Cormark Comments on Toronto-Dominion Bank’s Q1 2019 Earnings (TD)

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Research analysts at Cormark issued their Q1 2019 earnings per share 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 $1.24 per share for the quarter. Cormark also issued estimates for Toronto-Dominion Bank’s Q2 2019 earnings at $1.22 EPS, Q3 2019 earnings at $1.34 EPS, Q4 2019 earnings at $1.40 EPS, Q1 2020 earnings at $1.32 EPS, Q3 2020 earnings at $1.42 EPS, Q4 2020 earnings at $1.48 EPS and FY2020 earnings at $5.55 EPS.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, November 29th. The bank reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.40. Toronto-Dominion Bank had a return on equity of 16.99% and a net margin of 21.27%. The business had revenue of $10.12 billion for the quarter, compared to analysts’ expectations of $9.31 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis.

A number of other equities analysts have also recently issued reports on the company. TheStreet upgraded Toronto-Dominion Bank from a “c+” rating to a “b” rating in a report on Tuesday, September 4th. Canaccord Genuity restated a “buy” rating on shares of Toronto-Dominion Bank in a report on Friday. Zacks Investment Research cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Finally, Barclays restated a “hold” rating on shares of Toronto-Dominion Bank in a report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $76.50.

Shares of TD stock opened at $55.30 on Monday. Toronto-Dominion Bank has a one year low of $52.83 and a one year high of $62.00. The company has a market capitalization of $101.42 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.00 and a beta of 1.01. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Thursday, January 10th will be issued a dividend of $0.509 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Wednesday, January 9th. Toronto-Dominion Bank’s payout ratio is 41.35%.

Institutional investors have recently bought and sold shares of the business. First Manhattan Co. raised its position in shares of Toronto-Dominion Bank by 106.9% during the third quarter. First Manhattan Co. now owns 1,970 shares of the bank’s stock worth $119,000 after purchasing an additional 1,018 shares during the period. Huntington National Bank raised its position in shares of Toronto-Dominion Bank by 216.9% during the third quarter. Huntington National Bank now owns 2,114 shares of the bank’s stock worth $129,000 after purchasing an additional 1,447 shares during the period. Quad Cities Investment Group LLC acquired a new position in shares of Toronto-Dominion Bank during the second quarter worth approximately $139,000. Klingenstein Fields & Co. LLC acquired a new position in shares of Toronto-Dominion Bank during the third quarter worth approximately $200,000. Finally, Marble Harbor Investment Counsel LLC acquired a new position in shares of Toronto-Dominion Bank during the second quarter worth approximately $206,000. Hedge funds and other institutional investors own 47.43% of the company’s stock.

Toronto-Dominion Bank Company Profile

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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