Morgan Stanley Cuts E*TRADE Financial (NASDAQ:ETFC) Price Target to $55.00

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E*TRADE Financial (NASDAQ:ETFC) had its price objective cut by Morgan Stanley from $61.00 to $55.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other research firms have also recently commented on ETFC. Zacks Investment Research cut shares of Hammerson from a hold rating to a sell rating in a research report on Friday, May 24th. BidaskClub cut shares of Zebra Technologies from a hold rating to a sell rating in a research report on Friday, May 24th. Finally, Compass Point set a $52.00 target price on shares of E*TRADE Financial and gave the stock a buy rating in a research report on Tuesday, July 2nd. Two equities 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 company. The stock has a consensus rating of Buy and an average target price of $57.42.

Shares of NASDAQ:ETFC opened at $45.75 on Thursday. 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 fifty-two week low of $40.41 and a fifty-two week high of $63.39. The firm’s 50-day simple moving average is $45.68. The company has a market cap of $11.19 billion, a P/E ratio of 11.16, a PEG ratio of 0.97 and a beta of 1.15.

E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.16. E*TRADE Financial had a net margin of 37.50% and a return on equity of 18.06%. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $738.04 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts expect that E*TRADE Financial will post 4.3 earnings per share for the current fiscal year.

In other news, Director Rodger A. Lawson sold 41,322 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.13, for a total value of $1,988,827.86. Following the completion of the sale, the director now directly owns 114,753 shares of the company’s stock, valued at approximately $5,523,061.89. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Large investors have recently modified their holdings of the company. Clark Capital Management Group Inc. lifted its stake in E*TRADE Financial by 2,066.6% during the second quarter. Clark Capital Management Group Inc. now owns 398,910 shares of the financial services provider’s stock valued at $17,791,000 after purchasing an additional 380,498 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in E*TRADE Financial by 9.8% during the second quarter. Xact Kapitalforvaltning AB now owns 43,304 shares of the financial services provider’s stock valued at $1,931,000 after purchasing an additional 3,869 shares during the last quarter. Tributary Capital Management LLC lifted its stake in E*TRADE Financial by 51.0% during the second quarter. Tributary Capital Management LLC now owns 22,200 shares of the financial services provider’s stock valued at $990,000 after purchasing an additional 7,500 shares during the last quarter. Pensionfund Sabic acquired a new stake in E*TRADE Financial during the second quarter valued at approximately $1,472,000. Finally, Pensionfund DSM Netherlands acquired a new stake in E*TRADE Financial during the second quarter valued at approximately $2,141,000. 91.43% of the stock is owned by institutional investors.

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

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