Brokerages forecast that Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) will report sales of $7.22 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Toronto Dominion Bank (The)’s earnings, with the highest sales estimate coming in at $7.46 billion and the lowest estimate coming in at $6.98 billion. Toronto Dominion Bank (The) reported sales of $6.67 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8.2%. The company is expected to announce its next earnings results on Thursday, December 7th.

On average, analysts expect that Toronto Dominion Bank (The) will report full year sales of $7.22 billion for the current fiscal year, with estimates ranging from $27.18 billion to $28.96 billion. For the next year, analysts expect that the business will post sales of $29.53 billion per share, with estimates ranging from $28.46 billion to $30.60 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Toronto Dominion Bank (The).

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.05 billion. Toronto Dominion Bank (The) had a net margin of 22.85% and a return on equity of 14.71%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 earnings per share.

TD has been the subject of a number of recent analyst reports. Macquarie initiated coverage on Toronto Dominion Bank (The) in a research report on Tuesday. They issued an “outperform” rating for the company. BidaskClub raised Toronto Dominion Bank (The) from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Canaccord Genuity reissued a “buy” rating and issued a $72.00 target price on shares of Toronto Dominion Bank (The) in a research report on Thursday, August 31st. Zacks Investment Research lowered Toronto Dominion Bank (The) from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Howard Weil raised Toronto Dominion Bank (The) to an “outperform” rating in a research report on Monday, August 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $64.75.

Toronto Dominion Bank (NYSE TD) traded down 0.62% during trading on Wednesday, reaching $56.36. 1,242,866 shares of the company traded hands. The company’s 50-day moving average price is $56.13 and its 200 day moving average price is $51.22. Toronto Dominion Bank has a 52 week low of $44.37 and a 52 week high of $57.79. The firm has a market capitalization of $104.19 billion, a price-to-earnings ratio of 12.97 and a beta of 0.89.

Toronto Dominion Bank (The) announced that its board has approved a stock buyback plan on Thursday, August 31st that allows the company to buyback 20,000,000 shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.90 annualized dividend and a dividend yield of 3.37%. This is a positive change from Toronto Dominion Bank (The)’s previous quarterly dividend of $0.44. Toronto Dominion Bank (The)’s dividend payout ratio is presently 47.62%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in TD. Parallel Advisors LLC increased its position in shares of Toronto Dominion Bank (The) by 10.0% during the 2nd quarter. Parallel Advisors LLC now owns 2,151 shares of the bank’s stock valued at $111,000 after purchasing an additional 196 shares during the last quarter. Cornerstone Advisors Inc. increased its position in shares of Toronto Dominion Bank (The) by 5.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,319 shares of the bank’s stock valued at $117,000 after purchasing an additional 114 shares during the last quarter. Cribstone Capital Management LLC increased its position in shares of Toronto Dominion Bank (The) by 47.3% during the 2nd quarter. Cribstone Capital Management LLC now owns 2,341 shares of the bank’s stock valued at $118,000 after purchasing an additional 752 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Toronto Dominion Bank (The) by 26.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock valued at $119,000 after purchasing an additional 487 shares during the last quarter. Finally, Ropes Wealth Advisors LLC increased its position in shares of Toronto Dominion Bank (The) by 18.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 2,376 shares of the bank’s stock valued at $120,000 after purchasing an additional 376 shares during the last quarter. 47.65% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank (The) Company Profile

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

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

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