FY2024 EPS Forecast for Toronto-Dominion Bank Cut by Analyst

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) – Investment analysts at Desjardins lowered their FY2024 earnings per share estimates for Toronto-Dominion Bank in a research report issued to clients and investors on Friday, November 1st. Desjardins analyst D. Young now forecasts that the company will post earnings of $7.87 per share for the year, down from their previous forecast of $7.89. Desjardins currently has a “Buy” rating and a $90.00 price objective 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.

TD has been the topic of a number of other reports. Bank of America boosted their price objective on Toronto-Dominion Bank from C$85.00 to C$90.00 in a research note on Friday, August 23rd. Scotiabank decreased their price objective on Toronto-Dominion Bank from C$87.00 to C$86.00 in a research note on Monday, August 19th. Barclays decreased their price objective on Toronto-Dominion Bank from C$90.00 to C$80.00 in a research note on Friday, October 11th. Jefferies Financial Group boosted their price objective 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, Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$88.00 to C$82.00 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$86.65.

Toronto-Dominion Bank Stock Performance

TSE:TD opened at C$77.09 on Monday. Toronto-Dominion Bank has a 52-week low of C$73.67 and a 52-week high of C$87.99. The firm has a market cap of C$134.91 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 1.22 and a beta of 0.82. The business’s fifty day moving average is C$81.99 and its 200 day moving average is C$79.20.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its earnings results on Thursday, August 22nd. The company reported C$2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.07 by C($0.02). The firm had revenue of C$14.18 billion during the quarter, compared to the consensus estimate of C$14.12 billion. Toronto-Dominion Bank had a net margin of 15.72% and a return on equity of 7.33%.

Toronto-Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st were issued 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 currently 94.44%.

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.