E*TRADE Financial (ETFC) Price Target Increased to $61.00 by Analysts at Jefferies Financial Group

E*TRADE Financial (NASDAQ:ETFC) had its price objective lifted by Jefferies Financial Group from $60.00 to $61.00 in a report released on Wednesday. They currently have a buy rating on the financial services provider’s stock. Jefferies Financial Group also issued estimates for E*TRADE Financial’s Q4 2018 earnings at $1.01 EPS, FY2018 earnings at $3.83 EPS, Q1 2019 earnings at $0.92 EPS, Q2 2019 earnings at $1.06 EPS, Q3 2019 earnings at $0.98 EPS, Q4 2019 earnings at $1.14 EPS, FY2019 earnings at $4.10 EPS and FY2020 earnings at $4.47 EPS.

ETFC has been the topic of a number of other reports. BidaskClub upgraded shares of E*TRADE Financial from a sell rating to a hold rating in a report on Saturday, August 18th. Zacks Investment Research downgraded shares of E*TRADE Financial from a buy rating to a hold rating in a report on Tuesday, July 17th. Wells Fargo & Co restated a buy rating on shares of E*TRADE Financial in a report on Wednesday, July 11th. Morgan Stanley boosted their target price on shares of E*TRADE Financial from $74.00 to $78.00 and gave the stock an overweight rating in a report on Thursday, July 12th. Finally, Credit Suisse Group lowered their target price on shares of E*TRADE Financial from $79.00 to $77.00 and set an outperform rating on the stock in a report on Friday, July 20th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. E*TRADE Financial presently has an average rating of Buy and an average target price of $65.00.

Shares of ETFC stock traded up $0.61 during trading on Wednesday, reaching $51.11. The company’s stock had a trading volume of 3,940,099 shares, compared to its average volume of 3,998,851. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.49 billion, a PE ratio of 23.34, a P/E/G ratio of 0.80 and a beta of 1.09. E*TRADE Financial has a one year low of $42.56 and a one year high of $66.46.

E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.17. The business had revenue of $720.00 million for the quarter, compared to analyst estimates of $710.62 million. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, equities analysts predict that E*TRADE Financial will post 3.77 earnings per share for the current fiscal year.

E*TRADE Financial declared that its board has approved a stock buyback plan on Thursday, October 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th will be issued a $0.14 dividend. The ex-dividend date is Monday, October 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.10%. E*TRADE Financial’s dividend payout ratio is currently 25.57%.

Several large investors have recently added to or reduced their stakes in ETFC. Parallel Advisors LLC increased its holdings in shares of E*TRADE Financial by 362.5% in the second 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 last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of E*TRADE Financial in the third quarter valued at $102,000. Nisa Investment Advisors LLC acquired a new position in shares of E*TRADE Financial in the second quarter valued at $119,000. Qube Research & Technologies Ltd acquired a new position in shares of E*TRADE Financial in the second quarter valued at $128,000. Finally, NewSquare Capital LLC acquired a new position in shares of E*TRADE Financial in the second quarter valued at $163,000. Hedge funds and other institutional investors own 91.15% of the company’s stock.

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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