E*TRADE Financial (ETFC) Issues Quarterly Earnings Results

E*TRADE Financial (NASDAQ:ETFC) issued its quarterly earnings results on Thursday. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.17, RTT News reports. The business had revenue of $720.00 million during the quarter, compared to the consensus estimate of $710.62 million. E*TRADE Financial had a return on equity of 15.37% and a net margin of 32.83%. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share.

E*TRADE Financial stock opened at $49.08 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.28 and a quick ratio of 0.28. E*TRADE Financial has a 52 week low of $42.55 and a 52 week high of $66.46. The stock has a market cap of $12.91 billion, a P/E ratio of 22.41, a PEG ratio of 0.84 and a beta of 1.08.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Tuesday, October 30th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Monday, October 29th.

Several brokerages have weighed in on ETFC. Morgan Stanley lowered their price target on E*TRADE Financial from $78.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, July 25th. Raymond James lowered their price target on E*TRADE Financial from $77.00 to $75.00 and set a “strong-buy” rating for the company in a report on Friday, July 13th. Zacks Investment Research raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Monday, July 16th. Barclays decreased their target price on E*TRADE Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Friday. Finally, ValuEngine downgraded E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. E*TRADE Financial presently has an average rating of “Buy” and an average target price of $66.44.

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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Earnings History for E*TRADE Financial (NASDAQ:ETFC)

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