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Toronto-Dominion Bank (TD) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, Toronto-Dominion Bank (TD - Free Report) closed at $57.76, marking a -0.77% move from the previous day. This change lagged the S&P 500's 0.08% gain on the day. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq gained 0.07%.
The the stock of retail and wholesale bank has risen by 5.91% in the past month, leading the Finance sector's loss of 1.27% and the S&P 500's loss of 0.21%.
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 August 22, 2024. The company is forecasted to report an EPS of $1.48, showcasing no movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $10.15 billion, indicating a 6.64% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.86 per share and a revenue of $40.59 billion, signifying shifts of -1.01% and +8.82%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Toronto-Dominion Bank. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Toronto-Dominion Bank currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Toronto-Dominion Bank currently has a Forward P/E ratio of 9.93. This valuation marks a premium compared to its industry's average Forward P/E of 7.98.
We can also see that TD currently has a PEG ratio of 1.6. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Banks - Foreign industry was having an average PEG ratio of 0.88.
The Banks - Foreign industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 44, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Toronto-Dominion Bank (TD) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Toronto-Dominion Bank (TD - Free Report) closed at $57.76, marking a -0.77% move from the previous day. This change lagged the S&P 500's 0.08% gain on the day. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq gained 0.07%.
The the stock of retail and wholesale bank has risen by 5.91% in the past month, leading the Finance sector's loss of 1.27% and the S&P 500's loss of 0.21%.
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 August 22, 2024. The company is forecasted to report an EPS of $1.48, showcasing no movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $10.15 billion, indicating a 6.64% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.86 per share and a revenue of $40.59 billion, signifying shifts of -1.01% and +8.82%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Toronto-Dominion Bank. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Toronto-Dominion Bank currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Toronto-Dominion Bank currently has a Forward P/E ratio of 9.93. This valuation marks a premium compared to its industry's average Forward P/E of 7.98.
We can also see that TD currently has a PEG ratio of 1.6. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Banks - Foreign industry was having an average PEG ratio of 0.88.
The Banks - Foreign industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 44, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.