E-Trade Financial Corp. (ETFC) Price Target Raised to $31.00
E-Trade Financial Corp. (NASDAQ:ETFC) had its price objective increased by research analysts at Jefferies Group from $28.00 to $31.00 in a research note issued to investors on Tuesday. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s price objective would suggest a potential upside of 5.41% from the stock’s current price.
ETFC has been the topic of a number of other research reports. Credit Agricole SA upped their target price on shares of E-Trade Financial Corp. from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 22nd. Morgan Stanley initiated coverage on shares of E-Trade Financial Corp. in a research report on Monday, September 26th. They set an “equal weight” rating and a $29.00 price objective for the company. Credit Suisse Group AG initiated coverage on shares of E-Trade Financial Corp. in a research report on Wednesday, September 21st. They set an “outperform” rating and a $33.00 price objective for the company. Bank of America Corp. reaffirmed a “buy” rating and set a $28.00 price objective on shares of E-Trade Financial Corp. in a research report on Tuesday, September 13th. Finally, Nomura reaffirmed a “buy” rating on shares of E-Trade Financial Corp. in a research report on Monday, July 11th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.65.
E-Trade Financial Corp. (NASDAQ:ETFC) traded down 2.159% during midday trading on Tuesday, hitting $28.775. 2,865,963 shares of the stock were exchanged. The firm’s 50-day moving average is $27.48 and its 200 day moving average is $25.73. E-Trade Financial Corp. has a 52 week low of $19.61 and a 52 week high of $30.98. 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. (NASDAQ:ETFC) last issued its earnings results on Thursday, July 21st. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. The business had revenue of $474 million for the quarter, compared to analyst estimates of $472.50 million. E-Trade Financial Corp. had a net margin of 15.07% and a return on equity of 7.64%. Equities research analysts expect that E-Trade Financial Corp. will post $1.70 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Mizuho Asset Management Co. Ltd. acquired a new stake in E-Trade Financial Corp. during the second quarter valued at approximately $110,000. Meeder Asset Management Inc. purchased a new stake in shares of E-Trade Financial Corp. during the first quarter valued at approximately $132,000. FNY Managed Accounts LLC increased its stake in shares of 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 during the period. I.G. Investment Management LTD. increased its stake in shares of 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 during the period. Finally, Seven Eight Capital LLC purchased a new stake in shares of E-Trade Financial Corp. during the first quarter valued at approximately $196,000. 91.48% of the stock is owned by institutional investors and hedge funds.
E-Trade Financial Corp. Company Profile
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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