Wall Street brokerages expect that E*TRADE Financial Corp (NASDAQ:ETFC) will report earnings of $1.10 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for E*TRADE Financial’s earnings. The lowest EPS estimate is $1.05 and the highest is $1.13. E*TRADE Financial posted earnings of $0.95 per share during the same quarter last year, which suggests a positive year over year growth rate of 15.8%. The company is expected to report its next earnings report on Thursday, July 18th.
On average, analysts expect that E*TRADE Financial will report full-year earnings of $4.34 per share for the current fiscal year, with EPS estimates ranging from $4.19 to $4.46. For the next financial year, analysts anticipate that the company will report earnings of $4.63 per share, with EPS estimates ranging from $4.47 to $4.73. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for E*TRADE Financial.
E*TRADE Financial (NASDAQ:ETFC) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.16. E*TRADE Financial had a net margin of 37.50% and a return on equity of 18.06%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $738.04 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis.
Several brokerages recently commented on ETFC. BidaskClub cut shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Morgan Stanley upped their price target on shares of E*TRADE Financial from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Thursday. Finally, Barclays upped their price target on shares of E*TRADE Financial to $55.00 and gave the stock an “overweight” rating in a research report on Friday, January 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. E*TRADE Financial presently has an average rating of “Buy” and a consensus price target of $59.83.
In other news, EVP Michael John Curcio sold 21,928 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $47.36, for a total value of $1,038,510.08. Following the transaction, the executive vice president now directly owns 213,896 shares of the company’s stock, valued at $10,130,114.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Karl A. Roessner sold 45,724 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $47.35, for a total transaction of $2,165,031.40. Following the completion of the transaction, the chief executive officer now directly owns 175,092 shares in the company, valued at $8,290,606.20. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Liberty Wealth Management LLC bought a new position in shares of E*TRADE Financial in the fourth quarter valued at about $27,000. Arrow Financial Corp acquired a new position in shares of E*TRADE Financial in the first quarter valued at about $39,000. Bronfman E.L. Rothschild L.P. grew its stake in shares of E*TRADE Financial by 32.0% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 915 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 222 shares in the last quarter. IFP Advisors Inc grew its stake in shares of E*TRADE Financial by 93.0% in the fourth quarter. IFP Advisors Inc now owns 965 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 465 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its stake in shares of E*TRADE Financial by 100.0% in the fourth quarter. FNY Investment Advisers LLC now owns 1,000 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 500 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.
Shares of ETFC opened at $49.65 on Friday. E*TRADE Financial has a 12 month low of $40.41 and a 12 month high of $66.46. The firm has a market cap of $12.15 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.28.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.13%. The ex-dividend date is Friday, May 10th. E*TRADE Financial’s dividend payout ratio (DPR) is currently 14.40%.
About E*TRADE Financial
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.
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