Wall Street brokerages predict that E*TRADE Financial Corp (NASDAQ:ETFC) will report $732.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for E*TRADE Financial’s earnings, with the highest sales estimate coming in at $753.65 million and the lowest estimate coming in at $717.00 million. E*TRADE Financial reported sales of $720.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.7%. The company is scheduled to report its next earnings results on Thursday, October 17th.
On average, analysts expect that E*TRADE Financial will report full-year sales of $2.92 billion for the current fiscal year, with estimates ranging from $2.87 billion to $3.00 billion. For the next financial year, analysts expect that the company will report sales of $2.92 billion, with estimates ranging from $2.87 billion to $2.99 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for E*TRADE Financial.
E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.10 by $0.02. The business had revenue of $685.00 million for the quarter, compared to the consensus estimate of $751.35 million. E*TRADE Financial had a net margin of 36.75% and a return on equity of 18.44%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS.
Shares of ETFC stock traded up $0.98 during trading hours on Tuesday, hitting $41.09. The company’s stock had a trading volume of 2,929,600 shares, compared to its average volume of 2,754,246. The company has a 50 day moving average of $45.57 and a 200 day moving average of $47.23. The stock has a market cap of $9.85 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.89 and a beta of 1.15. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.28. E*TRADE Financial has a 12-month low of $40.02 and a 12-month high of $61.55.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 19th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, August 16th. E*TRADE Financial’s payout ratio is 14.40%.
E*TRADE Financial declared that its board has initiated a stock buyback plan on Thursday, July 18th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 12.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Institutional investors and hedge funds have recently bought and sold shares of the business. Kavar Capital Partners LLC purchased a new position in E*TRADE Financial during the second quarter valued at $31,000. Arrow Financial Corp purchased a new position in E*TRADE Financial during the first quarter valued at $39,000. Gemmer Asset Management LLC purchased a new position in E*TRADE Financial during the second quarter valued at $42,000. FNY Investment Advisers LLC lifted its holdings in E*TRADE Financial by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 1,000 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 500 shares in the last quarter. Finally, Ossiam purchased a new position in E*TRADE Financial during the second quarter valued at $44,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.
About E*TRADE Financial
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.
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