Q4 2019 Earnings Forecast for E*TRADE Financial Corp (ETFC) Issued By Jefferies Financial Group

E*TRADE Financial Corp (NASDAQ:ETFC) – Research analysts at Jefferies Financial Group cut their Q4 2019 EPS estimates for shares of E*TRADE Financial in a note issued to investors on Tuesday, January 8th. Jefferies Financial Group analyst D. Fannon now forecasts that the financial services provider will post earnings of $1.11 per share for the quarter, down from their previous forecast of $1.14. Jefferies Financial Group currently has a “Buy” rating and a $61.00 target price on the stock. Jefferies Financial Group also issued estimates for E*TRADE Financial’s FY2020 earnings at $4.42 EPS.

Other research analysts have also issued reports about the company. Morgan Stanley lowered their price objective on E*TRADE Financial from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, October 9th. UBS Group lowered their price objective on E*TRADE Financial from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, October 8th. Zacks Investment Research upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Tuesday, September 25th. Bank of America lowered their price objective on E*TRADE Financial from $67.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, September 26th. Finally, Deutsche Bank lowered their price objective on E*TRADE Financial from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, November 16th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $62.24.

Shares of E*TRADE Financial stock opened at $47.88 on Thursday. The company has a market capitalization of $12.07 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 0.67 and a beta of 1.19. E*TRADE Financial has a fifty-two week low of $40.41 and a fifty-two week high of $66.46. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.00 earnings per share for the quarter, topping the 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 firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 earnings per share.

E*TRADE Financial announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

In other news, Director James P. Healy purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, December 11th. The shares were bought at an average cost of $45.36 per share, for a total transaction of $226,800.00. Following the completion of the purchase, the director now directly owns 49,735 shares of the company’s stock, valued at $2,255,979.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joshua Weinreich purchased 5,725 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were purchased at an average price of $52.33 per share, for a total transaction of $299,589.25. Following the completion of the purchase, the director now directly owns 7,318 shares of the company’s stock, valued at $382,950.94. The disclosure for this purchase can be found here. Insiders have acquired 37,668 shares of company stock worth $1,912,154 over the last 90 days. 0.12% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in ETFC. FMR LLC raised its stake in shares of E*TRADE Financial by 10.5% in the second quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock valued at $936,560,000 after acquiring an additional 1,452,296 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of E*TRADE Financial by 1.9% in the third quarter. Primecap Management Co. CA now owns 13,115,825 shares of the financial services provider’s stock valued at $687,138,000 after acquiring an additional 238,300 shares in the last quarter. First Trust Advisors LP raised its stake in shares of E*TRADE Financial by 23.3% in the third quarter. First Trust Advisors LP now owns 4,659,032 shares of the financial services provider’s stock valued at $244,087,000 after acquiring an additional 879,210 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of E*TRADE Financial by 2.3% in the third quarter. TIAA CREF Investment Management LLC now owns 3,131,100 shares of the financial services provider’s stock valued at $164,038,000 after acquiring an additional 71,481 shares in the last quarter. Finally, Putnam Investments LLC raised its stake in shares of E*TRADE Financial by 15.9% in the second quarter. Putnam Investments LLC now owns 2,849,752 shares of the financial services provider’s stock valued at $174,291,000 after acquiring an additional 391,772 shares in the last quarter. Institutional investors own 93.96% of the company’s stock.

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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