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Toronto-Dominion Bank (TD) Outperforms Broader Market: What You Need to Know
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The most recent trading session ended with Toronto-Dominion Bank (TD - Free Report) standing at $56.62, reflecting a +0.87% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.17% gain on the day. Meanwhile, the Dow experienced a rise of 0.32%, and the technology-dominated Nasdaq saw a decrease of 0.03%.
The retail and wholesale bank's shares have seen a decrease of 2.86% over the last month, not keeping up with the Finance sector's loss of 0.07% and the S&P 500's gain of 0.17%.
Investors will be eagerly watching for the performance of Toronto-Dominion Bank in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 23, 2024. In that report, analysts expect Toronto-Dominion Bank to post earnings of $1.36 per share. This would mark a year-over-year decline of 4.9%. Alongside, our most recent consensus estimate is anticipating revenue of $9.9 billion, indicating an 8.59% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.76 per share and revenue of $40.51 billion, which would represent changes of -2.7% and +8.59%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Toronto-Dominion Bank. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.68% decrease. Toronto-Dominion Bank is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Toronto-Dominion Bank is presently being traded at a Forward P/E ratio of 9.75. This valuation marks a premium compared to its industry's average Forward P/E of 8.03.
It's also important to note that TD currently trades at a PEG ratio of 1.76. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Banks - Foreign stocks are, on average, holding a PEG ratio of 0.97 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. With its current Zacks Industry Rank of 98, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Toronto-Dominion Bank (TD) Outperforms Broader Market: What You Need to Know
The most recent trading session ended with Toronto-Dominion Bank (TD - Free Report) standing at $56.62, reflecting a +0.87% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.17% gain on the day. Meanwhile, the Dow experienced a rise of 0.32%, and the technology-dominated Nasdaq saw a decrease of 0.03%.
The retail and wholesale bank's shares have seen a decrease of 2.86% over the last month, not keeping up with the Finance sector's loss of 0.07% and the S&P 500's gain of 0.17%.
Investors will be eagerly watching for the performance of Toronto-Dominion Bank in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 23, 2024. In that report, analysts expect Toronto-Dominion Bank to post earnings of $1.36 per share. This would mark a year-over-year decline of 4.9%. Alongside, our most recent consensus estimate is anticipating revenue of $9.9 billion, indicating an 8.59% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.76 per share and revenue of $40.51 billion, which would represent changes of -2.7% and +8.59%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Toronto-Dominion Bank. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.68% decrease. Toronto-Dominion Bank is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Toronto-Dominion Bank is presently being traded at a Forward P/E ratio of 9.75. This valuation marks a premium compared to its industry's average Forward P/E of 8.03.
It's also important to note that TD currently trades at a PEG ratio of 1.76. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Banks - Foreign stocks are, on average, holding a PEG ratio of 0.97 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. With its current Zacks Industry Rank of 98, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.