Q3 2022 Earnings Forecast for The Toronto-Dominion Bank Issued By Cormark (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) – Equities research analysts at Cormark boosted their Q3 2022 EPS estimates for Toronto-Dominion Bank in a report issued on Tuesday, August 2nd. Cormark analyst L. Persaud now forecasts that the bank will post earnings of $1.70 per share for the quarter, up from their previous forecast of $1.70. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $6.40 per share. Cormark also issued estimates for Toronto-Dominion Bank’s Q4 2022 earnings at $1.69 EPS and Q3 2023 earnings at $1.77 EPS.

Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) last posted its quarterly earnings results on Thursday, May 26th. The bank reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.13. Toronto-Dominion Bank had a net margin of 24.49% and a return on equity of 15.98%. The firm had revenue of $11.26 billion for the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the prior year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis.

A number of other brokerages have also recently commented on TD. National Bank Financial lifted their price objective on shares of Toronto-Dominion Bank from C$100.00 to C$102.00 in a research note on Friday, May 27th. Credit Suisse Group lifted their price objective on shares of Toronto-Dominion Bank from C$102.00 to C$103.00 in a report on Friday, May 27th. Stifel Nicolaus reduced their price target on shares of Toronto-Dominion Bank from C$97.00 to C$93.00 in a report on Wednesday, July 13th. Scotiabank cut their price objective on shares of Toronto-Dominion Bank from C$105.00 to C$102.00 in a research report on Friday, May 20th. Finally, CIBC downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating in a research report on Monday, April 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $100.66.

Toronto-Dominion Bank Stock Up 1.5 %

Shares of TD stock opened at $65.33 on Wednesday. The company has a market capitalization of $118.03 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 1.29 and a beta of 0.95. Toronto-Dominion Bank has a one year low of $58.64 and a one year high of $86.01. The company’s fifty day moving average price is $67.31 and its 200-day moving average price is $74.24. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.95.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, July 31st. Investors of record on Friday, July 8th were paid a $0.692 dividend. This represents a $2.77 annualized dividend and a yield of 4.24%. The ex-dividend date was Thursday, July 7th. Toronto-Dominion Bank’s payout ratio is 43.15%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new position in Toronto-Dominion Bank in the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC purchased a new position in Toronto-Dominion Bank in the 4th quarter worth approximately $27,000. Column Capital Advisors LLC raised its position in shares of Toronto-Dominion Bank by 830.0% in the 4th quarter. Column Capital Advisors LLC now owns 372 shares of the bank’s stock valued at $29,000 after purchasing an additional 332 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Toronto-Dominion Bank in the 2nd quarter valued at approximately $31,000. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 50.00% of the company’s stock.

About Toronto-Dominion Bank

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The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.

Further Reading

Earnings History and Estimates for Toronto-Dominion Bank (NYSE:TD)

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