FY2024 Earnings Forecast for The Toronto-Dominion Bank Issued By National Bank Financial (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Equities research analysts at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for Toronto-Dominion Bank in a research note issued to investors on Thursday, August 22nd. National Bank Financial analyst G. Dechaine now anticipates that the bank will post earnings of $5.76 per share for the year, down from their prior forecast of $5.78. National Bank Financial has a “Sector Perform” rating on the stock. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.89 per share. National Bank Financial also issued estimates for Toronto-Dominion Bank’s Q4 2024 earnings at $1.31 EPS.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.27% 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 last year, the business posted $1.48 EPS. Toronto-Dominion Bank’s revenue was up 9.8% on a year-over-year basis.

Several other research firms have also recently weighed in on TD. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. BMO Capital Markets lowered their price target on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research note on Friday, May 24th. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Finally, UBS Group started coverage on Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Trading Down 0.3 %

NYSE:TD opened at $59.18 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The stock’s 50-day moving average is $56.91 and its two-hundred day moving average is $57.65. The stock has a market cap of $103.46 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.74 and a beta of 0.82.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.739 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a yield of 4.99%. Toronto-Dominion Bank’s payout ratio is currently 67.73%.

Institutional Investors Weigh In On Toronto-Dominion Bank

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Toronto-Dominion Bank by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,044,900 shares of the bank’s stock worth $132,141,000 after buying an additional 130,801 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its holdings in shares of Toronto-Dominion Bank by 2.7% during the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,388,528 shares of the bank’s stock worth $83,881,000 after buying an additional 37,002 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Toronto-Dominion Bank during the first quarter worth approximately $6,454,000. FORA Capital LLC acquired a new position in shares of Toronto-Dominion Bank in the first quarter valued at $4,025,000. Finally, V Square Quantitative Management LLC raised its stake in shares of Toronto-Dominion Bank by 5,032.5% in the fourth quarter. V Square Quantitative Management LLC now owns 15,808 shares of the bank’s stock valued at $1,022,000 after purchasing an additional 15,500 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

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.