Equities analysts predict that E*TRADE Financial Corporation (NASDAQ:ETFC) will announce earnings per share (EPS) of $0.50 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for E*TRADE Financial Corporation’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.51. E*TRADE Financial Corporation reported earnings per share of $0.51 in the same quarter last year, which would indicate a negative year over year growth rate of 2%. The business is expected to report its next earnings report on Thursday, October 19th.

According to Zacks, analysts expect that E*TRADE Financial Corporation will report full-year earnings of $2.25 per share for the current year, with EPS estimates ranging from $2.21 to $2.28. For the next fiscal year, analysts anticipate that the company will report earnings of $2.45 per share, with EPS estimates ranging from $2.32 to $2.55. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for E*TRADE Financial Corporation.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $577 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%. The business’s revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS.

ETFC has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 target price (up from $40.00) on shares of E*TRADE Financial Corporation in a research note on Tuesday, July 25th. Deutsche Bank AG lifted their target price on shares of E*TRADE Financial Corporation from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Bank of America Corporation lifted their target price on shares of E*TRADE Financial Corporation from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Robert W. Baird reaffirmed an “outperform” rating and set a $49.00 target price (up from $43.00) on shares of E*TRADE Financial Corporation in a research note on Saturday, July 22nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $43.00 target price (up from $39.00) on shares of E*TRADE Financial Corporation in a research note on Saturday, July 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $40.94.

In related news, CEO Karl A. Roessner sold 14,898 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $39.41, for a total transaction of $587,130.18. Following the sale, the chief executive officer now directly owns 232,702 shares of the company’s stock, valued at approximately $9,170,785.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James P. Healy bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were acquired at an average cost of $41.97 per share, for a total transaction of $209,850.00. Following the completion of the purchase, the director now owns 40,792 shares in the company, valued at $1,712,040.24. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 30,571 shares of company stock worth $1,216,708. 0.17% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its stake in E*TRADE Financial Corporation by 80.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock worth $123,000 after buying an additional 1,448 shares during the period. Exane Derivatives acquired a new position in E*TRADE Financial Corporation during the 2nd quarter worth approximately $130,000. Quadrant Capital Group LLC grew its holdings in E*TRADE Financial Corporation by 21.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 614 shares in the last quarter. Krilogy Financial LLC grew its holdings in E*TRADE Financial Corporation by 7.5% during the 2nd quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 260 shares in the last quarter. Finally, Financial Counselors Inc. acquired a new position in E*TRADE Financial Corporation during the 2nd quarter worth approximately $203,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of E*TRADE Financial Corporation (NASDAQ ETFC) opened at 39.49 on Friday. The stock has a market capitalization of $10.88 billion, a PE ratio of 18.45 and a beta of 1.46. The stock’s 50 day moving average is $40.70 and its 200 day moving average is $36.99. E*TRADE Financial Corporation has a 12 month low of $25.96 and a 12 month high of $42.19.

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 buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: “Brokerages Anticipate E*TRADE Financial Corporation (ETFC) Will Announce Earnings of $0.50 Per Share” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/09/08/brokerages-anticipate-etrade-financial-corporation-etfc-will-announce-earnings-of-0-50-per-share.html.

About E*TRADE Financial Corporation

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.

Get a free copy of the Zacks research report on E*TRADE Financial Corporation (ETFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for E*TRADE Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E*TRADE Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.