Desjardins Expects Lower Earnings for Toronto-Dominion Bank

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Analysts at Desjardins lowered their Q4 2024 EPS estimates for shares of Toronto-Dominion Bank in a research note issued on Friday, November 1st. Desjardins analyst D. Young now expects that the bank will earn $1.28 per share for the quarter, down from their prior estimate of $1.33. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.82 per share.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (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 business had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. Toronto-Dominion Bank’s quarterly revenue was up 9.8% on a year-over-year basis.

Several other equities analysts have also issued reports on the company. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Royal Bank of Canada cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Stock Performance

Shares of NYSE:TD opened at $55.03 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a market cap of $96.22 billion, a PE ratio of 17.58, a PEG ratio of 1.62 and a beta of 0.82. The company’s 50 day moving average price is $60.06 and its two-hundred day moving average price is $57.89. Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12.

Institutional Trading of Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Toronto-Dominion Bank by 61.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock worth $319,151,000 after buying an additional 2,215,185 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Toronto-Dominion Bank by 31.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,102,035 shares of the bank’s stock worth $549,550,000 after purchasing an additional 2,188,263 shares in the last quarter. National Bank of Canada FI increased its position in shares of Toronto-Dominion Bank by 6.2% during the first quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock valued at $1,677,917,000 after acquiring an additional 1,736,931 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Toronto-Dominion Bank by 6.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after purchasing an additional 1,462,794 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Toronto-Dominion Bank by 17.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 8,175,457 shares of the bank’s stock worth $493,880,000 after buying an additional 1,238,502 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 96.17%.

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.