Toronto Dominion Bank (The) Price Target Update

The bank, based in Toronto, said it had earnings of 73 cents per share.

The profit amounted to 96 cents per share or $1.14 per share on an adjusted basis, after excluding $243 million of after-tax restructuring charges and other items.

Toronto Dominion Bank’s market cap is now $75.44B and has a P/E ratio of 12.4.

Sears Canada Inc. (SCC.TO, SRSC) reported a net loss for the third quarter that narrowed from a year ago as a decline in sales was more than offset by lower costs and expenses.

Toronto-Dominion Bank (NYSE:TD) has been given a consensus recommendation of “Buy” by the twelve brokerages that are covering the firm, Analyst Ratings.Net reports. The company’s quarterly revenue was up 8.0% compared to the same quarter a year ago.

Investors overlooked forecast-topping profits reported by Canadian banks this week, focusing instead on the lenders’ ability to grow in a weak economy reeling from depressed oil prices. During the same quarter previous year, the company posted $0.98 EPS.

Toronto-Dominion shares have dropped 14 per cent since the beginning of the year. Toronto-Dominion Bank has a 52-week low of $35.93 and a 52-week high of $48.11. Barclays decreased their target price on Toronto-Dominion Bank from $53.00 to $51.00 and set an “underweight” rating for the company in a research report on Thursday, September 10th. Keefe, Bruyette & Woods reduced their price objective on Toronto-Dominion Bank from $57.00 to $55.00 and set a “market perform” rating for the company in a research note on Tuesday, August 18th. The Bank serves approximately 20.5 million customers in four businesses operating in a number of locations in financial centres worldwide: Canadian Personal and Commercial Banking, including TD Canada Trust, TD Insurance, and TD Auto Finance Canada; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking, including TD Bank, and TD Auto Finance U.S.; and Wholesale Banking, including TD Securities.