The Toronto-Dominion Bank to Post Q3 2024 Earnings of $1.50 Per Share, Cormark Forecasts (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Investment analysts at Cormark issued their Q3 2024 earnings estimates for Toronto-Dominion Bank in a note issued to investors on Tuesday, August 20th. Cormark analyst L. Persaud forecasts that the bank will post earnings of $1.50 per share for the quarter. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.87 per share. Cormark also issued estimates for Toronto-Dominion Bank’s FY2025 earnings at $6.10 EPS.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.56. The company had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $1.48 earnings per share.

TD has been the subject of several other research reports. BMO Capital Markets lowered their price objective on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. Cibc World Mkts raised shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. UBS Group assumed coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $88.00.

Toronto-Dominion Bank Trading Up 1.5 %

TD opened at $59.34 on Friday. The firm’s fifty day moving average is $56.81 and its two-hundred day moving average is $57.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $103.69 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82. Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $65.12.

Institutional Trading of Toronto-Dominion Bank

Hedge funds have recently modified their holdings of the stock. Mather Group LLC. acquired a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth about $29,000. LifeSteps Financial Inc. acquired a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth about $30,000. Triad Wealth Partners LLC acquired a new stake in shares of Toronto-Dominion Bank during the 2nd quarter worth about $31,000. Bank of New Hampshire acquired a new stake in Toronto-Dominion Bank in the 4th quarter worth about $32,000. Finally, Blue Trust Inc. raised its stake in Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 67.73%.

Toronto-Dominion Bank Company Profile

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.