E-Trade Financial Corp. (ETFC) Price Target Raised to $31.00
E-Trade Financial Corp. (NASDAQ:ETFC) had its price target hoisted by stock analysts at Jefferies Group from $28.00 to $31.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s price target would suggest a potential upside of 5.41% from the stock’s current price.
A number of other analysts have also commented on the stock. Deutsche Bank AG reissued a “buy” rating on shares of E-Trade Financial Corp. in a research report on Sunday, July 10th. Nomura reissued a “buy” rating on shares of E-Trade Financial Corp. in a research report on Monday, July 11th. Bank of America Corp. reissued a “buy” rating and issued a $28.00 price objective on shares of E-Trade Financial Corp. in a research report on Tuesday, September 13th. Compass Point cut their price objective on shares of E-Trade Financial Corp. from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. Finally, Barclays PLC set a $30.00 price objective on shares of E-Trade Financial Corp. and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. E-Trade Financial Corp. has an average rating of “Buy” and an average price target of $30.65.
Shares of E-Trade Financial Corp. (NASDAQ:ETFC) traded down 2.159% during mid-day trading on Tuesday, reaching $28.775. 2,865,963 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $27.48 and its 200-day moving average is $25.73. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 37.713 and a beta of 1.70. E-Trade Financial Corp. has a 52-week low of $19.61 and a 52-week high of $30.98.
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E-Trade Financial Corp. (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.10. E-Trade Financial Corp. had a net margin of 15.07% and a return on equity of 7.64%. The firm had revenue of $474 million for the quarter, compared to analyst estimates of $472.50 million. On average, equities analysts expect that E-Trade Financial Corp. will post $1.70 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Mizuho Asset Management Co. Ltd. acquired a new position in E-Trade Financial Corp. during the second quarter valued at approximately $110,000. Meeder Asset Management Inc. purchased a new stake in E-Trade Financial Corp. during the first quarter valued at $132,000. FNY Managed Accounts LLC boosted its stake in 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 in the last quarter. I.G. Investment Management LTD. boosted its stake in 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 in the last quarter. Finally, Seven Eight Capital LLC purchased a new stake in E-Trade Financial Corp. during the first quarter valued at $196,000. Institutional investors and hedge funds own 91.48% of the company’s stock.
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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