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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 $60.40, moving +1.5% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.96%. Elsewhere, the Dow gained 1.57%, while the tech-heavy Nasdaq lost 3.03%.
Coming into today, shares of the retail and wholesale bank had gained 0.49% in the past month. In that same time, the Finance sector gained 3.14%, while the S&P 500 gained 2.19%.
Wall Street will be looking for positivity from Toronto-Dominion Bank as it approaches its next earnings report date. This is expected to be May 25, 2023. The company is expected to report EPS of $1.56, down 2.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.1 billion, down 23.56% from the year-ago period.
TD's full-year Zacks Consensus Estimates are calling for earnings of $6.57 per share and revenue of $37.25 billion. These results would represent year-over-year changes of +1.23% and -9.13%, respectively.
Any recent changes to analyst estimates for Toronto-Dominion Bank should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.9% lower within the past month. Toronto-Dominion Bank is currently a Zacks Rank #3 (Hold).
Investors should also note Toronto-Dominion Bank's current valuation metrics, including its Forward P/E ratio of 9.05. This valuation marks a premium compared to its industry's average Forward P/E of 7.2.
It is also worth noting that TD currently has a PEG ratio of 1.13. 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. TD's industry had an average PEG ratio of 0.99 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 52, which puts it in the top 21% 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.
To follow TD in the coming trading sessions, be sure to utilize 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 $60.40, moving +1.5% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.96%. Elsewhere, the Dow gained 1.57%, while the tech-heavy Nasdaq lost 3.03%.
Coming into today, shares of the retail and wholesale bank had gained 0.49% in the past month. In that same time, the Finance sector gained 3.14%, while the S&P 500 gained 2.19%.
Wall Street will be looking for positivity from Toronto-Dominion Bank as it approaches its next earnings report date. This is expected to be May 25, 2023. The company is expected to report EPS of $1.56, down 2.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.1 billion, down 23.56% from the year-ago period.
TD's full-year Zacks Consensus Estimates are calling for earnings of $6.57 per share and revenue of $37.25 billion. These results would represent year-over-year changes of +1.23% and -9.13%, respectively.
Any recent changes to analyst estimates for Toronto-Dominion Bank should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.9% lower within the past month. Toronto-Dominion Bank is currently a Zacks Rank #3 (Hold).
Investors should also note Toronto-Dominion Bank's current valuation metrics, including its Forward P/E ratio of 9.05. This valuation marks a premium compared to its industry's average Forward P/E of 7.2.
It is also worth noting that TD currently has a PEG ratio of 1.13. 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. TD's industry had an average PEG ratio of 0.99 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 52, which puts it in the top 21% 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.
To follow TD in the coming trading sessions, be sure to utilize Zacks.com.