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US earnings season: Market volatility gains expected to bypass TD Ameritrade

America’s’ leading retail online trading broker is expected to post revenues of $1.41bn, down 3% from the year-ago quarter on Wednesday, despite volatile markets due to the coronavirus, which normally boost trading volumes and fees.

The business, led by chief executive Steve Boyle (pictured), is expected to post second-quarter earnings of $0.87 per share in its upcoming report, which represents a year-over-year fall of 6.5%.

Ahead of the results, Barclays analyst Jeremy Campbell maintained a hold rating on TD Ameritrade stock (AMTD) last week, setting a price target of $38.00. The company’s shares closed on Friday at $36.04.

The financial services provider reported $0.74 earnings per share for the first quarter of 2020, missing analysts’ consensus estimates of $0.77 by ($0.03). Over the last two years, TD Ameritrade has beaten earnings per share estimates 75% of the time and has beaten revenue estimates 88% of the time, giving investors something to hope for later this week.

Ameritrade Stock Price Movement

TD Ameritrade had a net margin of 34.26% and a return on equity of 24.24% in January. The firm had revenue of $1.29bn for the first quarter, compared to analysts’ expectations of $1.3bn. During the same period in the prior year, the company posted $1.11 earnings per share and remains one of the few US companies that continue to pay out dividends. TD Ameritrade’s revenue for the first quarter was down 14.8% compared to the same quarter last year.

The company expects a fall in revenue in the second quarter but estimates that it won’t be as severe as analysts predict. While the company can be, and is, affected by changing market conditions and the economic implications from the global pandemic, it is also largely substantiated by the $2.62bn revenue of financial services giant Charles Schwab, which bought TD Ameritrade for $26bn in November.

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Galina Mikova

Galina is a Hubspot-certified Technical Writer with over 10 years of experience in working with Fortune 500, private investment, banking, FOREX and niche tech companies as well as crypto and blockchain startups. She has a solid background in FinTech and blockchain technology.