E*TRADE Financial Corporation (ETFC) Scheduled to Post Earnings on Thursday
E*TRADE Financial Corporation (NASDAQ:ETFC) is scheduled to post its quarterly earnings results after the market closes on Thursday, October 19th. Analysts expect E*TRADE Financial Corporation to post earnings of $0.48 per share for the quarter.
E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $577.00 million for the quarter, compared to analyst estimates of $553.31 million. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. E*TRADE Financial Corporation’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. On average, analysts expect E*TRADE Financial Corporation to post $2.23 EPS for the current fiscal year and $2.53 EPS for the next fiscal year.
Shares of E*TRADE Financial Corporation (NASDAQ ETFC) opened at 44.24 on Thursday. E*TRADE Financial Corporation has a 12-month low of $27.33 and a 12-month high of $45.70. The company’s 50-day moving average price is $41.89 and its 200 day moving average price is $38.22. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 20.67 and a beta of 1.47.
E*TRADE Financial Corporation declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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In other news, Director James P. Healy purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were acquired at an average price of $41.97 per share, with a total value of $209,850.00. Following the purchase, the director now directly 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 accessible through this hyperlink. Also, insider Brent Simonich sold 5,696 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $41.50, for a total value of $236,384.00. Following the sale, 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 have sold a total of 72,623 shares of company stock worth $2,915,711 in the last quarter. 0.17% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on ETFC shares. Deutsche Bank AG dropped their price target on E*TRADE Financial Corporation from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Jefferies Group LLC restated a “hold” rating and issued a $43.00 price target (up previously from $39.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.00 price target on shares of E*TRADE Financial Corporation in a research report on Friday, July 21st. SunTrust Banks, Inc. boosted their price target on E*TRADE Financial Corporation from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, June 16th. Finally, Zacks Investment Research cut E*TRADE Financial Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $44.25.
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.
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