E*TRADE Financial Corp (ETFC) Expected to Post Quarterly Sales of $736.15 Million

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Brokerages expect E*TRADE Financial Corp (NASDAQ:ETFC) to announce sales of $736.15 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for E*TRADE Financial’s earnings, with the highest sales estimate coming in at $741.00 million and the lowest estimate coming in at $731.45 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 15.6%. The firm is expected to report its next earnings report on Thursday, January 24th.

On average, analysts expect that E*TRADE Financial will report full-year sales of $2.87 billion for the current financial year, with estimates ranging from $2.87 billion to $2.88 billion. For the next financial year, analysts forecast that the firm will post sales of $3.10 billion, with estimates ranging from $3.02 billion to $3.17 billion. Zacks Investment Research’s sales calculations are a mean 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 Thursday, October 18th. The financial services provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.17. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.37%. The firm had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $710.62 million. During the same quarter in the previous year, the business posted $0.49 EPS. The company’s quarterly revenue was up 20.2% on a year-over-year basis.

A number of analysts have recently commented on ETFC shares. Jefferies Financial Group upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Wednesday, September 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, September 25th. BidaskClub lowered E*TRADE Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. Wolfe Research started coverage on E*TRADE Financial in a research report on Tuesday, September 25th. They issued a “market perform” rating for the company. Finally, Morgan Stanley set a $70.00 price target on E*TRADE Financial and gave the stock a “buy” rating in a research report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $66.44.

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC raised its position in 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 worth $102,000 after buying an additional 1,316 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in E*TRADE Financial in the 2nd quarter worth about $119,000. Qube Research & Technologies Ltd purchased a new position in E*TRADE Financial in the 2nd quarter worth about $128,000. NewSquare Capital LLC purchased a new position in E*TRADE Financial in the 2nd quarter worth about $163,000. Finally, Zacks Investment Management purchased a new position in E*TRADE Financial in the 2nd quarter worth about $200,000. 90.80% of the stock is owned by hedge funds and other institutional investors.

Shares of ETFC stock traded up $0.16 during mid-day trading on Wednesday, reaching $49.08. 7,188,332 shares of the company’s stock traded hands, compared to its average volume of 3,323,972. E*TRADE Financial has a 12 month low of $42.55 and a 12 month high of $66.46. The stock has a market cap of $12.91 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 0.84 and a beta of 1.08. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.43.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Tuesday, October 30th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Monday, October 29th.

About E*TRADE Financial

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

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