Analysts Issue Forecasts for The Toronto-Dominion Bank’s Q2 2023 Earnings (TSE:TD)

The Toronto-Dominion Bank (TSE:TD – Get Rating) (NYSE:TD) – Research analysts at Cormark decreased their Q2 2023 earnings per share estimates for shares of Toronto-Dominion Bank in a note issued to investors on Tuesday, May 23rd. Cormark analyst L. Persaud now forecasts that the company will post earnings per share of $2.12 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.

Several other equities analysts have also recently issued reports on TD. Fundamental Research set a C$104.14 target price on Toronto-Dominion Bank and gave the company a “buy” rating in a research note on Tuesday, March 14th. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, March 3rd. Royal Bank of Canada dropped their price target on Toronto-Dominion Bank from C$110.00 to C$95.00 and set an “outperform” rating on the stock in a research report on Thursday, May 4th. National Bankshares dropped their price target on Toronto-Dominion Bank from C$98.00 to C$94.00 in a research report on Thursday, May 18th. Finally, BMO Capital Markets dropped their target price on Toronto-Dominion Bank from C$91.00 to C$85.00 in a report on Friday, May 5th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Moderate Buy” and a consensus price target of C$96.36.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock opened at C$77.78 on Wednesday. The business’s 50 day simple moving average is C$81.09 and its two-hundred day simple moving average is C$86.35. The stock has a market capitalization of C$142.34 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 1.06 and a beta of 0.84. Toronto-Dominion Bank has a one year low of C$76.40 and a one year high of C$97.13.

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

Toronto-Dominion Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 30th. Investors of record on Thursday, April 6th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend was Wednesday, April 5th. Toronto-Dominion Bank’s payout ratio is presently 46.43%.

Insider Activity at Toronto-Dominion Bank

In other news, Senior Officer Riaz Ahmed sold 37,832 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of C$89.01, for a total value of C$3,367,426.32. 0.10% of the stock is owned by corporate insiders.

Toronto-Dominion Bank Company Profile

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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.