Equities research analysts forecast that Toronto-Dominion Bank (NYSE:TD) (TSE:TD) will announce $7.63 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Toronto-Dominion Bank’s earnings, with the lowest sales estimate coming in at $7.31 billion and the highest estimate coming in at $7.98 billion. Toronto-Dominion Bank posted sales of $7.77 billion during the same quarter last year, which indicates a negative year over year growth rate of 1.8%. The firm is expected to issue its next earnings results on Thursday, December 5th.

On average, analysts expect that Toronto-Dominion Bank will report full year sales of $29.71 billion for the current fiscal year, with estimates ranging from $28.85 billion to $31.08 billion. For the next fiscal year, analysts forecast that the firm will post sales of $31.17 billion, with estimates ranging from $30.05 billion to $32.43 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Toronto-Dominion Bank.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 29th. The bank reported $1.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.45. The company had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $9.80 billion. Toronto-Dominion Bank had a return on equity of 16.08% and a net margin of 20.02%. Toronto-Dominion Bank’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 EPS.

Several brokerages have weighed in on TD. Barclays set a $80.00 price target on Toronto-Dominion Bank and gave the company a “buy” rating in a report on Thursday, August 29th. Zacks Investment Research upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Tuesday, September 10th. National Bank Financial set a $84.00 price target on Toronto-Dominion Bank and gave the company a “buy” rating in a report on Friday, August 30th. CIBC set a $83.00 price target on Toronto-Dominion Bank and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Bank of America downgraded Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and cut their price target for the company from $82.00 to $77.00 in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $78.56.

Hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI purchased a new stake in Toronto-Dominion Bank during the 1st quarter worth $28,000. Farmers National Bank purchased a new stake in Toronto-Dominion Bank during the 1st quarter worth $33,000. Manchester Capital Management LLC purchased a new stake in Toronto-Dominion Bank during the 1st quarter worth $37,000. Sandy Spring Bank boosted its position in Toronto-Dominion Bank by 640.7% during the 2nd quarter. Sandy Spring Bank now owns 800 shares of the bank’s stock worth $47,000 after purchasing an additional 692 shares during the period. Finally, Coastal Capital Group Inc. purchased a new stake in Toronto-Dominion Bank during the 2nd quarter worth $51,000. Institutional investors and hedge funds own 50.29% of the company’s stock.

TD traded up $0.32 during trading on Thursday, hitting $57.55. The company’s stock had a trading volume of 813,900 shares, compared to its average volume of 1,196,861. The firm’s 50 day moving average price is $55.47 and its 200-day moving average price is $56.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $104.15 billion, a PE ratio of 11.44, a PEG ratio of 2.19 and a beta of 1.07. Toronto-Dominion Bank has a twelve month low of $47.73 and a twelve month high of $62.00.

The company also recently disclosed a — dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.556 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a dividend yield of 4.1%. Toronto-Dominion Bank’s payout ratio is 44.93%.

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. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to 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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