Zacks Investment Research Downgrades TD Ameritrade Holding Corporation (NASDAQ:AMTD) to Hold
TD Ameritrade Holding Corporation (NASDAQ:AMTD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “TD Ameritrade has outperformed the industry in the past year. The company’s third-quarter fiscal 2017 results surpassed the Zacks Consensus Estimate. Results reflected increased revenues and eased margin pressure. The company recorded a rise in average client trades per day in the fiscal third quarter with the trend continuing in the first month of the current quarter, indicating trading activity improvement. Further, its deal to acquire Scottrade is likely to be accretive to earnings per share (EPS) in double digits. Though we remain cautious of the elevated costs, which are likely to weigh on the financials, TD Ameritrade’s steady capital deployment activities are encouraging.”
Several other brokerages have also recently issued reports on AMTD. BidaskClub cut TD Ameritrade Holding Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Nomura dropped their price target on TD Ameritrade Holding Corporation from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, July 13th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $46.00 price target (down from $48.00) on shares of TD Ameritrade Holding Corporation in a report on Saturday, April 22nd. Jefferies Group LLC restated a “hold” rating and issued a $39.00 target price on shares of TD Ameritrade Holding Corporation in a research note on Saturday, April 22nd. Finally, Wells Fargo & Company upgraded TD Ameritrade Holding Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, May 15th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $44.47.
TD Ameritrade Holding Corporation (NASDAQ AMTD) traded up 1.3129% during trading on Monday, hitting $44.3953. The stock had a trading volume of 1,191,894 shares. The company has a 50-day moving average of $44.75 and a 200 day moving average of $41.08. The company has a market cap of $23.44 billion, a price-to-earnings ratio of 27.7471 and a beta of 1.48. TD Ameritrade Holding Corporation has a 52 week low of $30.32 and a 52 week high of $47.41.
TD Ameritrade Holding Corporation (NASDAQ:AMTD) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The company had revenue of $931 million during the quarter, compared to the consensus estimate of $897.98 million. TD Ameritrade Holding Corporation had a return on equity of 16.09% and a net margin of 24.01%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. On average, equities research analysts anticipate that TD Ameritrade Holding Corporation will post $1.68 EPS for the current year.
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In other news, Director Joseph H. Moglia sold 10,000 shares of TD Ameritrade Holding Corporation stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $40.45, for a total value of $404,500.00. Following the sale, the director now directly owns 170,000 shares of the company’s stock, valued at $6,876,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.42% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in AMTD. Schwab Charles Investment Management Inc. raised its position in shares of TD Ameritrade Holding Corporation by 3.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 457,856 shares of the financial services provider’s stock valued at $17,793,000 after buying an additional 13,541 shares during the period. Teachers Advisors LLC raised its stake in shares of TD Ameritrade Holding Corporation by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 316,583 shares of the financial services provider’s stock worth $13,803,000 after buying an additional 3,811 shares during the last quarter. BlackRock Inc. raised its stake in shares of TD Ameritrade Holding Corporation by 1,374.1% in the first quarter. BlackRock Inc. now owns 13,534,046 shares of the financial services provider’s stock worth $525,933,000 after buying an additional 12,615,921 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of TD Ameritrade Holding Corporation during the first quarter worth about $583,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of TD Ameritrade Holding Corporation by 571.0% in the first quarter. Canada Pension Plan Investment Board now owns 484,204 shares of the financial services provider’s stock worth $18,816,000 after buying an additional 412,039 shares during the last quarter. Institutional investors and hedge funds own 90.40% of the company’s stock.
About TD Ameritrade Holding Corporation
TD Ameritrade Holding Corporation is a provider of securities brokerage services and related technology-based financial services. The Company provides its services to retail investors, traders and independent registered investment advisors (RIAs). The Company provides its services through the Internet, a national branch network and relationships with RIAs.
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