Q2 2023 EPS Estimates for The Toronto-Dominion Bank Decreased by Analyst (TSE:TD)

Posted by Nicole Kennedy on May 26th, 2023

The Toronto-Dominion Bank (TSE:TD – Get Rating) (NYSE:TD) – Stock analysts at Cormark decreased their Q2 2023 EPS estimates for Toronto-Dominion Bank in a research report issued to clients and investors on Tuesday, May 23rd. Cormark analyst L. Persaud now expects that the company will post earnings of $2.12 per share for the quarter, down from their prior forecast 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.

Toronto-Dominion Bank (TSE:TD – Get Rating) (NYSE:TD) last issued its quarterly earnings results on Thursday, March 2nd. The company reported C$2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.16 by C$0.07. The business had revenue of C$12.23 billion for 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%.

TD has been the topic of several other reports. CIBC raised shares of Toronto-Dominion Bank from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from C$100.00 to C$97.00 in a research note on Tuesday, April 18th. BMO Capital Markets lowered their target price on shares of Toronto-Dominion Bank from C$91.00 to C$85.00 in a research note on Friday, May 5th. CSFB lowered their target price on shares of Toronto-Dominion Bank from C$97.00 to C$94.00 in a research note on Friday, March 3rd. Fundamental Research set a C$104.14 price target on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a research report on Tuesday, March 14th. Finally, National Bank Financial reduced their price target on shares of Toronto-Dominion Bank from C$98.00 to C$94.00 in a research report on Thursday, May 18th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Moderate Buy” and an average target price of C$96.36.

Toronto-Dominion Bank Price Performance

Shares of TD opened at C$77.78 on Wednesday. Toronto-Dominion Bank has a 1-year low of C$76.40 and a 1-year high of C$97.13. The firm has a market capitalization of C$142.34 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 1.06 and a beta of 0.84. The company’s fifty day moving average price is C$81.09 and its 200-day moving average price is C$86.35.

Toronto-Dominion Bank Announces Dividend

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

Insider Activity

In other news, Senior Officer Riaz Ahmed sold 37,832 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of C$89.01, for a total transaction of C$3,367,426.32. Corporate insiders own 0.10% of the company’s stock.

About Toronto-Dominion Bank

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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.