E*TRADE Financial Corporation (NASDAQ:ETFC) – Equities research analysts at Jefferies Group lifted their Q1 2018 earnings per share (EPS) estimates for shares of E*TRADE Financial Corporation in a report issued on Thursday. Jefferies Group analyst D. Fannon now forecasts that the financial services provider will post earnings per share of $0.57 for the quarter, up from their prior forecast of $0.56. 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 Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.69 EPS, FY2018 earnings at $2.53 EPS and FY2019 earnings at $2.87 EPS.

E*TRADE Financial Corporation (NASDAQ:ETFC) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.04. The company had revenue of $599.00 million for the quarter, compared to the consensus estimate of $598.96 million. E*TRADE Financial Corporation had a return on equity of 9.41% and a net margin of 27.35%. E*TRADE Financial Corporation’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share.

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Several other equities research analysts also recently weighed in on ETFC. Barclays PLC increased their price target on E*TRADE Financial Corporation from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company increased their price target on E*TRADE Financial Corporation from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $50.00 price target on shares of E*TRADE Financial Corporation in a research report on Friday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $43.00 price target on shares of E*TRADE Financial Corporation in a research report on Friday, July 14th. Finally, Rosenblatt Securities assumed coverage on E*TRADE Financial Corporation in a research report on Thursday, July 13th. They set a “buy” rating and a $43.00 price target on the stock. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $45.73.

E*TRADE Financial Corporation (NASDAQ ETFC) opened at 43.20 on Monday. The company’s 50-day moving average price is $42.48 and its 200 day moving average price is $38.66. The stock has a market capitalization of $11.90 billion, a P/E ratio of 20.19 and a beta of 1.47. E*TRADE Financial Corporation has a 52-week low of $27.33 and a 52-week high of $45.70.

Several hedge funds have recently added to or reduced their stakes in ETFC. Principal Financial Group Inc. raised its position in shares of E*TRADE Financial Corporation by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 430,925 shares of the financial services provider’s stock valued at $15,035,000 after buying an additional 15,917 shares during the period. Wellington Management Group LLP purchased a new stake in shares of E*TRADE Financial Corporation during the 1st quarter valued at approximately $3,251,000. Teachers Advisors LLC raised its position in shares of E*TRADE Financial Corporation by 23.0% during the 1st quarter. Teachers Advisors LLC now owns 1,524,018 shares of the financial services provider’s stock valued at $53,173,000 after buying an additional 284,578 shares during the period. Global X Management Co. LLC raised its position in shares of E*TRADE Financial Corporation by 46.9% during the 1st quarter. Global X Management Co. LLC now owns 6,803 shares of the financial services provider’s stock valued at $237,000 after buying an additional 2,172 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in shares of E*TRADE Financial Corporation during the 1st quarter valued at approximately $302,000. 92.54% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Brent Simonich sold 5,696 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total transaction of $236,384.00. Following the sale, the insider now owns 31,557 shares of the company’s stock, valued at approximately $1,309,615.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James P. Healy purchased 5,000 shares of E*TRADE Financial Corporation stock in a transaction dated Tuesday, July 25th. The shares were purchased at an average cost of $41.97 per share, for a total transaction of $209,850.00. Following the transaction, the director now owns 40,792 shares in the company, valued at approximately $1,712,040.24. The disclosure for this purchase can be found here. Insiders sold a total of 72,623 shares of company stock worth $2,915,711 over the last three months. Corporate insiders own 0.17% of the company’s stock.

E*TRADE Financial Corporation announced that its board has approved a stock buyback plan on Thursday, July 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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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