Desjardins Issues Pessimistic Estimate for TSE:TD Earnings

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) – Investment analysts at Desjardins dropped their FY2024 EPS estimates for Toronto-Dominion Bank in a research note issued to investors on Friday, November 1st. Desjardins analyst D. Young now expects that the company will post earnings per share of $7.87 for the year, down from their previous estimate of $7.89. Desjardins currently has a “Buy” rating and a $90.00 target price on the stock. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $7.22 per share. Desjardins also issued estimates for Toronto-Dominion Bank’s Q4 2024 earnings at $1.78 EPS.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its quarterly earnings data on Thursday, August 22nd. The company reported C$2.05 EPS for the quarter, missing analysts’ consensus estimates of C$2.07 by C($0.02). The company had revenue of C$14.18 billion for the quarter, compared to analyst estimates of C$14.12 billion. Toronto-Dominion Bank had a net margin of 15.72% and a return on equity of 7.33%.

A number of other analysts also recently commented on TD. Barclays dropped their price objective on Toronto-Dominion Bank from C$90.00 to C$80.00 in a research note on Friday, October 11th. Bank of America upped their price target on Toronto-Dominion Bank from C$85.00 to C$90.00 in a report on Friday, August 23rd. Cormark decreased their price target on Toronto-Dominion Bank from C$93.00 to C$91.00 in a research report on Friday, October 11th. Jefferies Financial Group increased their price target on Toronto-Dominion Bank from C$73.00 to C$82.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Canaccord Genuity Group cut their price target on Toronto-Dominion Bank from C$93.50 to C$91.50 in a research note on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of “Moderate Buy” and a consensus price target of C$86.65.

Toronto-Dominion Bank Price Performance

TSE:TD opened at C$77.09 on Monday. Toronto-Dominion Bank has a 12-month low of C$73.67 and a 12-month high of C$87.99. The firm has a market capitalization of C$134.91 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.22 and a beta of 0.82. The business has a 50 day simple moving average of C$81.99 and a 200 day simple moving average of C$79.20.

Toronto-Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 31st were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date was Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 94.44%.

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.