Toronto-Dominion Bank (NYSE:TD) Posts Quarterly Earnings Results, Beats Expectations By $0.56 EPS

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) issued its earnings results on Thursday. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.56, Briefing.com reports. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same period in the previous year, the business earned $1.48 EPS. The firm’s revenue was up 9.8% on a year-over-year basis.

Toronto-Dominion Bank Trading Up 0.3 %

NYSE TD traded up $0.18 during trading on Friday, reaching $58.63. 89,931 shares of the stock traded hands, compared to its average volume of 2,765,958. The firm has a market cap of $102.45 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82. The stock’s 50-day moving average price is $56.71 and its 200 day moving average price is $57.68. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be issued a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 67.73%.

Analyst Upgrades and Downgrades

TD has been the topic of several recent research reports. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday. BMO Capital Markets reduced their price target on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, May 24th. UBS Group began coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Finally, StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $88.00.

Toronto-Dominion Bank Company Profile

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.