Cormark Comments on Toronto-Dominion Bank’s Q3 2017 Earnings (TD)

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Cormark issued their Q3 2017 earnings per share estimates for Toronto-Dominion Bank in a report released on Thursday. Cormark analyst M. Grauman anticipates that the bank will post earnings per share of $0.98 for the quarter. Cormark also issued estimates for Toronto-Dominion Bank’s Q4 2017 earnings at $0.95 EPS, FY2017 earnings at $3.95 EPS, Q1 2018 earnings at $1.00 EPS, Q2 2018 earnings at $1.01 EPS, Q3 2018 earnings at $1.07 EPS, Q4 2018 earnings at $1.05 EPS and FY2018 earnings at $4.22 EPS.

TD has been the topic of several other reports. Royal Bank of Canada cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $73.00 to $68.00 in a research report on Monday, March 13th. They noted that the move was a valuation call. Zacks Investment Research cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. National Bank Financial restated a “sector perform overweight” rating on shares of Toronto-Dominion Bank in a research report on Thursday, May 18th. Finally, Barclays PLC upgraded Toronto-Dominion Bank from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, May 23rd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Toronto-Dominion Bank presently has an average rating of “Buy” and a consensus price target of $61.71.

Earnings History and Estimates for Toronto-Dominion Bank (NYSE:TD)

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Toronto-Dominion Bank (NYSE:TD) opened at 47.73 on Monday. The company’s 50-day moving average price is $47.64 and its 200-day moving average price is $49.36. Toronto-Dominion Bank has a one year low of $41.36 and a one year high of $54.44. The firm has a market cap of $87.99 billion, a price-to-earnings ratio of 12.85 and a beta of 0.97.

Toronto-Dominion Bank (NYSE:TD) last announced its quarterly earnings data on Thursday, May 25th. The bank reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. Toronto-Dominion Bank had a return on equity of 18.23% and a net margin of 21.61%. The firm had revenue of $8.47 billion for the quarter, compared to analyst estimates of $8.72 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. Toronto-Dominion Bank’s quarterly revenue was up 2.6% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 10th will be given a dividend of $0.444 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, July 6th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 46.07%.

Several institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its position in shares of Toronto-Dominion Bank by 25.5% in the first quarter. Meeder Asset Management Inc. now owns 2,187 shares of the bank’s stock valued at $110,000 after buying an additional 444 shares during the period. Pinnacle Bank purchased a new position in shares of Toronto-Dominion Bank during the first quarter valued at about $110,000. Pacad Investment Ltd. purchased a new position in shares of Toronto-Dominion Bank during the fourth quarter valued at about $113,000. Teachers Advisors LLC boosted its position in shares of Toronto-Dominion Bank by 855.0% in the first quarter. Teachers Advisors LLC now owns 2,464 shares of the bank’s stock valued at $123,000 after buying an additional 2,206 shares during the period. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Toronto-Dominion Bank during the fourth quarter valued at about $143,000. Institutional investors own 53.66% of the company’s stock.

Toronto-Dominion Bank Company Profile

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

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