Brokers Set Expectations for Toronto-Dominion Bank’s Q2 2020 Earnings (NYSE:TD)

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – National Bank Financial decreased their Q2 2020 earnings estimates for shares of Toronto-Dominion Bank in a research report issued to clients and investors on Tuesday, February 11th. National Bank Financial analyst G. Dechaine now expects that the bank will earn $1.27 per share for the quarter, down from their prior forecast of $1.29. National Bank Financial also issued estimates for Toronto-Dominion Bank’s Q3 2020 earnings at $1.31 EPS and FY2020 earnings at $5.08 EPS.

Several other research firms also recently commented on TD. CSFB downgraded Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $76.00 to $74.00 in a report on Monday, October 28th. Citigroup cut Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Tuesday, December 17th. Zacks Investment Research raised Toronto-Dominion Bank from a “sell” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Thursday, February 6th. Desjardins reaffirmed a “buy” rating and set a $81.00 price target on shares of Toronto-Dominion Bank in a research report on Friday, November 22nd. Finally, Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $78.42.

Toronto-Dominion Bank stock opened at $56.84 on Thursday. The stock’s 50 day moving average is $56.26 and its 200 day moving average is $56.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $103.62 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.79 and a beta of 0.96. Toronto-Dominion Bank has a one year low of $53.44 and a one year high of $59.55.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, December 5th. The bank reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.28. Toronto-Dominion Bank had a return on equity of 15.69% and a net margin of 19.76%. The company had revenue of $10.34 billion during the quarter, compared to the consensus estimate of $10.08 billion. During the same quarter last year, the firm earned $1.63 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis.

Large investors have recently bought and sold shares of the stock. Great Diamond Partners LLC bought a new stake in Toronto-Dominion Bank during the fourth quarter worth approximately $26,000. KCS Wealth Advisory bought a new stake in Toronto-Dominion Bank during the third quarter worth approximately $30,000. Cullen Frost Bankers Inc. bought a new stake in Toronto-Dominion Bank during the third quarter worth approximately $38,000. Trustcore Financial Services LLC increased its stake in Toronto-Dominion Bank by 83.3% during the fourth quarter. Trustcore Financial Services LLC now owns 669 shares of the bank’s stock worth $38,000 after acquiring an additional 304 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Toronto-Dominion Bank by 19.5% during the second quarter. BlackRock Inc. now owns 1,386 shares of the bank’s stock worth $81,000 after acquiring an additional 226 shares during the last quarter. Institutional investors own 47.59% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were given a $0.5605 dividend. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Thursday, January 9th. Toronto-Dominion Bank’s payout ratio is currently 45.33%.

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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