Zacks Investment Research Downgrades TD Ameritrade Holding Corporation (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 note issued to investors on Monday.
According to Zacks, “Shares of TD Ameritrade have outperformed the industry in the past year. Yet, the company’s earnings surprise history is not that impressive. It surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. We remain cautious of the elevated costs, which are likely to weigh on the financials. However, 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. Also, TD Ameritrade’s steady capital deployment activities and revenue growth are encouraging. Moreover, easing margin pressure is another tailwind.”
Several other research analysts have also issued reports on AMTD. Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.50 price target on shares of TD Ameritrade Holding Corporation in a research report on Friday, July 14th. BidaskClub lowered TD Ameritrade Holding Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Instinet reiterated a “buy” rating and set a $49.00 target price (down from $50.00) on shares of TD Ameritrade Holding Corporation in a report on Thursday, July 13th. Nomura reduced their target price 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. Finally, Rosenblatt Securities assumed coverage on TD Ameritrade Holding Corporation in a report on Thursday, July 13th. They set a “buy” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $44.33.
Shares of TD Ameritrade Holding Corporation (AMTD) traded up 2.09% on Monday, reaching $43.86. The company’s stock had a trading volume of 1,105,796 shares. The stock has a market capitalization of $23.16 billion, a price-to-earnings ratio of 27.41 and a beta of 1.48. The stock has a 50-day moving average of $44.06 and a 200 day moving average of $40.92. TD Ameritrade Holding Corporation has a 52 week low of $31.65 and a 52 week high of $47.41.
TD Ameritrade Holding Corporation (NASDAQ:AMTD) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. TD Ameritrade Holding Corporation had a return on equity of 16.09% and a net margin of 24.01%. The business had revenue of $931 million for the quarter, compared to analyst estimates of $897.98 million. During the same period last year, the company earned $0.45 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. On average, analysts expect that TD Ameritrade Holding Corporation will post $1.68 EPS for the current year.
In related 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 owns 170,000 shares of the company’s stock, valued at $6,876,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in AMTD. Capstone Asset Management Co. increased its position in shares of TD Ameritrade Holding Corporation by 8.7% in the first quarter. Capstone Asset Management Co. now owns 7,097 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 570 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in TD Ameritrade Holding Corporation during the first quarter worth approximately $211,000. Oregon Public Employees Retirement Fund increased its position in TD Ameritrade Holding Corporation by 2.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 30,722 shares of the financial services provider’s stock worth $1,194,000 after buying an additional 700 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in TD Ameritrade Holding Corporation by 2.1% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 11,009 shares of the financial services provider’s stock worth $428,000 after buying an additional 230 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in TD Ameritrade Holding Corporation by 110.2% during the first quarter. Advisors Asset Management Inc. now owns 11,757 shares of the financial services provider’s stock worth $457,000 after buying an additional 6,164 shares during the last quarter. 93.55% of the stock is currently owned by institutional investors and hedge funds.
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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