12:54 PM EST, 03/01/2024 (MT Newswires) -- TD reported Q1/24 cash EPS of $2.00 vs. National Bank's $1.99 forecast and consensus of $1.93.
Key Takeaways:
TD's quarter was in line with National's expectations. Beyond the quarter, analyst Gabriel Dechaine believes there are two primary issues that could weigh on stock performance. For starters, the U.S. business had a challenging quarter, which may be a persistent issue given top-line headwinds facing this segment. Second, uncertainty regarding AML/compliance issues in the U.S. business has only intensified. As long as this uncertainty exists, Dechaine believes investors will maintain cautious positioning vis--vis the stock.
On the brighter side, TD repurchased 21 million shares during the quarter, and remains committed to repurchasing the full 90 million capacity, which should limit downside risk over the next two quarters.
TD is rated Outperform, with a $92 target.
Price: 81.45, Change: -0.04, Percent Change: -0.05