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Toronto-Dominion Bank (TD) Gains As Market Dips: What You Should Know
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Toronto-Dominion Bank (TD - Free Report) closed at $71.72 in the latest trading session, marking a +0.83% move from the prior day. This change outpaced the S&P 500's 0.4% loss on the day. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 0.19%.
Coming into today, shares of the retail and wholesale bank had lost 4.52% in the past month. In that same time, the Finance sector lost 9.6%, while the S&P 500 lost 9.39%.
Investors will be hoping for strength from Toronto-Dominion Bank as it approaches its next earnings release, which is expected to be May 26, 2022. The company is expected to report EPS of $1.55, down 4.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.37 per share and revenue of $33.24 billion. These totals would mark changes of +1.27% and -2.08%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Toronto-Dominion Bank. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.31% lower. Toronto-Dominion Bank is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Toronto-Dominion Bank is currently trading at a Forward P/E ratio of 11.17. For comparison, its industry has an average Forward P/E of 9, which means Toronto-Dominion Bank is trading at a premium to the group.
Investors should also note that TD has a PEG ratio of 1.36 right now. 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. TD's industry had an average PEG ratio of 0.71 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Toronto-Dominion Bank (TD) Gains As Market Dips: What You Should Know
Toronto-Dominion Bank (TD - Free Report) closed at $71.72 in the latest trading session, marking a +0.83% move from the prior day. This change outpaced the S&P 500's 0.4% loss on the day. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 0.19%.
Coming into today, shares of the retail and wholesale bank had lost 4.52% in the past month. In that same time, the Finance sector lost 9.6%, while the S&P 500 lost 9.39%.
Investors will be hoping for strength from Toronto-Dominion Bank as it approaches its next earnings release, which is expected to be May 26, 2022. The company is expected to report EPS of $1.55, down 4.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.37 per share and revenue of $33.24 billion. These totals would mark changes of +1.27% and -2.08%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Toronto-Dominion Bank. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.31% lower. Toronto-Dominion Bank is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Toronto-Dominion Bank is currently trading at a Forward P/E ratio of 11.17. For comparison, its industry has an average Forward P/E of 9, which means Toronto-Dominion Bank is trading at a premium to the group.
Investors should also note that TD has a PEG ratio of 1.36 right now. 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. TD's industry had an average PEG ratio of 0.71 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.