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.

How to Become a New Pot Stock Millionaire

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.

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on E-Trade from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Zacks Investment Research raised E-Trade from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, April 3rd. UBS upped their price target on E-Trade from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Jefferies Group reaffirmed a “hold” rating and set a $56.00 price target on shares of E-Trade in a research report on Monday, January 8th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $67.00 price target (up previously from $56.00) on shares of E-Trade in a research report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.24.

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.

COPYRIGHT VIOLATION WARNING: “Zacks: Brokerages Anticipate E-Trade (ETFC) to Announce $0.78 Earnings Per Share” was reported by Daily Political and is the property of of Daily Political. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.dailypolitical.com/2018/04/16/zacks-brokerages-anticipate-e-trade-etfc-to-announce-0-78-earnings-per-share.html.

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.

Get a free copy of the Zacks research report on E-Trade (ETFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for E-Trade (NASDAQ:ETFC)

Receive News & Ratings for E-Trade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E-Trade and related companies with MarketBeat.com's FREE daily email newsletter.