Cormark Reduces Earnings Estimates for Toronto-Dominion Bank

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Cormark dropped their FY2024 EPS estimates for shares of Toronto-Dominion Bank in a report released on Monday, November 25th. Cormark analyst L. Persaud now forecasts that the bank will earn $5.69 per share for the year, down from their previous forecast of $5.84. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.46 per share. Cormark also issued estimates for Toronto-Dominion Bank’s Q4 2024 earnings at $1.30 EPS.

Other equities research analysts have also issued reports about the company. National Bank Financial raised 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 shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toronto-Dominion Bank has an average rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock opened at $56.39 on Wednesday. Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. 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’s fifty day moving average is $58.33 and its 200 day moving average is $57.71. The company has a market cap of $98.70 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.92 and a beta of 0.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its stake in Toronto-Dominion Bank by 0.8% during the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock valued at $1,429,186,000 after purchasing an additional 218,807 shares in the last quarter. 1832 Asset Management L.P. raised its stake in 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 acquiring an additional 1,462,794 shares during the last quarter. CIBC Asset Management Inc lifted its position in Toronto-Dominion Bank by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after acquiring an additional 853,313 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Toronto-Dominion Bank by 9.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock valued at $759,449,000 after purchasing an additional 1,206,574 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after purchasing an additional 2,689,532 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

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.