E*TRADE Financial (ETFC) Downgraded by BidaskClub

E*TRADE Financial (NASDAQ:ETFC) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.

ETFC has been the subject of several other reports. Credit Suisse Group decreased their price objective on E*TRADE Financial from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, July 20th. ValuEngine downgraded E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Zacks Investment Research downgraded E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Raymond James decreased their price objective 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. Finally, Morgan Stanley lifted their price objective on E*TRADE Financial from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, July 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. E*TRADE Financial currently has an average rating of “Buy” and a consensus price target of $67.25.

Shares of ETFC opened at $53.71 on Friday. The firm has a market cap of $14.12 billion, a PE ratio of 17.72, a P/E/G ratio of 0.92 and a beta of 1.12. E*TRADE Financial has a 12-month low of $40.55 and a 12-month high of $66.46. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.43.

E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.07. The firm had revenue of $710.00 million during the quarter, compared to the consensus estimate of $707.78 million. E*TRADE Financial had a return on equity of 13.39% and a net margin of 29.13%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. analysts predict that E*TRADE Financial will post 3.59 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its holdings in E*TRADE Financial by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,546,675 shares of the financial services provider’s stock worth $94,595,000 after purchasing an additional 35,983 shares in the last quarter. Piedmont Investment Advisors LLC raised its holdings in E*TRADE Financial by 25.6% in the second quarter. Piedmont Investment Advisors LLC now owns 161,495 shares of the financial services provider’s stock worth $9,877,000 after purchasing an additional 32,900 shares in the last quarter. CIBC World Markets Inc. raised its holdings in E*TRADE Financial by 277.8% in the second quarter. CIBC World Markets Inc. now owns 44,465 shares of the financial services provider’s stock worth $2,719,000 after purchasing an additional 32,694 shares in the last quarter. Parallel Advisors LLC raised its holdings in E*TRADE Financial by 362.5% in the second quarter. Parallel Advisors LLC now owns 1,679 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in E*TRADE Financial by 6.2% in the second quarter. Chase Investment Counsel Corp now owns 74,499 shares of the financial services provider’s stock worth $4,556,000 after purchasing an additional 4,374 shares in the last quarter. Institutional investors and hedge funds own 90.95% of the company’s stock.

E*TRADE Financial 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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for E*TRADE Financial (NASDAQ:ETFC)

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