E*TRADE Financial (NASDAQ:ETFC) had its target price cut by equities research analysts at Morgan Stanley from $61.00 to $55.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 20.22% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. Compass Point set a $52.00 price objective on E*TRADE Financial and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Zacks Investment Research downgraded Hammerson from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Finally, BidaskClub downgraded Zebra Technologies from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $57.42.
Shares of ETFC opened at $45.75 on Thursday. The company has a fifty day simple moving average of $45.68. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.28. E*TRADE Financial has a 52-week low of $40.41 and a 52-week high of $63.39. The company has a market cap of $11.19 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 0.95 and a beta of 1.15.
E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.16. E*TRADE Financial had a return on equity of 18.06% and a net margin of 37.50%. The firm had revenue of $755.00 million during the quarter, compared to the consensus estimate of $738.04 million. During the same quarter in the previous year, the company posted $0.88 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that E*TRADE Financial will post 4.31 EPS for the current fiscal year.
In other news, Director Rodger A. Lawson sold 41,322 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.13, for a total transaction of $1,988,827.86. Following the completion of the sale, the director now owns 114,753 shares in the company, valued at $5,523,061.89. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Liberty Wealth Management LLC acquired a new stake in shares of E*TRADE Financial during the fourth quarter worth $27,000. Arrow Financial Corp acquired a new stake in shares of E*TRADE Financial during the first quarter worth $39,000. Bronfman E.L. Rothschild L.P. grew its stake in shares of E*TRADE Financial by 32.0% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 915 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 222 shares during the period. NuWave Investment Management LLC grew its stake in shares of E*TRADE Financial by 2,834.3% during the first quarter. NuWave Investment Management LLC now owns 1,027 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 992 shares during the period. Finally, Valeo Financial Advisors LLC grew its stake in shares of E*TRADE Financial by 1,111.1% during the first quarter. Valeo Financial Advisors LLC now owns 1,090 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,000 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.
E*TRADE Financial Company Profile
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.
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