Barclays Maintains an 'Equalweight' on E*TRADE (ETFC); Cutting Numbers on Near-Term Challenges

July 23, 2012 4:00 PM EDT Send to a Friend
Get Alerts ETFC Hot Sheet
Price: $22.90 --0%

Rating Summary:
    11 Buy, 6 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 2 | Down: 10 | New: 0
Trade ETFC Now!
Join SI Premium – FREE
Barclays maintains an 'Equalweight' on E*TRADE (NASDAQ: ETFC) price target of $10.00 (from $11.00).

Analyst, Roger A. Freeman, said, E*Trade reported Q2 earnings of $0.14, which topped the Street consensus of $0.11, however, backing out the $0.03-0.04 benefits from one-time tax etc, earnings were more like in-line. Revenues for the quarter were weaker than expected. Non-interest revenues fell short as well. The main positive was credit trends (in loan portfolio). All in, the environment remains challenging and Freeman is cutting estimates for FY12 from $0.54 to $0.44 and FY13 from $0.83 to $0.68.

For an analyst ratings summary and ratings history on E*TRADE click here. For more ratings news on E*TRADE click here.

Shares of E*TRADE closed at $7.39 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Barclays, Earnings

Add Your Comment