) crafted a new 52-week high, touching $19.55 at the beginning of
the trading session on Dec 26. However, this investment broker
closed the session at $19.46, which reflects a solid year-to-date
return of 111.8%. The trading volume for the session was 1.61
Despite hitting its 52-week high, this Zacks Rank #2 (Buy) stock
has plenty of upside left, given its strong estimate revisions
over the last 60 days and expected year-over-year earnings growth
Rise in total daily average revenue trades (DARTs) for the month
of November and impressive third-quarter 2013 results - including
year-over-year earnings growth and decreased expenses - as well
as a strong capital position were the primary growth drivers for
On Dec 18, E*TRADE reported an upsurge in its DARTs for Nov 2013.
According to the monthly market activity report for November,
E*TRADE's DARTs were 163,411, up 2% from Oct 2013. Moreover,
DARTs increased 26% on a year-over-year basis.
E*TRADE reported its third-quarter 2013 earnings of 16 cents per
share on Oct 23, improving significantly from a net loss of 10
cents per share in the prior-year quarter. However, results were
in line with the Zacks Consensus Estimate.
A year-over-year decrease of 7.8% in core operating expenses and
13.0% rise in DARTs were the tailwinds for the quarter. Moreover,
the company's capital ratios depict its strong position. However,
a 14.9% fall in net revenue acted as the headwind for the
Estimate Revisions Show Potency
Over the last 7 days, the Zacks Consensus Estimate for 2013
remained stable at 68 cents per share. For 2014, the Zacks
Consensus Estimate advanced 1.2% to 83 cents per share.
Other investment brokers worth considering include
Ladenburg Thalmann Financial Services Inc.
) with a Zacks Rank #1 (Strong Buy), while
Evercore Partners Inc.
Greenhill & Co., Inc.
) carry a Zacks Rank #2.
E TRADE FINL CP (ETFC): Free Stock Analysis
EVERCORE PARTNR (EVR): Free Stock Analysis
GREENHILL & CO (GHL): Free Stock Analysis
LADENBURG THALM (LTS): Free Stock Analysis
To read this article on Zacks.com click here.