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Toronto-Dominion Bank (TD) Stock Moves -0.32%: What You Should Know
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Toronto-Dominion Bank (TD - Free Report) closed at $69.04 in the latest trading session, marking a -0.32% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.11%. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 2.13%.
Heading into today, shares of the retail and wholesale bank had gained 8.13% over the past month, outpacing the Finance sector's gain of 5.5% and the S&P 500's gain of 7% in that time.
Wall Street will be looking for positivity from Toronto-Dominion Bank as it approaches its next earnings report date. This 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%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.67 per share and revenue of $37.58 billion. These totals would mark changes of +2.77% and -8.33%, respectively, from last year.
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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.33% higher. Toronto-Dominion Bank is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Toronto-Dominion Bank is holding a Forward P/E ratio of 10.39. For comparison, its industry has an average Forward P/E of 8.06, which means Toronto-Dominion Bank is trading at a premium to the group.
Investors should also note that TD has a PEG ratio of 1.32 right now. 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. TD's industry had an average PEG ratio of 0.84 as of yesterday's close.
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 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Toronto-Dominion Bank (TD) Stock Moves -0.32%: What You Should Know
Toronto-Dominion Bank (TD - Free Report) closed at $69.04 in the latest trading session, marking a -0.32% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.11%. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 2.13%.
Heading into today, shares of the retail and wholesale bank had gained 8.13% over the past month, outpacing the Finance sector's gain of 5.5% and the S&P 500's gain of 7% in that time.
Wall Street will be looking for positivity from Toronto-Dominion Bank as it approaches its next earnings report date. This 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%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.67 per share and revenue of $37.58 billion. These totals would mark changes of +2.77% and -8.33%, respectively, from last year.
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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.33% higher. Toronto-Dominion Bank is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Toronto-Dominion Bank is holding a Forward P/E ratio of 10.39. For comparison, its industry has an average Forward P/E of 8.06, which means Toronto-Dominion Bank is trading at a premium to the group.
Investors should also note that TD has a PEG ratio of 1.32 right now. 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. TD's industry had an average PEG ratio of 0.84 as of yesterday's close.
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 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.