E*TRADE Financial Corporation (NASDAQ:ETFC) – Equities research analysts at Jefferies Group upped their Q3 2017 earnings per share estimates for E*TRADE Financial Corporation in a report released on Thursday. Jefferies Group analyst D. Fannon now expects that the financial services provider will post earnings of $0.51 per share for the quarter, up from their prior estimate of $0.50. Jefferies Group has a “Hold” rating and a $43.00 price objective on the stock. Jefferies Group also issued estimates for E*TRADE Financial Corporation’s FY2017 earnings at $2.27 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.67 EPS, FY2018 earnings at $2.48 EPS and FY2019 earnings at $2.82 EPS.

Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded E*TRADE Financial Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $50.00 price target on shares of E*TRADE Financial Corporation in a report on Monday, September 18th. Barclays PLC began coverage on E*TRADE Financial Corporation in a report on Friday, September 8th. They issued an “overweight” rating and a $45.00 price target on the stock. BidaskClub downgraded E*TRADE Financial Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price target (up previously from $40.00) on shares of E*TRADE Financial Corporation in a report on Tuesday, July 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $43.27.

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E*TRADE Financial Corporation (NASDAQ:ETFC) opened at 45.01 on Friday. E*TRADE Financial Corporation has a 12-month low of $27.33 and a 12-month high of $45.22. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 21.03 and a beta of 1.47. The stock has a 50 day moving average price of $41.41 and a 200-day moving average price of $37.89.

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

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of E*TRADE Financial Corporation by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 29,167,934 shares of the financial services provider’s stock valued at $1,109,256,000 after purchasing an additional 157,269 shares during the period. BlackRock Inc. increased its position in shares of E*TRADE Financial Corporation by 2,903.3% during the 1st quarter. BlackRock Inc. now owns 18,166,924 shares of the financial services provider’s stock valued at $633,844,000 after purchasing an additional 17,562,024 shares during the period. State Street Corp increased its position in shares of E*TRADE Financial Corporation by 1.8% during the 1st quarter. State Street Corp now owns 12,755,327 shares of the financial services provider’s stock valued at $445,031,000 after purchasing an additional 221,060 shares during the period. FMR LLC increased its position in shares of E*TRADE Financial Corporation by 24.3% during the 2nd quarter. FMR LLC now owns 10,737,023 shares of the financial services provider’s stock valued at $408,329,000 after purchasing an additional 2,096,445 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of E*TRADE Financial Corporation by 25.3% during the 2nd quarter. Victory Capital Management Inc. now owns 7,845,331 shares of the financial services provider’s stock valued at $298,357,000 after purchasing an additional 1,586,062 shares during the period. Institutional investors own 92.64% of the company’s stock.

In other news, CEO Karl A. Roessner sold 14,898 shares of E*TRADE Financial Corporation stock in a transaction on Friday, August 18th. The stock was sold at an average price of $39.41, for a total transaction of $587,130.18. Following the transaction, the chief executive officer now directly owns 232,702 shares in the company, valued at approximately $9,170,785.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James P. Healy purchased 5,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were purchased at an average price of $41.97 per share, for a total transaction of $209,850.00. Following the completion of 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 have sold a total of 72,623 shares of company stock worth $2,915,711 in the last ninety days. 0.17% of the stock is owned by company insiders.

E*TRADE Financial Corporation declared that its Board of Directors has initiated a stock repurchase 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 purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are often 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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