Toronto-Dominion Bank Forecasted to Post Q1 2020 Earnings of $1.35 Per Share (TD)

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Cormark issued their Q1 2020 earnings per share (EPS) estimates for shares of Toronto-Dominion Bank in a report released on Thursday, November 29th. Cormark analyst M. Grauman anticipates that the bank will post earnings of $1.35 per share for the quarter. Cormark also issued estimates for Toronto-Dominion Bank’s Q2 2020 earnings at $1.34 EPS, Q3 2020 earnings at $1.41 EPS and Q4 2020 earnings at $1.45 EPS.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, November 29th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.01. The company had revenue of $10.12 billion for the quarter, compared to analysts’ expectations of $9.31 billion. Toronto-Dominion Bank had a return on equity of 16.63% and a net margin of 21.82%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Barclays restated a “hold” rating on shares of Toronto-Dominion Bank in a report on Friday, November 16th. ValuEngine cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 7th. TheStreet upgraded Toronto-Dominion Bank from a “c+” rating to a “b” rating in a report on Tuesday, September 4th. Finally, Canaccord Genuity restated a “buy” rating on shares of Toronto-Dominion Bank in a report on Thursday, November 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Toronto-Dominion Bank has a consensus rating of “Hold” and an average target price of $77.67.

TD opened at $55.25 on Friday. The company has a market capitalization of $101.75 billion, a P/E ratio of 11.39, a PEG ratio of 1.00 and a beta of 1.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.91. Toronto-Dominion Bank has a 1-year low of $52.83 and a 1-year high of $62.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TD. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in shares of Toronto-Dominion Bank by 60.0% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 10,773,218 shares of the bank’s stock worth $819,734,000 after acquiring an additional 4,039,200 shares during the period. Toronto Dominion Bank lifted its stake in Toronto-Dominion Bank by 29.9% in the 2nd quarter. Toronto Dominion Bank now owns 14,732,953 shares of the bank’s stock valued at $852,369,000 after buying an additional 3,391,735 shares in the last quarter. Fiera Capital Corp lifted its stake in Toronto-Dominion Bank by 62.7% in the 2nd quarter. Fiera Capital Corp now owns 7,874,345 shares of the bank’s stock valued at $455,807,000 after buying an additional 3,035,594 shares in the last quarter. FIL Ltd lifted its stake in Toronto-Dominion Bank by 8.6% in the 3rd quarter. FIL Ltd now owns 36,739,701 shares of the bank’s stock valued at $2,232,570,000 after buying an additional 2,900,086 shares in the last quarter. Finally, Capital World Investors lifted its stake in Toronto-Dominion Bank by 22.7% in the 3rd quarter. Capital World Investors now owns 13,395,694 shares of the bank’s stock valued at $814,019,000 after buying an additional 2,474,000 shares in the last quarter. Institutional investors and hedge funds own 47.43% of the company’s stock.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. 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 small, medium, and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

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

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