Nomura Securities Maintains a 'Buy' on E*TRADE (ETFC); Q1 Review
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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 $13.00.
Analyst, Keith Murray, said, "ETFC reported EPS of $0.13 ex tax benefit vs. our/Street ests of $0.10. E*TRADE posted solid brokerage trends with $4bn of net new money, a 12% sequential increase in DARTs, 46k new accounts, and attrition was at a record low of 8.7%. However, Despite the improving loan book trends, E*TRADE Bank’s leverage ratio declined 50bp q/q, given growth in brokerage cash balances. We believe Management is now focused on E*TRADE Bank’s leverage ratio and is doing what it can in a difficult backdrop. Reiterate our Buy call. We tweaked our 2012 EPS estimate to $0.63 from $0.60, but our price target remains $50 (13x our 2013E EPS of $0.98)."
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 $9.88 yesterday.
Analyst, Keith Murray, said, "ETFC reported EPS of $0.13 ex tax benefit vs. our/Street ests of $0.10. E*TRADE posted solid brokerage trends with $4bn of net new money, a 12% sequential increase in DARTs, 46k new accounts, and attrition was at a record low of 8.7%. However, Despite the improving loan book trends, E*TRADE Bank’s leverage ratio declined 50bp q/q, given growth in brokerage cash balances. We believe Management is now focused on E*TRADE Bank’s leverage ratio and is doing what it can in a difficult backdrop. Reiterate our Buy call. We tweaked our 2012 EPS estimate to $0.63 from $0.60, but our price target remains $50 (13x our 2013E EPS of $0.98)."
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 $9.88 yesterday.
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