Nomura Securities Maintains a 'Neutral' on TD Ameritrade (AMTD); F1Q12 Review
Tweet
Share
E-mailGet Alerts AMTD Hot Sheet
Price: $0.76 --0%
Rating Summary:
4 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Nomura Securities maintains a 'Neutral' on TD Ameritrade (NASDAQ: AMTD) price target of $17.00.
Analyst, Keith Murray, said, "AMTD reported EPS of $0.27 vs. our/consensus ests of $0.25/$0.26. The beat was driven by solid expense control and a lower-than-expected 31% tax rate. On the negative side, revenues were softer than expected (-7% sequentially), given continued pressure from low interest rates and soft trading activity as retail investors took a breather given macro uncertainty and the holidays. AMTD again showed its high degree of capital flexibility, posting a 92% combined payout ratio in F1Q12 (repurchased 6.7mm shares). “Normalized” earnings power continues to build. Unfortunately, spread-based revenues remain pressured by declining net interest margins, and trading activity is off to a slow start in F2012. We remain Neutral on the shares given pressure from low interest rates and a flatter yield curve combining with sluggish trading activity to largely offset the benefit of continued strong organic growth."
For an analyst ratings summary and ratings history on TD Ameritrade click here. For more ratings news on TD Ameritrade click here.
Shares of TD Ameritrade closed at $16.01 yesterday.
Analyst, Keith Murray, said, "AMTD reported EPS of $0.27 vs. our/consensus ests of $0.25/$0.26. The beat was driven by solid expense control and a lower-than-expected 31% tax rate. On the negative side, revenues were softer than expected (-7% sequentially), given continued pressure from low interest rates and soft trading activity as retail investors took a breather given macro uncertainty and the holidays. AMTD again showed its high degree of capital flexibility, posting a 92% combined payout ratio in F1Q12 (repurchased 6.7mm shares). “Normalized” earnings power continues to build. Unfortunately, spread-based revenues remain pressured by declining net interest margins, and trading activity is off to a slow start in F2012. We remain Neutral on the shares given pressure from low interest rates and a flatter yield curve combining with sluggish trading activity to largely offset the benefit of continued strong organic growth."
For an analyst ratings summary and ratings history on TD Ameritrade click here. For more ratings news on TD Ameritrade click here.
Shares of TD Ameritrade closed at $16.01 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
- Cisco rating cut at HSBC as analyst sees a lack of catalysts
- Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Nomura, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
