On April 19, 2016 TD Ameritrade Holding Corporation (AMTD) has released results for the second quarter of fiscal 2016. The Company gathered approximately $14 billion in net new client assets, and reported record client trading activity.
The Company’s results for the quarter ended Mar. 31, 2016 include the following:
- $0.38 earnings per diluted share, on net income of $205 million, up 9 percent year over year
- Net new client assets of approximately $14 billion, an annualized growth rate of 8 percent
- Record average client trades per day of approximately 509,000, an activity rate of 7.6 percent
- Record net revenues of $846 million, 56 percent of which were asset-based
- Investment product fee revenue of $88 million, up 4 percent year over year
- Pre-tax income of $330 million, or 39 percent of net revenues
- EBITDA of $387 million, or 46 percent of net revenues
- Record interest rate-sensitive assets of $112 billion, up 11 percent year over year
- Record client assets of $711 billion, up 2 percent year over year
“We continue to execute well, resulting in solid quarterly performances for each of our major revenue streams,” said Fred Tomczyk, chief executive officer. “Over what was a volatile quarter for the markets, we gathered $14 billion in net new client assets and helped our clients place a record 509,000 trades per day, on average. Our focus for the rest of fiscal 2016 will be maintaining our momentum, our CEO transition, aligning our business model with the Department of Labor Fiduciary Rule, and of course continued investments in our business.”
“Client cash balances grew again this quarter, driven by asset gathering efforts and the ongoing shift in investor sentiment. As a result, interest rate-sensitive assets increased to a record $112 billion,” said Steve Boyle, executive vice president and chief financial officer. “Expenses remain in check, with operating expenses declining 1 percent from last year, and we returned $322 million in capital to our shareholders through cash dividends and share repurchases. We will continue to focus on what we can control to grow our earnings power to the benefit of our clients, associates and shareholders.”
TD Ameritrade Holding Corporation earnings per share showed an increasing trend of 4.6% for the current fiscal year. The company’s expected EPS growth rate for next fiscal year is 175%.Analysts project EPS growth over the next 5 years at 13.65%. It has EPS annual growth over the past 5 fiscal years of 8.2% when sales grew 4.8. It reported -47.9% sales drop, and -47.6% EPS decline in the last quarter.
The stock is trading at $32.67, up 32.05% from 52-week low of $24.88. The stock trades down -14.6% from its peak of $39.05 and 2.33% above the consensus price target of $33.43. Its volume clocked up at 2.69 million shares which is lower than the average volume of 2.95 million shares. Its market capitalization currently stands at $17.17B.
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