Morgan Stanley upgraded shares of E*TRADE Financial (NASDAQ:ETFC) from an equal weight rating to an overweight rating in a report released on Wednesday morning. They currently have $43.00 target price on the financial services provider’s stock, down from their prior target price of $44.00.
ETFC has been the subject of several other reports. Deutsche Bank upped their target price on E*TRADE Financial from $48.00 to $49.00 and gave the company a buy rating in a report on Wednesday, October 25th. Zacks Investment Research raised E*TRADE Financial from a hold rating to a buy rating and set a $50.00 target price for the company in a report on Tuesday, October 10th. Credit Suisse Group started coverage on E*TRADE Financial in a report on Thursday, November 30th. They issued an outperform rating and a $56.00 target price for the company. Barclays started coverage on E*TRADE Financial in a report on Friday, September 8th. They issued an overweight rating and a $45.00 target price for the company. Finally, Bank of America raised E*TRADE Financial from a neutral rating to a buy rating and upped their target price for the company from $44.00 to $49.00 in a report on Monday, October 9th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. E*TRADE Financial presently has a consensus rating of Buy and an average target price of $48.60.
Shares of E*TRADE Financial (NASDAQ:ETFC) traded up $0.17 on Wednesday, reaching $51.47. The company’s stock had a trading volume of 2,120,000 shares, compared to its average volume of 2,470,000. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market cap of $13,790.00, a price-to-earnings ratio of 24.16, a P/E/G ratio of 1.22 and a beta of 1.46. E*TRADE Financial has a 1 year low of $32.25 and a 1 year high of $52.19.
E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $599.00 million during the quarter, compared to analyst estimates of $598.96 million. E*TRADE Financial had a return on equity of 9.34% and a net margin of 27.35%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. analysts expect that E*TRADE Financial will post 2.27 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. Valeo Financial Advisors LLC purchased a new position in E*TRADE Financial in the third quarter valued at approximately $136,000. Advisors Asset Management Inc. lifted its stake in E*TRADE Financial by 80.8% in the second quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 1,448 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in E*TRADE Financial by 21.8% in the second quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 614 shares during the last quarter. Krilogy Financial LLC lifted its stake in E*TRADE Financial by 7.5% in the second 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 during the last quarter. Finally, Visionary Asset Management Inc. purchased a new position in E*TRADE Financial in the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 94.14% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “E*TRADE Financial (ETFC) Upgraded by Morgan Stanley to “Overweight”” was first posted by Transcript Daily and is owned by of Transcript Daily. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://transcriptdaily.com/2018/01/05/etrade-financial-etfc-upgraded-by-morgan-stanley-to-overweight.html.
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.
Receive News & Ratings for E*TRADE Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E*TRADE Financial and related companies with MarketBeat.com's FREE daily email newsletter.