TD Ameritrade just released their earnings report and it’s exactly what we thought it would be: BLOCKBUSTER!
TD Ameritrade announced quarterly earnings on January 22, 2018. The company reported EPS of $0.61 versus the $0.44 estimate. Crushed it! Earnings growth year-over-year is up an incredible 97.8%! The company said its bottom line advanced to $455 million, or $0.80 per share. This was higher than $230 million, or $0.43 per share, in last year’s first quarter.
Revenue also beat coming in at $1.26 billion for the quarter versus the $1.20 billion estimate. TD Ameritrade’s revenue was up an eye-popping 46.3% year-over-year!
The catalyst for TD Ameritrade is that hordes of people are coming off the sidelines and getting into the stock market as incomes slowly improve. The 8-year bull run and the excitement around the most business friendly Administration in US history is causing more and more people to open trading accounts. Nobody wants to miss the gravy-train.
TD Ameritrade Rolls Out 24-Hour Trading
TD Ameritrade also announced that it is starting 24-hour trading for the following ETFs:
TD Ameritrade is targeting traders who want to trade on equity markets all through the day and night. The company said that their new 24-hour trading platform will allow U.S. investors to trade at night, while also letting Chinese investors trade during their day.
I have no idea how this is going to work and how liquid these markets will be in what has traditionally been “after-hours” trading.
TD Ameritrade has clearly captured first-mover advantage over other online trading firms who now must scramble to catch up.
TD Ameritrade Stock
Notice the bullish pocket pivot signal (blue dot) that occurred today on the earnings and revenue beats.
Where do I see this going as far as my price target? Over the next 15 weeks up until the Sell in May and Go Away trade, I think TD Ameritrade stock can go up another 26% to around $69.80.
What caught my attention about TD Ameritrade is explained here in a detailed research report.
The stock is already up 12.39% since I pushed it out to Premium members on November 13, 2017. I think this stock has more room to run but I don’t recommend entering a new position right now.
Taking a new position in TD Ameritrade stock would mean that you are chasing it higher. Instead, you should wait for a consolidation pattern before taking a new long position IMO.
TD Ameritrade is one of the stocks listed in my 9 Best Stocks To Own Now report. Get your copy of the free report now.