FY2023 EPS Estimates for The Toronto-Dominion Bank (TSE:TD) Lifted by Analyst

The Toronto-Dominion Bank (TSE:TD – Get Rating) (NYSE:TD) – Equities researchers at Desjardins boosted their FY2023 earnings per share estimates for Toronto-Dominion Bank in a research note issued on Monday, May 9th. Desjardins analyst D. Young now forecasts that the company will post earnings of $9.20 per share for the year, up from their prior forecast of $9.15.

Several other equities analysts have also commented on the stock. National Bankshares lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$110.00 to C$100.00 in a research report on Monday, March 7th. Canaccord Genuity Group lowered their price objective on shares of Toronto-Dominion Bank from C$110.50 to C$106.00 in a research report on Friday, March 4th. National Bank Financial lowered shares of Toronto-Dominion Bank from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Sunday, March 6th. Scotiabank lowered their target price on shares of Toronto-Dominion Bank from C$116.00 to C$105.00 in a report on Wednesday, April 13th. Finally, CIBC lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from C$115.00 to C$103.00 in a report on Monday, April 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$101.66.

TD stock opened at C$91.96 on Wednesday. Toronto-Dominion Bank has a 52 week low of C$80.68 and a 52 week high of C$109.08. The company has a fifty day simple moving average of C$97.08 and a two-hundred day simple moving average of C$97.69. The firm has a market capitalization of C$166.78 billion and a P/E ratio of 11.54.

Toronto-Dominion Bank (TSE:TD – Get Rating) (NYSE:TD) last posted its earnings results on Thursday, March 3rd. The company reported C$2.08 earnings per share for the quarter, beating the consensus estimate of C$2.01 by C$0.07. The company had revenue of C$11.28 billion for the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 30th. Stockholders of record on Friday, April 8th were given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Thursday, April 7th. Toronto-Dominion Bank’s payout ratio is currently 40.90%.

Toronto-Dominion Bank Company Profile (Get Rating)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, 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.

Read More