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Toronto-Dominion Bank (TD) Stock Moves -0.02%: What You Should Know
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Toronto-Dominion Bank (TD - Free Report) closed the latest trading day at $56.88, indicating a -0.02% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.21%. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw a decrease of 0.26%.
The the stock of retail and wholesale bank has risen by 0.12% in the past month, lagging the Finance sector's gain of 6.15% and the S&P 500's gain of 5.04%.
The upcoming earnings release of Toronto-Dominion Bank will be of great interest to investors. The company's earnings report is expected on May 23, 2024. The company's earnings per share (EPS) are projected to be $1.36, reflecting a 4.9% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $9.9 billion, indicating an 8.59% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $5.76 per share and a revenue of $40.51 billion, demonstrating changes of -2.7% and +8.59%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Toronto-Dominion Bank. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 1.68% lower within the past month. Toronto-Dominion Bank is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Toronto-Dominion Bank is holding a Forward P/E ratio of 9.89. For comparison, its industry has an average Forward P/E of 8.22, which means Toronto-Dominion Bank is trading at a premium to the group.
One should further note that TD currently holds a PEG ratio of 1.78. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Banks - Foreign industry was having an average PEG ratio of 1.02.
The Banks - Foreign industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 94, finds itself in the top 38% echelons of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Toronto-Dominion Bank (TD) Stock Moves -0.02%: What You Should Know
Toronto-Dominion Bank (TD - Free Report) closed the latest trading day at $56.88, indicating a -0.02% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.21%. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw a decrease of 0.26%.
The the stock of retail and wholesale bank has risen by 0.12% in the past month, lagging the Finance sector's gain of 6.15% and the S&P 500's gain of 5.04%.
The upcoming earnings release of Toronto-Dominion Bank will be of great interest to investors. The company's earnings report is expected on May 23, 2024. The company's earnings per share (EPS) are projected to be $1.36, reflecting a 4.9% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $9.9 billion, indicating an 8.59% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $5.76 per share and a revenue of $40.51 billion, demonstrating changes of -2.7% and +8.59%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Toronto-Dominion Bank. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 1.68% lower within the past month. Toronto-Dominion Bank is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Toronto-Dominion Bank is holding a Forward P/E ratio of 9.89. For comparison, its industry has an average Forward P/E of 8.22, which means Toronto-Dominion Bank is trading at a premium to the group.
One should further note that TD currently holds a PEG ratio of 1.78. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Banks - Foreign industry was having an average PEG ratio of 1.02.
The Banks - Foreign industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 94, finds itself in the top 38% echelons of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.