E*TRADE Financial’s (ETFC) Hold Rating Reaffirmed at Jefferies Group

Jefferies Group restated their hold rating on shares of E*TRADE Financial (NASDAQ:ETFC) in a research report sent to investors on Monday morning. They currently have a $56.00 target price on the financial services provider’s stock. Jefferies Group also issued estimates for E*TRADE Financial’s Q4 2017 earnings at $0.62 EPS, FY2017 earnings at $2.28 EPS, Q1 2018 earnings at $0.71 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.74 EPS, Q4 2018 earnings at $0.86 EPS, FY2018 earnings at $3.10 EPS and FY2019 earnings at $3.53 EPS.

ETFC has been the subject of a number of other research reports. SunTrust Banks restated a buy rating and set a $50.00 price objective on shares of E*TRADE Financial in a report on Friday, October 20th. Barclays boosted their price objective on E*TRADE Financial from $49.00 to $50.00 and gave the company an overweight rating in a report on Friday, October 20th. Zacks Investment Research cut E*TRADE Financial from a buy rating to a hold rating in a report on Monday, November 13th. Wells Fargo & Co boosted their price objective on E*TRADE Financial from $49.00 to $51.00 and gave the company an outperform rating in a report on Friday, October 20th. Finally, Credit Suisse Group assumed coverage on E*TRADE Financial in a report on Thursday, November 30th. They set an outperform rating and a $56.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $50.40.

Shares of E*TRADE Financial (ETFC) traded up $0.27 during trading on Monday, hitting $52.96. The stock had a trading volume of 1,519,676 shares, compared to its average volume of 2,168,785. The stock has a market cap of $14,220.00, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.16 and a beta of 1.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. E*TRADE Financial has a 12-month low of $32.25 and a 12-month high of $53.65.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.04. E*TRADE Financial had a return on equity of 9.34% and a net margin of 27.35%. The company had revenue of $599.00 million during the quarter, compared to analysts’ expectations of $598.96 million. During the same quarter in the previous year, the business earned $0.51 EPS. E*TRADE Financial’s revenue was up 23.3% compared to the same quarter last year. equities analysts expect that E*TRADE Financial will post 2.27 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sentry Investment Management LLC raised its position in E*TRADE Financial by 0.6% during the 2nd quarter. Sentry Investment Management LLC now owns 17,179 shares of the financial services provider’s stock valued at $653,000 after purchasing an additional 95 shares in the last quarter. BlueMountain Capital Management LLC raised its position in E*TRADE Financial by 0.6% during the 2nd quarter. BlueMountain Capital Management LLC now owns 30,621 shares of the financial services provider’s stock valued at $1,165,000 after purchasing an additional 182 shares in the last quarter. Krilogy Financial LLC raised its position in E*TRADE Financial by 7.5% during the 2nd quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 260 shares in the last quarter. Advisor Group Inc. raised its position in E*TRADE Financial by 2.6% during the 2nd quarter. Advisor Group Inc. now owns 14,833 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 382 shares in the last quarter. Finally, Symphony Asset Management LLC raised its position in E*TRADE Financial by 3.3% during the 2nd quarter. Symphony Asset Management LLC now owns 12,317 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 395 shares in the last quarter. 94.14% of the stock is owned by institutional investors and hedge funds.

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About E*TRADE Financial

E*Trade Financial Corporation is a financial services company. The Company provides online 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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