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InvestorGuide Stock Analysis

Will Housing Rebound be Fast Enough to Rescue E*Trade?
Excerpt from the InvestorGuide.com Stock of the Day on 6/10/2009

E*Trade was one of the first in the financial sector to really feel the brunt of the credit crisis. In late 2007, the online broker was on the verge of collapsing due to the huge mortgage exposure on its books and was rescued by a $1.75 billion cash infusion from Citadel, the Chicago-based hedge fund. Somewhat surprisingly, the core business of online trading, minus a couple of hiccups, continued to thrive despite the parent company's troubles (no doubt thanks in part due to those 'baby' commercials which have caught on) and that led many to believe that E*Trade would eventually earn its way out of its troubles. Now that investing thesis is coming under severe pressure and here's why.

Since the market bottom in early March (and at this point, it's pretty safe to say that we will not be re-testing those lows again), the financial stocks have been on a tear. E*Trade was one of the beneficiaries of that enthusiasm. The stock was at $0.59 on March 9 (an all-time low) but the subsequent run-up took it all the way to $2.58 on April 17. So it experienced a 337% gain in just about 5 weeks. However, things toughened up once E*Trade announced its Q1 earnings in late April - it reported a loss of 41 cents a share, a penny more than expected - but more importantly, it announced that it had been asked to raise more capital by its primary regulator - the Office of Thrift Supervision. So E*Trade announced a $150 million equity capital raising plan. Also, E*Trade was asked by the regulator to make the brokerage business a subsidiary of its banking operations (previously, the two were functioning independently under the umbrella of the holding company). More >

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E*TRADE Considers Merge with Ameritrade
Excerpt from the InvestorGuide.com Stock of the Day on 8/23/2007

A merger of the largest investment brokerages has been discussed for quite a while, although mostly in a hypothetical, "what if" kind of manner. No one had any reason to believe that companies such as Charles Schwab (SCHW: Charts, News, Offers), E*TRADE (ETFC: Charts, News, Offers) or TD Ameritrade (AMTD: Charts, News, Offers) were even close to considering a merge, but many wondered what the outcome would be if it were to happen. Yesterday, however, the latter two companies were announced to be in merger discussions, and the speculation continued, in earnest this time. What could possibly result from a merge of two of the largest investment brokerages? Could this merge possibly be beneficial for all of the involved parties; E*TRADE and Ameritrade, their shareholders, and their customers? More >

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Morningstar Analysis for E*TRADE Financial

E*TRADE Financial (ETFC) Upgrades

Date
Analyst
Old Rating
New Rating
11/03/2009
Raymond James
Underperform
Market Perform
09/18/2009
Goldman Sachs
Neutral
Buy
07/24/2009
Citi
Sell
Hold
06/29/2009
Sandler O'Neill
Hold
Buy
06/24/2009
Following the completition of its 65 million share equity offeri
Underperform
Market Perform

E*TRADE Financial (ETFC) Downgrades

Date
Analyst
Old Rating
New Rating
09/17/2009
Raymond James
Market Perform
Underperform
04/29/2009
Fox-Pitt Kelton
In Line
Underperform
04/29/2009
Friedman Billings Ramsey
Market Perform
Underperform
12/03/2007
Banc of America
Neutral
Sell
11/12/2007
Citigroup
Hold
Sell
08/22/2007
UBS
Buy
Neutral

E*TRADE Financial (ETFC) New Coverage

Date
Analyst
Rating
03/12/2009
Citi
Sell
03/19/2008
Raymond James
Market Perform
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Competitor Analysis

TD Ameritrade Holding
Interactive Brokers Group
TradeStation Group
optionsXpress Holdings
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