E-Trade Financial Corp. (ETFC) Set to Announce Quarterly Earnings on Thursday
E-Trade Financial Corp. (NASDAQ:ETFC) is scheduled to be releasing its Q316 earnings data on Thursday, October 20th. Analysts expect E-Trade Financial Corp. to post earnings of $0.40 per share and revenue of $645.00 million for the quarter.
E-Trade Financial Corp. (NASDAQ:ETFC) opened at 28.42 on Wednesday. The company has a market capitalization of $7.87 billion, a P/E ratio of 37.25 and a beta of 1.70. The firm has a 50-day moving average of $27.98 and a 200 day moving average of $25.89. E-Trade Financial Corp. has a 52-week low of $19.61 and a 52-week high of $30.98.
Several research firms have recently commented on ETFC. Deutsche Bank AG restated a “buy” rating on shares of E-Trade Financial Corp. in a report on Sunday, July 10th. Buckingham Research began coverage on shares of E-Trade Financial Corp. in a report on Wednesday, July 13th. They issued a “buy” rating and a $29.00 price target for the company. Nomura restated a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of E-Trade Financial Corp. in a report on Monday, July 25th. Jefferies Group reduced their price target on shares of E-Trade Financial Corp. from $27.00 to $25.50 and set a “hold” rating for the company in a report on Thursday, July 7th. Finally, Goldman Sachs Group Inc. lowered shares of E-Trade Financial Corp. from a “buy” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Friday, July 22nd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $31.12.
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Hedge funds have recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec increased its stake in E-Trade Financial Corp. by 8.5% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 185,495 shares of the company’s stock valued at $4,357,000 after buying an additional 14,600 shares during the period. Highbridge Capital Management LLC acquired a new stake in E-Trade Financial Corp. during the second quarter valued at approximately $1,166,000. AQR Capital Management LLC increased its stake in E-Trade Financial Corp. by 1,391.9% in the second quarter. AQR Capital Management LLC now owns 1,301,786 shares of the company’s stock valued at $30,579,000 after buying an additional 1,214,529 shares during the period. Paloma Partners Management Co increased its stake in E-Trade Financial Corp. by 225.3% in the second quarter. Paloma Partners Management Co now owns 82,653 shares of the company’s stock valued at $1,941,000 after buying an additional 57,244 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in E-Trade Financial Corp. during the second quarter valued at approximately $235,000. 91.50% of the stock is currently owned by institutional investors and hedge funds.
E-Trade Financial Corp. Company Profile
E*Trade Financial Corporation is a financial services company. The Company provides 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.
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