TD Ameritrade Holding Corp. (AMTD) Maintains Market Perform Rating; Price Target Lowered
March 18, 2010 11:52 AM
Analysts at Bernstein Research have released an update on TD Ameritrade Holding Corp. (NASDAQ: AMTD).
On Tuesday, TD Ameritrade disclosed that the comparable quarter was “shaping up” to resemble its December quarter EPS of $0.23. The firm also released uninspiring monthly operating metrics, which included trading activity and client asset trends. TD Ameritrade believes that the unfavorable interest rate environment and lower intraday volatility are the main reasons it is facing pressure in this quarter.
Analysts have lowered the 2010 EPS estimate from $1.16 to $1.06 and the 2011 EPS estimate from $1.63 to $1.55 to reflect the sustained weakness in the near-term interest rate environment. The price target has been lowered from $18 to $17.
Analysts at Bernstein Research have maintained their Market Perform rating for TD Ameritrade Holding Corp.
