Zacks: Brokerages Anticipate E-Trade (ETFC) to Announce $0.78 Earnings Per Share
Brokerages predict that E-Trade (NASDAQ:ETFC) will report earnings of $0.78 per share for the current quarter, Zacks reports. Four analysts have made estimates for E-Trade’s earnings. The lowest EPS estimate is $0.72 and the highest is $0.83. E-Trade reported earnings per share of $0.48 during the same quarter last year, which suggests a positive year over year growth rate of 62.5%. The company is expected to issue its next earnings report after the market closes on Thursday, April 19th.
On average, analysts expect that E-Trade will report full-year earnings of $3.34 per share for the current financial year, with EPS estimates ranging from $3.25 to $3.42. For the next fiscal year, analysts forecast that the firm will report earnings of $3.78 per share, with EPS estimates ranging from $3.55 to $4.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for E-Trade.
E-Trade (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.13). The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $629.03 million. E-Trade had a net margin of 25.95% and a return on equity of 10.07%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS.
In related news, insider Brent Simonich sold 7,680 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $53.00, for a total transaction of $407,040.00. Following the sale, the insider now owns 26,240 shares of the company’s stock, valued at approximately $1,390,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph L. Sclafani sold 2,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.75, for a total value of $105,500.00. Following the sale, the director now directly owns 36,304 shares in the company, valued at approximately $1,915,036. The disclosure for this sale can be found here. Insiders have sold a total of 232,579 shares of company stock worth $12,040,724 in the last three months. 0.12% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB lifted its holdings in E-Trade by 10.0% during the 4th quarter. Xact Kapitalforvaltning AB now owns 25,489 shares of the financial services provider’s stock worth $1,263,000 after purchasing an additional 2,314 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of E-Trade by 275.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 24,776 shares of the financial services provider’s stock valued at $1,228,000 after acquiring an additional 18,182 shares in the last quarter. CNB Bank purchased a new stake in shares of E-Trade in the 4th quarter valued at about $114,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of E-Trade by 127.5% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 338,973 shares of the financial services provider’s stock valued at $16,803,000 after acquiring an additional 189,950 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of E-Trade by 12.5% in the 4th quarter. William Blair Investment Management LLC now owns 29,320 shares of the financial services provider’s stock valued at $1,453,000 after acquiring an additional 3,264 shares in the last quarter. 93.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ ETFC traded up $0.63 during trading on Monday, reaching $57.59. 3,004,179 shares of the stock traded hands, compared to its average volume of 2,788,296. E-Trade has a 52-week low of $33.06 and a 52-week high of $58.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $15,102.73, a PE ratio of 26.30, a P/E/G ratio of 0.70 and a beta of 1.28.
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E-Trade Company Profile
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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