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Toronto-Dominion Bank (TD) Dips More Than Broader Markets: What You Should Know
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Toronto-Dominion Bank (TD - Free Report) closed the most recent trading day at $69.84, moving -0.41% from the previous trading session. This change lagged the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, added 3.16%.
Heading into today, shares of the retail and wholesale bank had gained 5.7% over the past month, outpacing the Finance sector's gain of 2.23% and the S&P 500's gain of 3.6% 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. The company is expected to report EPS of $1.63, down 0.61% from the prior-year quarter.
TD's full-year Zacks Consensus Estimates are calling for earnings of $6.70 per share and revenue of $37.58 billion. These results would represent year-over-year changes of +3.24% and -8.33%, respectively.
It is also important to note the recent changes to analyst estimates for Toronto-Dominion Bank. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.87% higher. Toronto-Dominion Bank currently has a Zacks Rank of #2 (Buy).
Investors should also note Toronto-Dominion Bank's current valuation metrics, including its Forward P/E ratio of 10.46. This represents a premium compared to its industry's average Forward P/E of 8.14.
Also, we should mention that TD has a PEG ratio of 1.33. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Banks - Foreign stocks are, on average, holding a PEG ratio of 0.86 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Toronto-Dominion Bank (TD) Dips More Than Broader Markets: What You Should Know
Toronto-Dominion Bank (TD - Free Report) closed the most recent trading day at $69.84, moving -0.41% from the previous trading session. This change lagged the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, added 3.16%.
Heading into today, shares of the retail and wholesale bank had gained 5.7% over the past month, outpacing the Finance sector's gain of 2.23% and the S&P 500's gain of 3.6% 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. The company is expected to report EPS of $1.63, down 0.61% from the prior-year quarter.
TD's full-year Zacks Consensus Estimates are calling for earnings of $6.70 per share and revenue of $37.58 billion. These results would represent year-over-year changes of +3.24% and -8.33%, respectively.
It is also important to note the recent changes to analyst estimates for Toronto-Dominion Bank. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.87% higher. Toronto-Dominion Bank currently has a Zacks Rank of #2 (Buy).
Investors should also note Toronto-Dominion Bank's current valuation metrics, including its Forward P/E ratio of 10.46. This represents a premium compared to its industry's average Forward P/E of 8.14.
Also, we should mention that TD has a PEG ratio of 1.33. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Banks - Foreign stocks are, on average, holding a PEG ratio of 0.86 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.