Cormark Cuts Toronto-Dominion Bank (TSE:TD) Price Target to C$91.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective reduced by Cormark from C$93.00 to C$91.00 in a research report issued on Friday, BayStreet.CA reports. Cormark’s price objective suggests a potential upside of 15.56% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Scotiabank reduced their price objective on shares of Toronto-Dominion Bank from C$87.00 to C$86.00 in a research report on Monday, August 19th. Desjardins decreased their price objective on Toronto-Dominion Bank from C$91.00 to C$90.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$88.00 to C$82.00 in a research note on Friday. UBS Group set a C$82.00 price objective on Toronto-Dominion Bank and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group increased their target price on shares of Toronto-Dominion Bank from C$73.00 to C$82.00 and gave the company a “hold” rating in a report on Monday, August 12th. 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. Based on data from MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Moderate Buy” and an average price target of C$86.65.

Toronto-Dominion Bank Price Performance

Shares of TD stock traded down C$3.01 on Friday, hitting C$78.75. The stock had a trading volume of 11,782,167 shares, compared to its average volume of 7,367,702. The firm has a market capitalization of C$137.81 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.08 and a beta of 0.82. The company’s 50 day moving average price is C$82.47 and its 200-day moving average price is C$79.47. Toronto-Dominion Bank has a 1 year low of C$73.67 and a 1 year high of C$87.99.

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

About Toronto-Dominion Bank

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.