Equities analysts expect E*TRADE Financial Corp (NASDAQ:ETFC) to report sales of $744.34 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for E*TRADE Financial’s earnings. The highest sales estimate is $748.02 million and the lowest is $742.00 million. E*TRADE Financial posted 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.
On average, analysts expect that E*TRADE Financial will report full-year sales of $2.89 billion for the current year, with estimates ranging from $2.88 billion to $2.91 billion. For the next fiscal year, analysts forecast that the firm will post sales of $3.09 billion, with estimates ranging from $3.02 billion to $3.13 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for E*TRADE Financial.
E*TRADE Financial (NASDAQ:ETFC) last posted its earnings results on Thursday, October 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.17. The company had revenue of $720.00 million during the quarter, compared to analyst estimates of $710.62 million. E*TRADE Financial had a return on equity of 15.45% and a net margin of 32.83%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS.
In other news, insider Brent Simonich purchased 1,943 shares of E*TRADE Financial stock in a transaction on Friday, November 2nd. The stock was purchased at an average price of $51.50 per share, with a total value of $100,064.50. Following the transaction, the insider now directly owns 26,330 shares in the company, valued at approximately $1,355,995. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael A. Pizzi purchased 10,000 shares of E*TRADE Financial stock in a transaction on Friday, November 2nd. The shares were purchased at an average cost of $51.67 per share, with a total value of $516,700.00. Following the transaction, the chief financial officer now owns 88,171 shares in the company, valued at $4,555,795.57. The disclosure for this purchase can be found here. Insiders purchased a total of 32,668 shares of company stock valued at $1,685,354 over the last quarter. 0.12% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in E*TRADE Financial by 16.7% during the 2nd quarter. BlackRock Inc. now owns 25,360,724 shares of the financial services provider’s stock worth $1,551,060,000 after acquiring an additional 3,638,467 shares during the last quarter. FMR LLC boosted its position in E*TRADE Financial by 10.5% during the 2nd quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock worth $936,560,000 after acquiring an additional 1,452,296 shares during the last quarter. Primecap Management Co. CA boosted its position in E*TRADE Financial by 1.9% during the 3rd quarter. Primecap Management Co. CA now owns 13,115,825 shares of the financial services provider’s stock worth $687,138,000 after acquiring an additional 238,300 shares during the last quarter. First Trust Advisors LP boosted its position in E*TRADE Financial by 23.3% during the 3rd quarter. First Trust Advisors LP now owns 4,659,032 shares of the financial services provider’s stock worth $244,087,000 after acquiring an additional 879,210 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in E*TRADE Financial by 2.3% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,131,100 shares of the financial services provider’s stock worth $164,038,000 after acquiring an additional 71,481 shares during the last quarter. 94.52% of the stock is owned by hedge funds and other institutional investors.
Shares of E*TRADE Financial stock traded down $1.66 during trading on Tuesday, hitting $45.74. 4,189,024 shares of the company were exchanged, compared to its average volume of 2,562,232. The firm has a market capitalization of $11.63 billion, a P/E ratio of 20.89, a PEG ratio of 0.70 and a beta of 1.09. E*TRADE Financial has a 1-year low of $45.50 and a 1-year high of $66.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.
E*TRADE Financial declared that its Board of Directors has initiated a stock buyback plan on Thursday, October 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Tuesday, October 30th were given a $0.14 dividend. The ex-dividend date of this dividend was Monday, October 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.22%. E*TRADE Financial’s dividend payout ratio is presently 25.57%.
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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