Equities Analysts Offer Predictions for The Toronto-Dominion Bank’s Q2 2024 Earnings (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Analysts at Cormark issued their Q2 2024 earnings per share estimates for Toronto-Dominion Bank in a note issued to investors on Wednesday, May 22nd. Cormark analyst L. Persaud anticipates that the bank will post earnings of $1.34 per share for the quarter. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.76 per share. Cormark also issued estimates for Toronto-Dominion Bank’s FY2024 earnings at $5.69 EPS and FY2025 earnings at $6.04 EPS.

Several other brokerages also recently issued reports on TD. Barclays assumed coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They set an “equal weight” rating for the company. Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, April 17th. National Bank Financial cut Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research note on Thursday. Finally, Jefferies Financial Group began coverage on Toronto-Dominion Bank in a research note on Thursday, February 22nd. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.33.

Toronto-Dominion Bank Price Performance

NYSE TD traded up $1.67 on Friday, hitting $56.68. 733,791 shares of the company’s stock were exchanged, compared to its average volume of 2,994,563. The stock has a 50-day moving average of $58.12 and a 200-day moving average of $59.95. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09. Toronto-Dominion Bank has a 52 week low of $54.12 and a 52 week high of $66.15. The stock has a market cap of $99.73 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 1.73 and a beta of 0.84.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%. The business had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $9.90 billion.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 64.53%.

Institutional Trading of Toronto-Dominion Bank

Several large investors have recently made changes to their positions in the company. LRI Investments LLC acquired a new position in Toronto-Dominion Bank during the 1st quarter valued at about $1,388,000. Virtu Financial LLC boosted its stake in Toronto-Dominion Bank by 41.6% during the 1st quarter. Virtu Financial LLC now owns 30,219 shares of the bank’s stock valued at $1,825,000 after purchasing an additional 8,885 shares during the last quarter. Murchinson Ltd. acquired a new position in Toronto-Dominion Bank during the 1st quarter valued at about $12,570,000. BOKF NA boosted its stake in Toronto-Dominion Bank by 203.6% during the 1st quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after purchasing an additional 680 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in Toronto-Dominion Bank during the 1st quarter valued at about $3,501,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.