Analysts Set E*TRADE Financial Corp (ETFC) PT at $67.07

Shares of E*TRADE Financial Corp (NASDAQ:ETFC) have received a consensus rating of “Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $67.07.

A number of equities analysts recently weighed in on ETFC shares. Jefferies Financial Group raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Wednesday, September 19th. They noted that the move was a valuation call. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Tuesday, September 25th. BidaskClub downgraded shares of E*TRADE Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Morgan Stanley set a $70.00 target price on shares of E*TRADE Financial and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Finally, Wolfe Research started coverage on shares of E*TRADE Financial in a research note on Tuesday, September 25th. They set a “market perform” rating for the company.

ETFC stock opened at $49.80 on Wednesday. The firm has a market cap of $13.83 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 0.90 and a beta of 1.09. E*TRADE Financial has a 52-week low of $42.55 and a 52-week 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 results on Thursday, July 19th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 net margin of 29.13% and a return on equity of 13.39%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. On average, research analysts predict that E*TRADE Financial will post 3.6 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BB&T Securities LLC grew its holdings in E*TRADE Financial by 58.5% in the first quarter. BB&T Securities LLC now owns 6,981 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 2,577 shares during the period. UBS Group AG grew its holdings in E*TRADE Financial by 4.3% in the first quarter. UBS Group AG now owns 417,085 shares of the financial services provider’s stock worth $23,111,000 after purchasing an additional 17,243 shares during the period. A.R.T. Advisors LLC grew its holdings in E*TRADE Financial by 69.6% in the first quarter. A.R.T. Advisors LLC now owns 114,500 shares of the financial services provider’s stock worth $6,344,000 after purchasing an additional 47,000 shares during the period. Blackhawk Capital Partners LLC. grew its holdings in E*TRADE Financial by 81.4% in the first quarter. Blackhawk Capital Partners LLC. now owns 1,805 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 810 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in E*TRADE Financial by 7.9% in the first quarter. The Manufacturers Life Insurance Company now owns 339,181 shares of the financial services provider’s stock worth $18,793,000 after purchasing an additional 24,953 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Intrinsic Value

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

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