Wall Street brokerages expect E*TRADE Financial Corp (NASDAQ:ETFC) to post sales of $744.34 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for E*TRADE Financial’s earnings, with the lowest sales estimate coming in at $742.00 million and the highest estimate coming in at $748.02 million. E*TRADE Financial reported sales of $637.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.9%. The business is scheduled to announce its next quarterly earnings report on Thursday, January 24th.
According to Zacks, analysts expect that E*TRADE Financial will report full year sales of $2.88 billion for the current year, with estimates ranging from $2.87 billion to $2.89 billion. For the next financial year, analysts anticipate that the company will report sales of $3.09 billion, with estimates ranging from $3.02 billion to $3.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow E*TRADE Financial.
E*TRADE Financial (NASDAQ:ETFC) last posted its earnings results on Thursday, October 18th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.83 by $0.17. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. The business had revenue of $720.00 million for the quarter, compared to the consensus estimate of $710.62 million. During the same period last year, the company earned $0.49 EPS. The firm’s revenue was up 20.2% compared to the same quarter last year.
Several research firms recently commented on ETFC. Morgan Stanley cut their target price on shares of E*TRADE Financial from $78.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Monday, July 16th. Deutsche Bank cut their target price on shares of E*TRADE Financial from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, August 22nd. BidaskClub downgraded shares of E*TRADE Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. Finally, Raymond James downgraded shares of E*TRADE Financial from a “strong-buy” rating to an “outperform” rating and set a $64.00 target price on the stock. in a research report on Tuesday, October 30th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $65.00.
NASDAQ:ETFC opened at $52.94 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. E*TRADE Financial has a one year low of $42.62 and a one year high of $66.46. The company has a market cap of $13.70 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 0.85 and a beta of 1.09.
E*TRADE Financial declared that its board has initiated a stock repurchase program on Thursday, October 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, October 29th. This represents a $0.56 annualized dividend and a yield of 1.06%. E*TRADE Financial’s payout ratio is 25.57%.
In related news, CFO Michael A. Pizzi acquired 10,000 shares of the stock in a transaction dated Friday, November 2nd. The stock was bought at an average price of $51.67 per share, for a total transaction of $516,700.00. Following the purchase, the chief financial officer now directly owns 88,171 shares of the company’s stock, valued at approximately $4,555,795.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joshua Weinreich acquired 5,725 shares of the stock in a transaction dated Tuesday, November 6th. The stock was bought at an average price of $52.33 per share, with a total value of $299,589.25. Following the purchase, the director now directly owns 7,318 shares in the company, valued at $382,950.94. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 32,668 shares of company stock valued at $1,685,354. Company insiders own 0.12% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in shares of E*TRADE Financial by 362.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,679 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 1,316 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of E*TRADE Financial in the 2nd quarter valued at $119,000. Stratos Wealth Partners LTD. bought a new stake in shares of E*TRADE Financial in the 3rd quarter valued at $102,000. Qube Research & Technologies Ltd bought a new stake in shares of E*TRADE Financial in the 2nd quarter valued at $128,000. Finally, First Interstate Bank bought a new stake in shares of E*TRADE Financial in the 3rd quarter valued at $122,000. Institutional investors own 91.30% of the company’s stock.
E*TRADE Financial Company Profile
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.
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