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Toronto-Dominion Bank (TD) Gains But Lags Market: What You Should Know
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Toronto-Dominion Bank (TD - Free Report) closed the most recent trading day at $69.05, moving +0.31% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.47%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 7.94%.
Prior to today's trading, shares of the retail and wholesale bank had gained 4.52% over the past month. This has lagged the Finance sector's gain of 8.23% and the S&P 500's gain of 7.41% in that time.
Investors will be hoping for strength from Toronto-Dominion Bank as it approaches its next earnings release, which is expected to be March 2, 2023. In that report, analysts expect Toronto-Dominion Bank to post earnings of $1.63 per share. This would mark a year-over-year decline of 0.61%.
TD's full-year Zacks Consensus Estimates are calling for earnings of $6.67 per share and revenue of $37.58 billion. These results would represent year-over-year changes of +2.77% and -8.33%, respectively.
Investors might also notice recent changes to analyst estimates for Toronto-Dominion Bank. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.33% higher. Toronto-Dominion Bank is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Toronto-Dominion Bank is holding a Forward P/E ratio of 10.32. Its industry sports an average Forward P/E of 8.54, so we one might conclude that Toronto-Dominion Bank is trading at a premium comparatively.
We can also see that TD currently has a PEG ratio of 1.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Foreign was holding an average PEG ratio of 0.89 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Toronto-Dominion Bank (TD) Gains But Lags Market: What You Should Know
Toronto-Dominion Bank (TD - Free Report) closed the most recent trading day at $69.05, moving +0.31% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.47%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 7.94%.
Prior to today's trading, shares of the retail and wholesale bank had gained 4.52% over the past month. This has lagged the Finance sector's gain of 8.23% and the S&P 500's gain of 7.41% in that time.
Investors will be hoping for strength from Toronto-Dominion Bank as it approaches its next earnings release, which is expected to be March 2, 2023. In that report, analysts expect Toronto-Dominion Bank to post earnings of $1.63 per share. This would mark a year-over-year decline of 0.61%.
TD's full-year Zacks Consensus Estimates are calling for earnings of $6.67 per share and revenue of $37.58 billion. These results would represent year-over-year changes of +2.77% and -8.33%, respectively.
Investors might also notice recent changes to analyst estimates for Toronto-Dominion Bank. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.33% higher. Toronto-Dominion Bank is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Toronto-Dominion Bank is holding a Forward P/E ratio of 10.32. Its industry sports an average Forward P/E of 8.54, so we one might conclude that Toronto-Dominion Bank is trading at a premium comparatively.
We can also see that TD currently has a PEG ratio of 1.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Foreign was holding an average PEG ratio of 0.89 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.