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AMTD

TD Ameritrade

$44.78

-0.23 (-0.51%)

09:56
07/18/17
07/18
09:56
07/18/17
09:56

TD Ameritrade climbs after results beat estimates

Shares of TD Ameritrade (AMTD) rose on Tuesday morning after quarterly results handily beat analysts' estimates. EARNINGS: TD Ameritrade reported third quarter earnings per share of 44c, a decline from 45c in the year-ago period but beating analysts' estimates of 41c per share. Revenue for the quarter was $931M, exceeding analysts' estimates of $897.81M and the $838M it reported last year. The company's quarterly results include record net new client assets of approximately $22B, an annualized growth rate of 10%. Average client trades per day were approximately 510,000, up 10% year over year. EXECUTIVE COMMENTARY: In a statement, President and Chief Executive Officer Tim Hockey commented that investors "remained broadly engaged, with strong trading volumes despite persistent low market volatility" and that the company is seeing "healthy trends in new account growth and asset inflows from both new and existing clients, and our institutional channel continues to break records for asset gathering." Hockey also noted that the company has "a lot to feel good about, but as we plan for the close of the Scottrade acquisition on the horizon, we have much more yet to do." On its earnings conference call, Chief Financial Officer Steve Boyle said the company expects the Scottrade acquisition to close in the September quarter. Boyle said the company anticipates including Scottrade-related assumptions in annual guidance that will be released with its October call, which will include "a more definitive view" on the benefit of interest rates. Management did not update its fiscal 2017 EPS guidance; the company had previously forecast EPS of $1.50-$1.80 and analysts currently expect $1.64. WHAT'S NOTABLE: Ahead of the company's earnings report, Rosenblatt analyst Chris Allen initiated TD Ameritrade with a Buy and a $50 price target saying the combination of the Scottrade acquisition, strong organic growth trends and higher rates will result in best in class earnings over the next three years. PRICE ACTION: TD Ameritrade is up 2.3% to $45.81 in early trading.

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AMTD TD Ameritrade
$44.78

-0.23 (-0.51%)

07/13/17
07/13/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. HP Inc. (HPQ), 3D Systems (DDD), and Stratasys (SSYS) were initiated with a Neutral at Susquehanna. 2. Danaher (DHR) initiated with a Market Perform at Wells Fargo. 3. E-Trade (ETFC) and TD Ameritrade (AMTD) were initiated with a Buy at Rosenblatt, while Charles Schwab (SCHW) was initiated with a Neutral. 4. C&J Energy Services (CJ) initiated with a Buy at Jefferies. 5. BIO-key (BKYI) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/13/17
RSBL
07/13/17
INITIATION
Target $50
RSBL
Buy
TD Ameritrade initiated with a Buy at Rosenblatt
Rosenblatt analyst Chris Allen initiated TD Ameritrade with a Buy and a $50 price target saying the combination of the Scottrade acquisition, strong organic growth trends, and higher rates will result in best in class earnings over the next three years.
05/15/17
WELS
05/15/17
UPGRADE
Target $44
WELS
Outperform
TD Ameritrade upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Christopher Harris upgraded TD Ameritrade to Outperform saying the Scottrade acquisition has the potential to turn the company into a "beat and raise" earnings story throughout FY18. The analyst does not expect near-term commission cuts. He raised his price target for the shares to $44 from $41.
04/06/17
BUCK
04/06/17
UPGRADE
Target $48
BUCK
Buy
TD Ameritrade upgraded to Buy due to valuation at Buckingham
Buckingham upgraded TD Ameritrade to Buy from Neutral with a $48 price target citing the recent pullback in shares. The firm's analyst said valuation represents a positive risk/reward given 20-25% earnings growth in 2018/2019 due to the impact of higher rates, the Scott deal and strong underlying fundamentals.

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