Could Toronto-Dominion Bank (TD) See a Reversal After Breaking Its 52-Week High?

September 17, 2017 - By Winifred Garcia

The stock of Toronto-Dominion Bank (NYSE:TD) hit a new 52-week high and has $60.34 target or 9.00 % above today’s $55.36 share price. The 7 months bullish chart indicates low risk for the $102.29B company. The 1-year high was reported on Sep, 17 by Barchart.com. If the $60.34 price target is reached, the company will be worth $9.21B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.24% or $0.13 on September 15, reaching $55.36. About 2.14M shares traded or 55.07% up from the average. Toronto-Dominion Bank (NYSE:TD) has risen 8.67% since September 17, 2016 and is uptrending. It has underperformed by 8.03% the S&P500.

Analysts await Toronto-Dominion Bank (NYSE:TD) to report earnings on December, 7. They expect $1.12 EPS, up 20.43 % or $0.19 from last year’s $0.93 per share. TD’s profit will be $2.07 billion for 12.36 P/E if the $1.12 EPS becomes a reality. After $1.14 actual EPS reported by Toronto-Dominion Bank for the previous quarter, Wall Street now forecasts -1.75 % negative EPS growth.

Toronto-Dominion Bank (NYSE:TD) Ratings Coverage

Among 10 analysts covering TD Bank (NYSE:TD), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. TD Bank had 22 analyst reports since August 12, 2015 according to SRatingsIntel. The company was upgraded on Friday, September 1 by National Bank Canada. The firm has “Sector Perform” rating given on Monday, March 13 by RBC Capital Markets. Scotia Capital maintained the stock with “Sector Perform” rating in Friday, August 28 report. The rating was upgraded by Barclays Capital on Tuesday, May 23 to “Equal-Weight”. Credit Suisse upgraded the shares of TD in report on Tuesday, May 3 to “Outperform” rating. The stock of Toronto-Dominion Bank (NYSE:TD) has “Neutral” rating given on Monday, September 21 by Credit Suisse. The firm has “Outperform” rating by BMO Capital Markets given on Monday, August 31. On Friday, August 26 the stock rating was downgraded by IBC to “Sector Performer”. As per Tuesday, November 1, the company rating was initiated by Bank of America. The firm has “Buy” rating by Citigroup given on Wednesday, September 14.

More notable recent Toronto-Dominion Bank (NYSE:TD) news were published by: Fool.ca which released: “Is Toronto-Dominion Bank the Best Banking Dividend Stock?” on September 05, 2017, also Nasdaq.com with their article: “Why Toronto Dominion Bank (TD) Could Be Positioned for a Surge?” published on September 15, 2017, Nasdaq.com published: “How Toronto Dominion Bank (TD) Stock Stands Out in a Strong Industry” on September 06, 2017. More interesting news about Toronto-Dominion Bank (NYSE:TD) were released by: Prnewswire.com and their article: “TD Bank Group Inaugural US$ Green Bond Upsized to US$1 Billion” published on September 12, 2017 as well as Prnewswire.com‘s news article titled: “TD contributes to Hurricane Irma relief with more than $600000 in financial …” with publication date: September 12, 2017.

Toronto-Dominion Bank is a Canada bank, which operates in the North America. The company has market cap of $102.29 billion. It is an online financial services firm, with over 10.2 million online and mobile customers. It has a 12.77 P/E ratio. The Company’s divisions include Canadian Retail, U.S.

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