The Q3 2016 Earnings Forecast for E-Trade Financial Corp. (ETFC) Issued By Jefferies Group

The Q3 2016 Earnings Forecast for E-Trade Financial Corp. (ETFC) Issued By Jefferies Group

E-Trade Financial Corp. (NASDAQ:ETFC) – Stock analysts at Jefferies Group reduced their Q3 2016 earnings per share (EPS) estimates for shares of E-Trade Financial Corp. in a research report issued on Tuesday. Jefferies Group analyst D. Fannon now forecasts that the brokerage will post earnings of $0.36 per share for the quarter, down from their previous forecast of $0.39. Jefferies Group currently 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.

E-Trade Financial Corp. (NASDAQ:ETFC) last posted its quarterly earnings data 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 earned $474 million during 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%.

Several other research firms have also weighed in on ETFC. Credit Agricole SA lifted their price objective on shares of E-Trade Financial Corp. from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, September 22nd. Morgan Stanley assumed coverage on shares of E-Trade Financial Corp. in a research note on Monday, September 26th. They issued an “equal weight” rating and a $29.00 price target on the stock. Credit Suisse Group AG assumed coverage on shares of E-Trade Financial Corp. in a research note on Wednesday, September 21st. They issued an “outperform” rating and a $33.00 price target on the stock. Bank of America Corp. reaffirmed a “buy” rating and issued a $28.00 price target on shares of E-Trade Financial Corp. in a research note on Tuesday, September 13th. Finally, Barclays PLC set a $30.00 price target on shares of E-Trade Financial Corp. and gave the company a “buy” rating in a research note on Tuesday, August 9th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $30.65.

E-Trade Financial Corp. (NASDAQ:ETFC) traded down 0.225% during mid-day trading on Wednesday, hitting $28.865. 1,029,820 shares of the company traded hands. E-Trade Financial Corp. has a one year low of $19.61 and a one year high of $30.98. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 37.831 and a beta of 1.70. The company’s 50-day moving average is $27.59 and its 200-day moving average is $25.76.

Institutional investors have recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC increased its position in E-Trade Financial Corp. by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 22,017 shares of the company’s stock valued at $517,000 after buying an additional 75 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in shares of E-Trade Financial Corp. by 0.8% in the third quarter. Independent Portfolio Consultants Inc. now owns 17,405 shares of the company’s stock worth $507,000 after buying an additional 145 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of E-Trade Financial Corp. by 1.3% in the second quarter. LS Investment Advisors LLC now owns 12,642 shares of the company’s stock worth $297,000 after buying an additional 162 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of E-Trade Financial Corp. by 0.7% in the second quarter. CIBC Asset Management Inc now owns 28,701 shares of the company’s stock worth $674,000 after buying an additional 200 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of E-Trade Financial Corp. by 3.1% in the second quarter. Glenmede Trust Co. NA now owns 11,544 shares of the company’s stock worth $270,000 after buying an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 91.48% of the company’s stock.

About E-Trade Financial Corp.

Related posts

Leave a Comment