Barclays Downgrades Toronto-Dominion Bank (TSE:TD) to Strong Sell

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) was downgraded by analysts at Barclays from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

Other analysts have also issued research reports about the company. Scotiabank dropped their price target on Toronto-Dominion Bank from C$87.00 to C$86.00 in a research note on Monday, August 19th. National Bankshares raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating and raised their price target for the stock from C$74.00 to C$78.00 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. Cormark dropped their price target on Toronto-Dominion Bank from C$93.00 to C$91.00 in a research note on Friday, October 11th. Finally, 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$87.23.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at C$78.51 on Thursday. Toronto-Dominion Bank has a 52-week low of C$73.67 and a 52-week high of C$87.99. The stock has a market capitalization of C$137.39 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.22 and a beta of 0.82. The company’s 50 day moving average price is C$81.33 and its 200-day moving average price is C$79.09.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its earnings results on Thursday, August 22nd. The company reported C$2.05 earnings per share (EPS) 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 firm had revenue of C$14.18 billion during the quarter, compared to the consensus estimate of C$14.12 billion. As a group, equities research analysts forecast that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal 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.