Nomura Securities Maintains a 'Buy' on E*TRADE (ETFC); Mortgage Delinquencies No Longer an Outlier
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Price: $49.26 --0%
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on E*TRADE (NASDAQ: ETFC) price target of $10.00.
Nomura analyst says, "When E*TRADE reported its November loan delinquency data on December 14, investors reacted negatively (ETFC declined 5% that day, while the S&P 500 declined 1%) to the increase in 30-89 day delinquency rates (one- to four-family loans +28bp, home equity loans +20bp). When E*TRADE reports earnings later this month, we think investors will be very focused on where delinquencies came in at the end of 4Q11.We thought it would be helpful to put E*TRADE’s delinquency trends into context versus U.S. banks and relative to past trends. Our 4Q11E EPS goes to $0.20 from $0.14 to reflect the $43mm credit recovery and $10.8mm litigation expense. Our 2012 and 2013 ests are unchanged."
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 $9.02 yesterday.
Nomura analyst says, "When E*TRADE reported its November loan delinquency data on December 14, investors reacted negatively (ETFC declined 5% that day, while the S&P 500 declined 1%) to the increase in 30-89 day delinquency rates (one- to four-family loans +28bp, home equity loans +20bp). When E*TRADE reports earnings later this month, we think investors will be very focused on where delinquencies came in at the end of 4Q11.We thought it would be helpful to put E*TRADE’s delinquency trends into context versus U.S. banks and relative to past trends. Our 4Q11E EPS goes to $0.20 from $0.14 to reflect the $43mm credit recovery and $10.8mm litigation expense. Our 2012 and 2013 ests are unchanged."
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 $9.02 yesterday.
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