The Toronto-Dominion Bank (TSE:TD) to Post Q2 2023 Earnings of $2.12 Per Share, Cormark Forecasts

The Toronto-Dominion Bank (TSE:TD – Get Rating) (NYSE:TD) – Equities research analysts at Cormark lowered their Q2 2023 earnings per share (EPS) estimates for shares of Toronto-Dominion Bank in a research note issued to investors on Tuesday, May 23rd. Cormark analyst L. Persaud now anticipates that the company will post earnings of $2.12 per share for the quarter, down from their prior estimate of $2.19. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $8.73 per share. Cormark also issued estimates for Toronto-Dominion Bank’s FY2023 earnings at $8.75 EPS and FY2024 earnings at $9.13 EPS.

Toronto-Dominion Bank (TSE:TD – Get Rating) (NYSE:TD) last posted its quarterly earnings results on Thursday, March 2nd. The company reported C$2.23 EPS for the quarter, topping analysts’ consensus estimates of C$2.16 by C$0.07. The company had revenue of C$12.23 billion for the quarter, compared to analysts’ expectations of C$12.12 billion. Toronto-Dominion Bank had a net margin of 31.78% and a return on equity of 14.29%.

Several other research analysts have also issued reports on TD. National Bank Financial cut their target price on shares of Toronto-Dominion Bank from C$98.00 to C$94.00 in a research report on Thursday, May 18th. CIBC raised shares of Toronto-Dominion Bank from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from C$100.00 to C$97.00 in a research note on Tuesday, April 18th. National Bankshares lowered their price target on shares of Toronto-Dominion Bank from C$98.00 to C$94.00 in a research note on Thursday, May 18th. Barclays downgraded shares of Toronto-Dominion Bank from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from C$101.00 to C$83.00 in a research note on Tuesday, May 9th. Finally, Fundamental Research set a C$104.14 target price on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Tuesday, March 14th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$96.36.

Toronto-Dominion Bank Trading Down 1.8 %

Toronto-Dominion Bank stock opened at C$81.18 on Wednesday. The firm has a 50 day simple moving average of C$81.12 and a 200 day simple moving average of C$86.41. The firm has a market capitalization of C$148.56 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 1.06 and a beta of 0.84. Toronto-Dominion Bank has a 1-year low of C$76.40 and a 1-year high of C$97.13.

Insider Transactions at Toronto-Dominion Bank

In related news, Senior Officer Riaz Ahmed sold 37,832 shares of the stock in a transaction on Monday, March 6th. The shares were sold at an average price of C$89.01, for a total transaction of C$3,367,426.32. Company insiders own 0.10% of the company’s stock.

Toronto-Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th were paid a $0.96 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.73%. Toronto-Dominion Bank’s payout ratio is currently 46.43%.

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 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.