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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 $60.79, moving -1.2% from the previous trading session. This move lagged the S&P 500's daily loss of 0.46%. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 6.06%.
Prior to today's trading, shares of the retail and wholesale bank had gained 3.8% over the past month. This has outpaced the Finance sector's gain of 0.53% and the S&P 500's gain of 0.85% 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 May 25, 2023. The company is expected to report EPS of $1.53, down 4.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.98 billion, down 24.54% from the year-ago period.
TD's full-year Zacks Consensus Estimates are calling for earnings of $6.45 per share and revenue of $36.79 billion. These results would represent year-over-year changes of -0.62% and -10.25%, respectively.
It is also important to note the recent changes to analyst estimates for Toronto-Dominion Bank. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.89% lower within the past month. Toronto-Dominion Bank is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Toronto-Dominion Bank has a Forward P/E ratio of 9.54 right now. This represents a premium compared to its industry's average Forward P/E of 7.47.
We can also see that TD currently has a PEG ratio of 1.19. 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 industry currently had an average PEG ratio of 0.97 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% 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.
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) Dips More Than Broader Markets: What You Should Know
Toronto-Dominion Bank (TD - Free Report) closed the most recent trading day at $60.79, moving -1.2% from the previous trading session. This move lagged the S&P 500's daily loss of 0.46%. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 6.06%.
Prior to today's trading, shares of the retail and wholesale bank had gained 3.8% over the past month. This has outpaced the Finance sector's gain of 0.53% and the S&P 500's gain of 0.85% 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 May 25, 2023. The company is expected to report EPS of $1.53, down 4.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.98 billion, down 24.54% from the year-ago period.
TD's full-year Zacks Consensus Estimates are calling for earnings of $6.45 per share and revenue of $36.79 billion. These results would represent year-over-year changes of -0.62% and -10.25%, respectively.
It is also important to note the recent changes to analyst estimates for Toronto-Dominion Bank. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.89% lower within the past month. Toronto-Dominion Bank is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Toronto-Dominion Bank has a Forward P/E ratio of 9.54 right now. This represents a premium compared to its industry's average Forward P/E of 7.47.
We can also see that TD currently has a PEG ratio of 1.19. 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 industry currently had an average PEG ratio of 0.97 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.