Q4 2019 Earnings Forecast for E*TRADE Financial Corp (ETFC) Issued By Jefferies Financial Group

E*TRADE Financial Corp (NASDAQ:ETFC) – Stock analysts at Jefferies Financial Group dropped their Q4 2019 earnings per share (EPS) estimates for E*TRADE Financial in a research note issued on Tuesday, January 8th. Jefferies Financial Group analyst D. Fannon now anticipates that the financial services provider will post earnings per share of $1.11 for the quarter, down from their prior forecast of $1.14. Jefferies Financial Group currently has a “Buy” rating and a $61.00 price target on the stock. Jefferies Financial Group also issued estimates for E*TRADE Financial’s FY2020 earnings at $4.42 EPS.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.17. The business had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $710.62 million. E*TRADE Financial had a return on equity of 15.45% and a net margin of 32.83%. The business’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS.

ETFC has been the topic of a number of other reports. Bank of America lowered their target price on E*TRADE Financial from $67.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, September 26th. Raymond James lowered their target price on E*TRADE Financial from $70.00 to $64.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 19th. BidaskClub upgraded E*TRADE Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Deutsche Bank lowered their target price on E*TRADE Financial from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of E*TRADE Financial in a research note on Thursday, November 15th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $62.24.

NASDAQ ETFC opened at $47.88 on Thursday. The firm has a market cap of $12.07 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 0.67 and a beta of 1.19. E*TRADE Financial has a one year low of $40.41 and a one year high of $66.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

A number of institutional investors and hedge funds have recently made changes to their positions in ETFC. FMR LLC grew its holdings in E*TRADE Financial by 10.5% during the 2nd quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock valued at $936,560,000 after buying an additional 1,452,296 shares in the last quarter. Primecap Management Co. CA grew its holdings in E*TRADE Financial by 1.9% during the 3rd quarter. Primecap Management Co. CA now owns 13,115,825 shares of the financial services provider’s stock valued at $687,138,000 after buying an additional 238,300 shares in the last quarter. First Trust Advisors LP grew its holdings in E*TRADE Financial by 23.3% during the 3rd quarter. First Trust Advisors LP now owns 4,659,032 shares of the financial services provider’s stock valued at $244,087,000 after buying an additional 879,210 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in E*TRADE Financial by 2.3% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,131,100 shares of the financial services provider’s stock valued at $164,038,000 after buying an additional 71,481 shares in the last quarter. Finally, Putnam Investments LLC grew its holdings in E*TRADE Financial by 15.9% during the 2nd quarter. Putnam Investments LLC now owns 2,849,752 shares of the financial services provider’s stock valued at $174,291,000 after buying an additional 391,772 shares in the last quarter. 93.96% of the stock is owned by institutional investors.

In other news, CFO Michael A. Pizzi acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was bought at an average price of $51.67 per share, with a total value of $516,700.00. Following the acquisition, the chief financial officer now owns 88,171 shares in the company, valued at approximately $4,555,795.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brent Simonich acquired 1,943 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was purchased at an average cost of $51.50 per share, with a total value of $100,064.50. Following the acquisition, the insider now owns 26,330 shares in the company, valued at approximately $1,355,995. The disclosure for this purchase can be found here. In the last three months, insiders purchased 37,668 shares of company stock valued at $1,912,154. 0.12% of the stock is currently owned by insiders.

E*TRADE Financial declared that its board has authorized a share buyback plan on Thursday, October 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

E*TRADE Financial Company Profile

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.

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