The Toronto-Dominion Bank (TSE:TD) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Toronto-Dominion Bank a “Moderate Buy” consensus: Seven of 11 analysts rate it a buy, while three recommend holding and one recommends selling. The average 12-month price target is C$171.08.
• Several analysts recently raised their price targets, with targets ranging from C$165 to C$188 and ratings including “outperform,” “sector outperform,” and “neutral.”
• TD reported quarterly EPS of C$2.77 on C$16.93 billion in revenue and increased its quarterly dividend to C$1.12, equivalent to a 2.7% annualized yield and a 46.36% payout ratio.

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD has been assigned a consensus rating of "Moderate Buy" from the eleven research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$171.08.

TD has been the topic of several recent analyst reports. Scotiabank upped their target price on Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the company a "sector outperform" rating in a research report on Friday, August 28th. Royal Bank Of Canada upped their price target on shares of Toronto-Dominion Bank from C$156.00 to C$173.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. Raymond James Financial raised their price target on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Jefferies Financial Group lifted their price objective on shares of Toronto-Dominion Bank from C$164.00 to C$165.00 in a research note on Thursday, September 3rd. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Toronto-Dominion Bank from C$184.00 to C$188.00 and gave the company a "neutral" rating in a report on Thursday, September 3rd.

Toronto-Dominion Bank Price Performance

Shares of TSE TD opened at C$167.72 on Friday. The stock has a market capitalization of C$274.81 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.22 and a beta of 0.81. Toronto-Dominion Bank has a 1-year low of C$105.95 and a 1-year high of C$175.33. The business has a fifty day moving average price of C$168.67 and a 200 day moving average price of C$154.05.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last posted its earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share (EPS) for the quarter. The company had revenue of C$16.93 billion for the quarter. Toronto-Dominion Bank had a return on equity of 12.83% and a net margin of 14.36%. As a group, equities research analysts anticipate that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 31st were issued a $1.12 dividend. This is an increase from Toronto-Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Friday, July 10th. This represents a $4.48 annualized dividend and a dividend yield of 2.7%. Toronto-Dominion Bank's payout ratio is currently 46.36%.

About Toronto-Dominion Bank

TD Asset Management Inc ('TDAM'), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.

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