Equities Analysts Issue Forecasts for The Toronto-Dominion Bank’s FY2023 Earnings (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) – Cormark lifted their FY2023 earnings per share estimates for shares of Toronto-Dominion Bank in a report issued on Tuesday, November 22nd. Cormark analyst L. Persaud now anticipates that the bank will post earnings per share of $7.30 for the year, up from their previous forecast of $7.02. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $6.20 per share.

Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) last issued its quarterly earnings data on Thursday, August 25th. The bank reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $10.63 billion. Toronto-Dominion Bank had a net margin of 22.93% and a return on equity of 16.09%. During the same quarter in the previous year, the firm posted $1.60 earnings per share.

Other analysts have also issued research reports about the company. Scotiabank decreased their price objective on Toronto-Dominion Bank from C$101.00 to C$100.00 in a report on Tuesday. CIBC dropped their target price on shares of Toronto-Dominion Bank from C$100.00 to C$97.00 in a research report on Tuesday, August 16th. StockNews.com assumed coverage on shares of Toronto-Dominion Bank in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada upgraded Toronto-Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, August 26th. Finally, Credit Suisse Group raised their price target on shares of Toronto-Dominion Bank from C$94.00 to C$95.00 in a research report on Friday, August 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $100.70.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $68.11 on Thursday. The company has a market cap of $123.59 billion, a P/E ratio of 10.95, a PEG ratio of 1.42 and a beta of 0.90. The stock’s 50-day moving average is $63.86 and its 200 day moving average is $66.27. Toronto-Dominion Bank has a 1-year low of $57.27 and a 1-year high of $86.01. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94.

Institutional Investors Weigh In On Toronto-Dominion Bank

Institutional investors have recently bought and sold shares of the company. Versor Investments LP purchased a new position in shares of Toronto-Dominion Bank in the first quarter worth about $706,000. Envestnet Asset Management Inc. boosted its holdings in shares of Toronto-Dominion Bank by 64.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 120,843 shares of the bank’s stock worth $9,597,000 after purchasing an additional 47,142 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Toronto-Dominion Bank by 62.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,927 shares of the bank’s stock valued at $232,000 after purchasing an additional 1,124 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Toronto-Dominion Bank by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 126,709 shares of the bank’s stock valued at $10,063,000 after purchasing an additional 572 shares during the last quarter. Finally, Clearstead Advisors LLC increased its stake in shares of Toronto-Dominion Bank by 12.2% in the 1st quarter. Clearstead Advisors LLC now owns 3,666 shares of the bank’s stock worth $291,000 after acquiring an additional 398 shares during the last quarter. 49.10% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Company Profile

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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 Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking segments. The company offers personal deposits, such as checking, 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.

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

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