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Toronto-Dominion Bank (TD) Stock Moves -1.55%: What You Should Know
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Toronto-Dominion Bank (TD - Free Report) ended the recent trading session at $55.81, demonstrating a -1.55% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 3%. Elsewhere, the Dow saw a downswing of 2.6%, while the tech-heavy Nasdaq depreciated by 3.43%.
Prior to today's trading, shares of the retail and wholesale bank had gained 2.64% over the past month. This has outpaced the Finance sector's gain of 0.89% and the S&P 500's loss of 2.92% in that time.
Market participants will be closely following the financial results of Toronto-Dominion Bank in its upcoming release. The company plans to announce its earnings 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. At the same time, our most recent consensus estimate is projecting a revenue of $10.15 billion, reflecting a 6.64% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.86 per share and a revenue of $40.59 billion, indicating changes of -1.01% and +8.82%, respectively, from the former year.
Any recent changes to analyst estimates for Toronto-Dominion Bank should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Toronto-Dominion Bank is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Toronto-Dominion Bank is currently exchanging hands at a Forward P/E ratio of 9.67. This indicates a premium in contrast to its industry's Forward P/E of 7.61.
We can also see that TD currently has a PEG ratio of 1.56. 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. As the market closed yesterday, the Banks - Foreign industry was having an average PEG ratio of 0.81.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 41, which puts it in the top 17% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Toronto-Dominion Bank (TD) Stock Moves -1.55%: What You Should Know
Toronto-Dominion Bank (TD - Free Report) ended the recent trading session at $55.81, demonstrating a -1.55% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 3%. Elsewhere, the Dow saw a downswing of 2.6%, while the tech-heavy Nasdaq depreciated by 3.43%.
Prior to today's trading, shares of the retail and wholesale bank had gained 2.64% over the past month. This has outpaced the Finance sector's gain of 0.89% and the S&P 500's loss of 2.92% in that time.
Market participants will be closely following the financial results of Toronto-Dominion Bank in its upcoming release. The company plans to announce its earnings 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. At the same time, our most recent consensus estimate is projecting a revenue of $10.15 billion, reflecting a 6.64% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.86 per share and a revenue of $40.59 billion, indicating changes of -1.01% and +8.82%, respectively, from the former year.
Any recent changes to analyst estimates for Toronto-Dominion Bank should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Toronto-Dominion Bank is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Toronto-Dominion Bank is currently exchanging hands at a Forward P/E ratio of 9.67. This indicates a premium in contrast to its industry's Forward P/E of 7.61.
We can also see that TD currently has a PEG ratio of 1.56. 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. As the market closed yesterday, the Banks - Foreign industry was having an average PEG ratio of 0.81.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 41, which puts it in the top 17% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.