Desjardins Issues Negative Outlook for TD Earnings

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Analysts at Desjardins lowered their Q4 2024 earnings per share (EPS) estimates for shares of Toronto-Dominion Bank in a note issued to investors on Friday, November 1st. Desjardins analyst D. Young now expects that the bank will post earnings of $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 announced its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) 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 analyst estimates of $9.40 billion. During the same period in the previous year, the business posted $1.48 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year.

Several other brokerages also recently weighed in on TD. 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. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Toronto-Dominion Bank presently has an average rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Stock Up 1.2 %

TD stock opened at $55.68 on Monday. Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $65.12. The stock has a market cap of $97.36 billion, a P/E ratio of 17.79, a PEG ratio of 1.56 and a beta of 0.82. The business’s 50-day moving average price is $59.98 and its 200-day moving average price is $57.87. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a $0.739 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.31%. Toronto-Dominion Bank’s payout ratio is currently 96.49%.

Institutional Trading of Toronto-Dominion Bank

A number of hedge funds have recently modified their holdings of the stock. National Bank of Canada FI increased its position in shares of Toronto-Dominion Bank by 6.2% in 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 buying an additional 1,736,931 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Toronto-Dominion Bank by 0.8% in the second quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock valued at $1,429,186,000 after buying an additional 218,807 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Toronto-Dominion Bank by 6.0% during 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 during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Toronto-Dominion Bank by 9.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock worth $759,449,000 after acquiring an additional 1,206,574 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Toronto-Dominion Bank by 3.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,884,896 shares of the bank’s stock valued at $653,194,000 after purchasing an additional 358,283 shares during the last quarter. Hedge funds and other 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.