Toronto-Dominion Bank (TSE:TD) Announces Earnings Results, Beats Estimates By $0.20 EPS

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) announced its earnings results on Thursday. The company reported C$2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.84 by C$0.20, reports. The firm had revenue of C$13.82 billion during the quarter, compared to analyst estimates of C$13.38 billion. Toronto-Dominion Bank had a net margin of 23.86% and a return on equity of 10.72%.

Toronto-Dominion Bank Price Performance

TSE TD opened at C$77.28 on Friday. The company has a 50 day simple moving average of C$79.24 and a 200-day simple moving average of C$81.21. The firm has a market capitalization of C$136.79 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. Toronto-Dominion Bank has a 52-week low of C$73.98 and a 52-week high of C$87.10.

Toronto-Dominion Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 64.45%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TD. Canaccord Genuity Group raised their price objective on shares of Toronto-Dominion Bank from C$91.00 to C$93.50 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada raised their price objective on shares of Toronto-Dominion Bank from C$87.00 to C$89.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group raised their price objective on shares of Toronto-Dominion Bank from C$74.00 to C$76.00 and gave the company a “hold” rating in a research report on Friday. National Bank Financial lowered shares of Toronto-Dominion Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, CIBC upgraded shares of Toronto-Dominion Bank from a “neutral” rating to an “outperform” rating and raised their price objective for the company from C$83.50 to C$88.00 in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$88.42.

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.