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Toronto-Dominion Bank (TD) Outpaces Stock Market Gains: What You Should Know
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Toronto-Dominion Bank (TD - Free Report) closed at $61.58 in the latest trading session, marking a +1.37% move from the prior day. This change outpaced the S&P 500's 0.3% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.74%.
Coming into today, shares of the retail and wholesale bank had lost 0.13% in the past month. In that same time, the Finance sector lost 1.14%, while the S&P 500 gained 0.85%.
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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.48 per share and revenue of $36.79 billion. These totals would mark changes of -0.15% and -10.25%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Toronto-Dominion Bank. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 1.43% lower. Toronto-Dominion Bank is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Toronto-Dominion Bank is currently trading at a Forward P/E ratio of 9.38. This represents a premium compared to its industry's average Forward P/E of 7.34.
We can also see that TD currently has a PEG ratio of 1.17. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Foreign was holding an average PEG ratio of 0.98 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 117, which puts it in the top 47% 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) Outpaces Stock Market Gains: What You Should Know
Toronto-Dominion Bank (TD - Free Report) closed at $61.58 in the latest trading session, marking a +1.37% move from the prior day. This change outpaced the S&P 500's 0.3% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.74%.
Coming into today, shares of the retail and wholesale bank had lost 0.13% in the past month. In that same time, the Finance sector lost 1.14%, while the S&P 500 gained 0.85%.
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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.48 per share and revenue of $36.79 billion. These totals would mark changes of -0.15% and -10.25%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Toronto-Dominion Bank. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 1.43% lower. Toronto-Dominion Bank is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Toronto-Dominion Bank is currently trading at a Forward P/E ratio of 9.38. This represents a premium compared to its industry's average Forward P/E of 7.34.
We can also see that TD currently has a PEG ratio of 1.17. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Foreign was holding an average PEG ratio of 0.98 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 117, which puts it in the top 47% 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.