E TRADE Financial Sees Significant Decrease in Short Interest (ETFC)
E TRADE Financial (NASDAQ:ETFC) was the target of a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 5,158,824 shares, a drop of 28.7% from the July 31st total of 7,236,330 shares, American Banking and Market News reports. Based on an average trading volume of 2,383,353 shares, the short-interest ratio is currently 2.2 days. Approximately 1.8% of the shares of the company are sold short.
A number of analysts have recently weighed in on ETFC shares. Analysts at Deutsche Bank initiated coverage on shares of E TRADE Financial in a research note on Thursday, August 14th. They set a “hold” rating and a $23.00 price target on the stock. Separately, analysts at Nomura reiterated a “buy” rating on shares of E TRADE Financial in a research note on Thursday, July 24th. They now have a $27.00 price target on the stock, down previously from $28.00. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of E TRADE Financial in a research note on Thursday, July 24th. They now have a $27.50 price target on the stock, up previously from $24.00. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.30.
Shares of E TRADE Financial (NASDAQ:ETFC) opened at 22.29 on Wednesday. E TRADE Financial has a 1-year low of $14.81 and a 1-year high of $25.58. The stock has a 50-day moving average of $21.42 and a 200-day moving average of $21.66. The company has a market cap of $6.435 billion and a P/E ratio of 24.46.
E TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $438.00 million for the quarter, compared to the consensus estimate of $431.00 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that E TRADE Financial will post $1.02 earnings per share for the current fiscal year.
E*TRADE Financial Corporation (NASDAQ:ETFC) is a financial services company, which provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial.
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