Nomura Securities Adjusting Estimates and Price Target on E*TRADE (ETFC); Q2 Review
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Price: $12.09 +1.60%
Rating Summary:
3 Buy, 8 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
3 Buy, 8 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade ETFC Now!
Nomura Securities maintains a 'Buy' on E*TRADE (NASDAQ: ETFC) price target of $10.50 (from $11.50).
Analyst, Keith Murray, said, "ETFC reported EPS of $0.14 (closer to $0.10 ex lower tax rate and a reserve release) vs. our/consensus estimates of $0.11. E*TRADE posted OK results with revenues hurt by slow trading as the retail investor remained cautious and net interest income continued to slip, though the NIM declined less than we anticipated given a 14% sequential increase in high-yielding margin loans. On a positive note, the brokerage business continued to post solid metrics and the legacy loan book continues to shrink. We still see attractive upside as the loan book shrinks and the costly debt burden could be improved over the next 12 months. 2012E/2013E EPS from $0.57/$0.77 to $0.53/$0.70."
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 $7.82 yesterday, with a 52 week range of $7.39-$16.66.
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Analyst, Keith Murray, said, "ETFC reported EPS of $0.14 (closer to $0.10 ex lower tax rate and a reserve release) vs. our/consensus estimates of $0.11. E*TRADE posted OK results with revenues hurt by slow trading as the retail investor remained cautious and net interest income continued to slip, though the NIM declined less than we anticipated given a 14% sequential increase in high-yielding margin loans. On a positive note, the brokerage business continued to post solid metrics and the legacy loan book continues to shrink. We still see attractive upside as the loan book shrinks and the costly debt burden could be improved over the next 12 months. 2012E/2013E EPS from $0.57/$0.77 to $0.53/$0.70."
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 $7.82 yesterday, with a 52 week range of $7.39-$16.66.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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