TD Ameritrade Holding Corporation (AMTD) Announces Quarterly Earnings Results
TD Ameritrade Holding Corporation (NASDAQ:AMTD) released its quarterly earnings results on Tuesday. The financial services provider reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.03, Bloomberg Earnings reports. The firm had revenue of $983.00 million for the quarter, compared to analysts’ expectations of $958.57 million. TD Ameritrade Holding Corporation had a net margin of 24.01% and a return on equity of 16.09%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. TD Ameritrade Holding Corporation updated its FY18 guidance to $2.10-$2.50 EPS.
TD Ameritrade Holding Corporation (AMTD) traded up 1.27% during mid-day trading on Tuesday, hitting $48.75. 940,887 shares of the company traded hands. The firm has a market capitalization of $25.75 billion, a P/E ratio of 30.47 and a beta of 1.55. TD Ameritrade Holding Corporation has a one year low of $33.26 and a one year high of $50.72. The firm has a 50 day moving average of $46.80 and a 200 day moving average of $42.69.
In other news, major shareholder Luxembourg International Ho Td bought 11,074,197 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were acquired at an average price of $36.12 per share, with a total value of $399,999,995.64. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph H. Moglia sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $44.66, for a total transaction of $669,900.00. Following the sale, the director now directly owns 155,000 shares in the company, valued at approximately $6,922,300. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
Several research analysts have weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $46.00 price target on shares of TD Ameritrade Holding Corporation in a report on Friday, October 6th. Morgan Stanley increased their price target on shares of TD Ameritrade Holding Corporation from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $53.00 price target on shares of TD Ameritrade Holding Corporation in a report on Tuesday, October 3rd. Zacks Investment Research raised shares of TD Ameritrade Holding Corporation from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a report on Tuesday, October 3rd. Finally, BidaskClub raised shares of TD Ameritrade Holding Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $48.86.
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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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