Brokerages expect TD Ameritrade Holding Corp. (NASDAQ:AMTD) to announce sales of $1.28 billion for the current quarter, according to . Three analysts have made estimates for TD Ameritrade’s earnings, with the highest sales estimate coming in at $1.32 billion and the lowest estimate coming in at $1.26 billion. TD Ameritrade reported sales of $1.52 billion during the same quarter last year, which indicates a negative year over year growth rate of 15.8%. The business is scheduled to announce its next quarterly earnings results on Tuesday, January 28th.
According to Zacks, analysts expect that TD Ameritrade will report full-year sales of $5.06 billion for the current financial year, with estimates ranging from $5.00 billion to $5.12 billion. For the next financial year, analysts expect that the firm will report sales of $5.18 billion, with estimates ranging from $5.16 billion to $5.21 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover TD Ameritrade.
TD Ameritrade (NASDAQ:AMTD) last issued its earnings results on Monday, October 21st. The financial services provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.08. TD Ameritrade had a net margin of 36.72% and a return on equity of 27.18%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the stock. Citigroup raised shares of TD Ameritrade from a “sell” rating to a “neutral” rating and upped their target price for the company from $31.00 to $53.00 in a report on Tuesday, November 26th. Morgan Stanley lifted their price target on TD Ameritrade from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Deutsche Bank boosted their price target on TD Ameritrade from $34.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. They noted that the move was a valuation call. Gabelli lowered TD Ameritrade from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, Bank of America cut TD Ameritrade from a “buy” rating to an “underperform” rating and cut their price objective for the company from $57.00 to $39.00 in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. TD Ameritrade presently has an average rating of “Hold” and a consensus price target of $46.30.
In other news, EVP Steven M. Quirk sold 24,043 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $53.46, for a total transaction of $1,285,338.78. Following the completion of the sale, the executive vice president now owns 101,120 shares in the company, valued at $5,405,875.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph H. Moglia sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.37, for a total value of $785,550.00. Following the sale, the director now owns 113,661 shares of the company’s stock, valued at approximately $5,952,426.57. The disclosure for this sale can be found here. Insiders have sold a total of 74,464 shares of company stock valued at $3,917,498 in the last ninety days. 0.44% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of TD Ameritrade by 39.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 20,723,554 shares of the financial services provider’s stock worth $967,790,000 after buying an additional 5,866,463 shares in the last quarter. Renaissance Technologies LLC increased its position in TD Ameritrade by 235.7% during the second quarter. Renaissance Technologies LLC now owns 1,624,326 shares of the financial services provider’s stock worth $81,086,000 after acquiring an additional 1,140,400 shares during the period. Nuveen Asset Management LLC raised its stake in TD Ameritrade by 568.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,050,200 shares of the financial services provider’s stock worth $52,426,000 after purchasing an additional 893,039 shares in the last quarter. BlackRock Inc. raised its stake in TD Ameritrade by 3.9% in the 2nd quarter. BlackRock Inc. now owns 15,746,356 shares of the financial services provider’s stock worth $786,060,000 after purchasing an additional 590,634 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in TD Ameritrade by 9.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,159,469 shares of the financial services provider’s stock valued at $255,860,000 after purchasing an additional 455,002 shares during the period. Institutional investors own 91.62% of the company’s stock.
TD Ameritrade Company Profile
TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors and traders, and independent registered investment advisors (RIAs) in the United States. It offers trade execution, clearing, and margin lending services; futures and foreign exchange trade execution services; and trustee, custodial, and other trust-related services to retirement plans and other custodial accounts, as well as provides cash sweep and deposit account products through third-party relationships.
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