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

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Equities research analysts at Desjardins dropped their Q4 2024 earnings per share estimates for shares of Toronto-Dominion Bank in a research note issued 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 previous 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 quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter last year, the firm earned $1.48 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year.

A number of other equities analysts also recently issued reports on the company. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Royal Bank of Canada downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. UBS Group began coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. Finally, National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus target price of $84.00.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD opened at $56.33 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $98.43 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.81. The business has a 50-day simple moving average of $60.66 and a two-hundred day simple moving average of $58.10. Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Creative Planning boosted its stake in Toronto-Dominion Bank by 9.8% during the third quarter. Creative Planning now owns 144,251 shares of the bank’s stock worth $9,125,000 after buying an additional 12,879 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Toronto-Dominion Bank in the 3rd quarter worth about $222,000. Fiduciary Financial Group LLC purchased a new position in shares of Toronto-Dominion Bank during the 3rd quarter worth about $211,000. Successful Portfolios LLC bought a new position in Toronto-Dominion Bank during the 3rd quarter valued at about $209,000. Finally, Hexagon Capital Partners LLC raised its position in Toronto-Dominion Bank by 18.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,337 shares of the bank’s stock worth $85,000 after purchasing an additional 209 shares during the period. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed 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 is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 5.25%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 68.41%.

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.