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Toronto-Dominion Bank (TD) Stock Moves -1.42%: What You Should Know
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Toronto-Dominion Bank (TD - Free Report) closed at $59.82 in the latest trading session, marking a -1.42% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.8%. Meanwhile, the Dow lost 2.11%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Prior to today's trading, shares of the retail and wholesale bank had lost 7.85% over the past month. This has lagged the Finance sector's loss of 4.31% and the S&P 500's loss of 4.08% in that time.
Toronto-Dominion Bank will be looking to display strength as it nears its next earnings release. On that day, Toronto-Dominion Bank is projected to report earnings of $1.55 per share, which would represent a year-over-year decline of 6.63%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.24 per share and revenue of $33.21 billion, which would represent changes of -0.79% and -2.18%, respectively, from the prior year.
Any recent changes to analyst estimates for Toronto-Dominion Bank should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.55% lower within the past month. Toronto-Dominion Bank is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Toronto-Dominion Bank has a Forward P/E ratio of 9.72 right now. This represents a premium compared to its industry's average Forward P/E of 7.33.
It is also worth noting that TD currently has a PEG ratio of 1.38. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Foreign was holding an average PEG ratio of 0.79 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Toronto-Dominion Bank (TD) Stock Moves -1.42%: What You Should Know
Toronto-Dominion Bank (TD - Free Report) closed at $59.82 in the latest trading session, marking a -1.42% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.8%. Meanwhile, the Dow lost 2.11%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Prior to today's trading, shares of the retail and wholesale bank had lost 7.85% over the past month. This has lagged the Finance sector's loss of 4.31% and the S&P 500's loss of 4.08% in that time.
Toronto-Dominion Bank will be looking to display strength as it nears its next earnings release. On that day, Toronto-Dominion Bank is projected to report earnings of $1.55 per share, which would represent a year-over-year decline of 6.63%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.24 per share and revenue of $33.21 billion, which would represent changes of -0.79% and -2.18%, respectively, from the prior year.
Any recent changes to analyst estimates for Toronto-Dominion Bank should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.55% lower within the past month. Toronto-Dominion Bank is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Toronto-Dominion Bank has a Forward P/E ratio of 9.72 right now. This represents a premium compared to its industry's average Forward P/E of 7.33.
It is also worth noting that TD currently has a PEG ratio of 1.38. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Foreign was holding an average PEG ratio of 0.79 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.