E-Trade (NASDAQ:ETFC) announced its quarterly earnings results on Thursday. The financial services provider reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.09, RTT News reports. E-Trade had a net margin of 25.95% and a return on equity of 10.07%. The company had revenue of $708.00 million during the quarter, compared to the consensus estimate of $686.31 million. During the same quarter last year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year.
Shares of ETFC traded up $0.77 during mid-day trading on Thursday, hitting $58.83. The company’s stock had a trading volume of 4,500,011 shares, compared to its average volume of 2,779,616. E-Trade has a 52-week low of $33.06 and a 52-week high of $59.23. The stock has a market capitalization of $15,495.14, a PE ratio of 26.86, a PEG ratio of 0.71 and a beta of 1.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.27 and a current ratio of 0.27.
A number of research firms recently weighed in on ETFC. JMP Securities lifted their target price on shares of E-Trade from $58.00 to $60.00 and gave the company a “market outperform” rating in a research note on Thursday, March 29th. Raymond James upgraded shares of E-Trade from an “outperform” rating to a “strong-buy” rating in a report on Monday, March 12th. BidaskClub downgraded shares of E-Trade from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 30th. SunTrust Banks reiterated a “buy” rating and set a $66.00 price target on shares of E-Trade in a report on Tuesday, February 13th. Finally, UBS upped their price target on shares of E-Trade from $61.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. E-Trade presently has an average rating of “Buy” and an average target price of $58.24.
In other news, Director Joseph L. Sclafani sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $52.75, for a total value of $105,500.00. Following the completion of the sale, the director now owns 36,304 shares of the company’s stock, valued at approximately $1,915,036. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brent Simonich sold 7,680 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $53.00, for a total transaction of $407,040.00. Following the completion of the sale, the insider now directly owns 26,240 shares of the company’s stock, valued at approximately $1,390,720. The disclosure for this sale can be found here. Insiders sold a total of 232,579 shares of company stock valued at $12,040,724 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.
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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