History and Estimates for E*TRADE Financial Corporation (NASDAQ:ETFC)

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