Earlier today, TD Bank (TSE:TD) (NYSE:TD) announced that it projects a contribution of approximately C$182 million in reported equity net income from its Charles Schwab (NYSE:SCHW) investment for the upcoming third quarter. This expectation includes after-tax acquisition-related charges of about C$16 million and the amortization of acquired intangibles amounting to roughly C$30 million after-tax.
After removing these items, the Bank’s adjusted equity in Schwab’s net income is predicted to reach about C$228 million in the third quarter.
Schwab recently reported earnings per share of US$0.75, down 23% from last year. Its adjusted profit for the quarter ending June 30 was US$1.5 billion, down from the previous year’s US$2 billion for the corresponding quarter.
Is TD Stock a Buy, According to Analysts?
According to analysts, TD stock comes in as a Moderate Buy based on seven Buys and three Holds assigned in the past three months. The average TD stock price target of C$90.62 implies 5.75% upside potential.
If you’re wondering which analyst you should follow if you want to buy and sell TD stock, the most profitable analyst covering the stock (on a one-year timeframe) is Darko Mihelic of RBC Capital, with an average return of 10.91% per rating and a 65% success rate. See below.
