The Toronto-Dominion Bank Forecasted to Post Q4 2024 Earnings of $1.33 Per Share (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Equities researchers at Desjardins reduced their Q4 2024 earnings per share estimates for shares of Toronto-Dominion Bank in a note issued to investors on Thursday, October 10th. Desjardins analyst D. Young now anticipates that the bank will earn $1.33 per share for the quarter, down from their prior forecast of $1.36. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.84 per share. Desjardins also issued estimates for Toronto-Dominion Bank’s FY2025 earnings at $5.96 EPS.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. Toronto-Dominion Bank’s quarterly revenue was up 9.8% on a year-over-year basis.

Other research analysts have also issued reports about the company. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. UBS Group started coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Trading Down 4.1 %

Shares of TD opened at $57.01 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $99.68 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.73 and a beta of 0.81. The stock’s fifty day simple moving average is $60.64 and its 200 day simple moving average is $58.15. Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $65.12.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 96.49%.

Institutional Trading of Toronto-Dominion Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning grew its stake in shares of Toronto-Dominion Bank by 9.8% during the third quarter. Creative Planning now owns 144,251 shares of the bank’s stock valued at $9,125,000 after purchasing an additional 12,879 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Toronto-Dominion Bank during the third quarter valued at approximately $222,000. Fiduciary Financial Group LLC bought a new stake in shares of Toronto-Dominion Bank during the third quarter valued at approximately $211,000. Successful Portfolios LLC bought a new stake in shares of Toronto-Dominion Bank during the third quarter valued at approximately $209,000. Finally, Hexagon Capital Partners LLC lifted its holdings in Toronto-Dominion Bank by 18.5% in the third quarter. Hexagon Capital Partners LLC now owns 1,337 shares of the bank’s stock valued at $85,000 after buying an additional 209 shares during the period. Institutional investors own 52.37% of the company’s stock.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.