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TheStreet Open House

How Will E*Trade Financial (ETFC) Stock Be Affected By This Coverage?

NEW YORK (TheStreet) -- E*Trade Financial (ETFC) shares had coverage initiated with a "hold" rating and $23 price target by analysts at Deutsche Bank (DB) on Thursday.

Deutsche Bank's price target represents a 0.8% increase from the company's previous closing price.

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In separate news, the financial services company reported a 5% month to month increase in daily average revenue trades during July.

E*Trade shares are flat in pre-market trading today.

TheStreet Ratings team rates E TRADE FINANCIAL CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate E TRADE FINANCIAL CORP (ETFC) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • Powered by its strong earnings growth of 226.31% and other important driving factors, this stock has surged by 40.69% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, ETFC should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • E TRADE FINANCIAL CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, E TRADE FINANCIAL CORP turned its bottom line around by earning $0.29 versus -$0.39 in the prior year. This year, the market expects an improvement in earnings ($1.02 versus $0.29).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Capital Markets industry. The net income increased by 226.8% when compared to the same quarter one year prior, rising from -$54.40 million to $69.00 million.
  • Net operating cash flow has significantly increased by 333.29% to $443.00 million when compared to the same quarter last year. In addition, E TRADE FINANCIAL CORP has also vastly surpassed the industry average cash flow growth rate of -96.17%.
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