Desjardins Issues Optimistic Estimate for TSE:TD Earnings

Key Points

• Desjardins has upgraded its FY2025 earnings estimate for Toronto-Dominion Bank to $8.25 per share, an increase from its previous forecast of $8.00.
• Desjardins maintains a Buy rating on the stock with a price objective set at $110.00.
• The bank recently declared a quarterly dividend of $1.05, leading to a 4.1% annualized yield.

The Toronto-Dominion Bank (TSE:TD - Free Report) NYSE: TD - Investment analysts at Desjardins increased their FY2025 earnings estimates for shares of Toronto-Dominion Bank in a note issued to investors on Thursday, August 28th. Desjardins analyst D. Young now forecasts that the company will post earnings per share of $8.25 for the year, up from their previous estimate of $8.00. Desjardins currently has a "Buy" rating and a $110.00 target price on the stock. The consensus estimate for Toronto-Dominion Bank's current full-year earnings is $7.22 per share. Desjardins also issued estimates for Toronto-Dominion Bank's FY2026 earnings at $8.75 EPS.

Several other research analysts have also recently issued reports on TD. National Bankshares increased their price objective on Toronto-Dominion Bank from C$99.00 to C$100.00 and gave the stock a "sector perform" rating in a research report on Friday, August 29th. CIBC raised their target price on Toronto-Dominion Bank from C$99.00 to C$109.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Scotiabank raised their target price on Toronto-Dominion Bank from C$95.00 to C$104.00 and gave the company a "sector perform" rating in a report on Friday, August 29th. Canaccord Genuity Group raised their target price on Toronto-Dominion Bank from C$109.00 to C$113.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, Jefferies Financial Group raised their target price on Toronto-Dominion Bank from C$103.00 to C$117.00 in a report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank has an average rating of "Hold" and a consensus price target of C$99.92.

Toronto-Dominion Bank Price Performance

Shares of TD stock traded up C$0.18 during mid-day trading on Monday, hitting C$103.51. The stock had a trading volume of 977,731 shares, compared to its average volume of 7,473,942. Toronto-Dominion Bank has a fifty-two week low of C$73.22 and a fifty-two week high of C$108.68. The firm has a market cap of C$181.33 billion, a PE ratio of 8.86, a PEG ratio of 1.22 and a beta of 0.86. The company's 50-day simple moving average is C$101.61 and its 200-day simple moving average is C$92.86.

Insiders Place Their Bets

In other Toronto-Dominion Bank news, Senior Officer Melanie Burns sold 6,272 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of C$97.46, for a total value of C$611,269.12. Company insiders own 0.08% of the company's stock.

Toronto-Dominion Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 31st were issued a $1.05 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.20 annualized dividend and a yield of 4.1%. Toronto-Dominion Bank's dividend payout ratio is 35.70%.

About Toronto-Dominion Bank

Toronto-Dominion is one of Canada's two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank's U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.