Royal Bank of Canada Lowers Toronto-Dominion Bank (TSE:TD) to Sector Perform

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) was downgraded by Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday, BayStreet.CA reports. They currently have a C$82.00 price target on the stock, down from their prior price target of C$88.00. Royal Bank of Canada’s target price would indicate a potential upside of 4.13% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group upped their price target on shares of Toronto-Dominion Bank from C$73.00 to C$82.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Bank of America raised their price target on Toronto-Dominion Bank from C$85.00 to C$90.00 in a research note on Friday, August 23rd. National Bank Financial raised Toronto-Dominion Bank from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 22nd. CIBC raised their price objective on shares of Toronto-Dominion Bank from C$88.00 to C$100.00 in a research report on Friday, September 6th. Finally, UBS Group set a C$82.00 target price on shares of Toronto-Dominion Bank and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$86.65.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock traded down C$3.01 during mid-day trading on Friday, hitting C$78.75. The company’s stock had a trading volume of 11,782,167 shares, compared to its average volume of 7,367,702. Toronto-Dominion Bank has a 52-week low of C$73.67 and a 52-week high of C$87.99. The firm’s 50 day moving average is C$82.47 and its 200 day moving average is C$79.47. The company has a market cap of C$137.81 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its quarterly earnings results on Thursday, August 22nd. The company reported C$2.05 EPS for the quarter, missing the consensus estimate of C$2.07 by C($0.02). The company had revenue of C$14.18 billion for the quarter, compared to analyst estimates of C$14.12 billion. Toronto-Dominion Bank had a return on equity of 7.33% and a net margin of 15.72%. As a group, analysts forecast that Toronto-Dominion Bank will post 8.2112811 EPS for the current year.

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.