E*TRADE Financial (ETFC) Receives New Coverage from Analysts at Wolfe Research

Equities research analysts at Wolfe Research assumed coverage on shares of E*TRADE Financial (NASDAQ:ETFC) in a report released on Tuesday, The Fly reports. The brokerage set a “market perform” rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the company. Jefferies Financial Group raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Wednesday, September 19th. They noted that the move was a valuation call. Zacks Investment Research cut E*TRADE Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Morgan Stanley set a $70.00 price objective on E*TRADE Financial and gave the stock a “buy” rating in a research report on Tuesday, September 18th. BidaskClub cut E*TRADE Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. Finally, Deutsche Bank cut their price objective on E*TRADE Financial from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, August 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $67.56.

Shares of NASDAQ ETFC traded down $0.33 during trading hours on Tuesday, hitting $54.08. 225,556 shares of the company’s stock were exchanged, compared to its average volume of 2,971,786. E*TRADE Financial has a 1-year low of $41.50 and a 1-year high of $66.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $14.52 billion, a PE ratio of 24.69, a P/E/G ratio of 0.95 and a beta of 1.13.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.07. E*TRADE Financial had a return on equity of 13.39% and a net margin of 29.13%. The business had revenue of $710.00 million during the quarter, compared to analysts’ expectations of $707.78 million. During the same quarter in the previous year, the firm earned $0.52 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. equities research analysts forecast that E*TRADE Financial will post 3.6 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of ETFC. Blackhawk Capital Partners LLC. raised its holdings in E*TRADE Financial by 81.4% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 1,805 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 810 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of E*TRADE Financial by 362.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,679 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,316 shares during the period. Nisa Investment Advisors LLC bought a new stake in shares of E*TRADE Financial in the 2nd quarter valued at approximately $119,000. Qube Research & Technologies Ltd bought a new stake in shares of E*TRADE Financial in the 2nd quarter valued at approximately $128,000. Finally, NewSquare Capital LLC bought a new stake in shares of E*TRADE Financial in the 2nd quarter valued at approximately $163,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.

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

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