E*TRADE Financial Corporation to Post Q3 2017 Earnings of $0.49 Per Share, SunTrust Banks Forecasts (ETFC)

E*TRADE Financial Corporation (NASDAQ:ETFC) – Equities researchers at SunTrust Banks increased their Q3 2017 earnings per share estimates for shares of E*TRADE Financial Corporation in a research report issued on Friday. SunTrust Banks analyst D. Mewhirter now anticipates that the financial services provider will post earnings per share of $0.49 for the quarter, up from their prior estimate of $0.46. SunTrust Banks currently has a “Buy” rating and a $43.00 price objective on the stock. SunTrust Banks also issued estimates for E*TRADE Financial Corporation’s Q4 2017 earnings at $0.57 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.61 EPS, Q4 2018 earnings at $0.66 EPS and FY2018 earnings at $2.48 EPS.

Several other equities research analysts have also recently weighed in on the company. Deutsche Bank AG restated a “buy” rating and set a $40.00 target price (up from $39.00) on shares of E*TRADE Financial Corporation in a research note on Sunday, April 23rd. Zacks Investment Research cut E*TRADE Financial Corporation from a “hold” rating to a “sell” rating in a research note on Monday, April 3rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $41.00 target price on shares of E*TRADE Financial Corporation in a research note on Friday, April 21st. Wells Fargo & Company restated an “outperform” rating and set a $41.00 target price (up from $40.00) on shares of E*TRADE Financial Corporation in a research note on Monday, June 12th. Finally, Instinet restated a “buy” rating and set a $44.00 target price (up from $42.00) on shares of E*TRADE Financial Corporation in a research note on Sunday, April 23rd. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.78.

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E*TRADE Financial Corporation (NASDAQ:ETFC) opened at 41.63 on Monday. E*TRADE Financial Corporation has a 12 month low of $24.35 and a 12 month high of $41.83. The firm has a 50-day moving average price of $37.54 and a 200 day moving average price of $35.94. The company has a market cap of $11.47 billion, a P/E ratio of 19.45 and a beta of 1.46.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The firm had revenue of $577 million during the quarter, compared to the consensus estimate of $553.31 million. During the same quarter in the previous year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year.

E*TRADE Financial Corporation announced that its board has authorized a share buyback plan on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

A number of hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new stake in E*TRADE Financial Corporation during the first quarter worth $357,000. Boston Partners increased its stake in E*TRADE Financial Corporation by 118.2% in the first quarter. Boston Partners now owns 241,034 shares of the financial services provider’s stock worth $8,410,000 after buying an additional 130,552 shares during the last quarter. Bank of Nova Scotia increased its stake in E*TRADE Financial Corporation by 71.8% in the first quarter. Bank of Nova Scotia now owns 614,202 shares of the financial services provider’s stock worth $21,430,000 after buying an additional 256,788 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in E*TRADE Financial Corporation by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 236,789 shares of the financial services provider’s stock worth $8,262,000 after buying an additional 7,438 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK increased its stake in E*TRADE Financial Corporation by 304.8% in the first quarter. Aberdeen Asset Management PLC UK now owns 264,548 shares of the financial services provider’s stock worth $9,230,000 after buying an additional 199,191 shares during the last quarter. Institutional investors and hedge funds own 92.54% of the company’s stock.

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.

Earnings History and Estimates for E*TRADE Financial Corporation (NASDAQ:ETFC)

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