Jefferies Group Comments on E-Trade Financial Corp.’s Q3 2016 Earnings (ETFC)
E-Trade Financial Corp. (NASDAQ:ETFC) – Jefferies Group cut their Q3 2016 earnings per share (EPS) estimates for shares of E-Trade Financial Corp. in a report issued on Tuesday. Jefferies Group analyst D. Fannon now expects that the brokerage will post earnings of $0.36 per share for the quarter, down from their previous estimate of $0.39. Jefferies Group has a “Hold” rating and a $31.00 price target on the stock. Jefferies Group also issued estimates for E-Trade Financial Corp.’s Q4 2016 earnings at $0.39 EPS, Q1 2017 earnings at $0.38 EPS, Q2 2017 earnings at $0.44 EPS, Q3 2017 earnings at $0.43 EPS, Q4 2017 earnings at $0.49 EPS and FY2017 earnings at $1.75 EPS.
Several other equities research analysts also recently issued reports on ETFC. Deutsche Bank AG reaffirmed a “buy” rating on shares of E-Trade Financial Corp. in a report on Sunday, July 10th. Nomura reissued a “buy” rating on shares of E-Trade Financial Corp. in a report on Monday, July 11th. Bank of America Corp. reissued a “buy” rating and set a $28.00 target price on shares of E-Trade Financial Corp. in a report on Tuesday, September 13th. Compass Point dropped their target price on E-Trade Financial Corp. from $31.00 to $30.00 and set a “buy” rating for the company in a report on Friday, July 22nd. Finally, Barclays PLC set a $30.00 target price on E-Trade Financial Corp. and gave the stock a “buy” rating in a report on Tuesday, August 9th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $31.12.
E-Trade Financial Corp. (NASDAQ:ETFC) opened at 28.12 on Wednesday. The firm has a market cap of $7.79 billion, a P/E ratio of 36.85 and a beta of 1.70. The company’s 50-day moving average is $27.77 and its 200 day moving average is $25.79. E-Trade Financial Corp. has a 12 month low of $19.61 and a 12 month high of $30.98.
E-Trade Financial Corp. (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.10. The business had revenue of $474 million for the quarter, compared to the consensus estimate of $472.50 million. E-Trade Financial Corp. had a net margin of 15.07% and a return on equity of 7.64%.
Hedge funds have recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. purchased a new stake in shares of E-Trade Financial Corp. during the second quarter valued at approximately $110,000. Meeder Asset Management Inc. purchased a new stake in shares of E-Trade Financial Corp. during the first quarter valued at approximately $132,000. FNY Managed Accounts LLC raised its stake in shares of E-Trade Financial Corp. by 128.3% in the second quarter. FNY Managed Accounts LLC now owns 6,850 shares of the company’s stock valued at $161,000 after buying an additional 3,850 shares during the last quarter. I.G. Investment Management LTD. raised its stake in shares of E-Trade Financial Corp. by 11.8% in the second quarter. I.G. Investment Management LTD. now owns 7,758 shares of the company’s stock valued at $182,000 after buying an additional 821 shares during the last quarter. Finally, Seven Eight Capital LLC purchased a new stake in shares of E-Trade Financial Corp. during the first quarter valued at approximately $196,000. 91.48% of the stock is owned by institutional investors.
About E-Trade Financial Corp.
E*Trade Financial Corporation is a financial services company. The Company provides brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors.
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