On May 26, 2023, Darko Mihelic, an analyst from RBC Capital, has reiterated a Buy rating on Toronto Dominion Bank (TSX:TD). Furthermore, Mihelic raised the price target from C$95 to C$96.
The Toronto-Dominion Bank is a financial institution that provides financial products and services across three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers a wide range of financial products and services, including telephone, Internet, and mobile banking services.
As of May 26, 2023, the company’s market capitalization is 142.339B, and its PE Ratio (TTM) is 9.41.
TD Bank Stock Analysis: Strong Financial Performance and Undervalued Stock
On May 26, 2023, TD Bank’s stock opened at 57.08, slightly higher than its previous close of 57.06. Throughout the day, the stock fluctuated within a range of 56.99 to 57.65. The volume of shares traded was 971,310, which is significantly lower than the average volume of 2,347,983 over the past three months.
TD Bank’s market capitalization remains strong at $111.0B due to impressive earnings and revenue growth over the past year. In 2022, TD Bank’s earnings grew by 19.83%, and its revenue grew by 27.21%. While earnings growth has slowed slightly in 2023, the bank is still projected to experience a healthy earnings growth rate of 5.44% over the next five years.
TD Bank’s price-to-earnings (P/E) ratio is currently 9.5, which is lower than the industry average. The bank’s price-to-sales ratio is 2.38, and its price-to-book ratio is 1.51, suggesting that TD Bank’s stock is currently undervalued.
TD Bank is performing well compared to its peers in the broader finance industry. Looking ahead, TD Bank’s next reporting date is August 24, 2023, when the bank is expected to report earnings per share (EPS) of $1.56 for the current quarter. TD Bank’s annual revenue in 2022 was $48.7B, and its annual profit was $13.5B. The bank’s net profit margin was an impressive 27.79%.
Overall, TD Bank’s strong financial performance and undervalued stock suggest that it could be a good investment opportunity for those looking to invest in the finance industry.
TD Bank Stock Price on the Rise with Positive Analyst Ratings and Impressive Financial Results
Toronto-Dominion Bank (TD) has been performing well in the stock market, with its stock price on an upward trend. Analysts predict that the stock price will continue to rise in the coming months, with a median target of 66.00, indicating a 14.90% increase from its current price of 57.44. The bank has a positive rating among 6 polled investment analysts, who recommend buying stock in TD. TD’s recent financial results have been impressive, with earnings per share of $1.56 and sales of $9.2 billion in the current quarter. TD is set to report its next earnings on August 24. Investors should keep an eye on the earnings report to make informed decisions about their investments.
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