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Toronto-Dominion Bank (TD) Ascends But Remains Behind Market: Some Facts to Note
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In the latest trading session, Toronto-Dominion Bank (TD - Free Report) closed at $57.79, marking a +1.16% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.69%. On the other hand, the Dow registered a gain of 1.04%, and the technology-centric Nasdaq increased by 2.43%.
The retail and wholesale bank's stock has dropped by 0.21% in the past month, exceeding the Finance sector's loss of 1.73% and the S&P 500's loss of 4.78%.
The investment community will be paying close attention to the earnings performance of Toronto-Dominion Bank in its upcoming release. The company is slated to reveal its earnings on August 22, 2024. The company is predicted to post an EPS of $1.51, indicating a 2.03% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $10.15 billion, indicating a 6.64% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.87 per share and a revenue of $40.76 billion, signifying shifts of -0.84% and +9.26%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Toronto-Dominion Bank. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% increase. Right now, Toronto-Dominion Bank possesses a Zacks Rank of #3 (Hold).
Investors should also note Toronto-Dominion Bank's current valuation metrics, including its Forward P/E ratio of 9.73. This denotes a premium relative to the industry's average Forward P/E of 7.67.
It is also worth noting that TD currently has a PEG ratio of 1.57. 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 0.84.
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 individual 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) Ascends But Remains Behind Market: Some Facts to Note
In the latest trading session, Toronto-Dominion Bank (TD - Free Report) closed at $57.79, marking a +1.16% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.69%. On the other hand, the Dow registered a gain of 1.04%, and the technology-centric Nasdaq increased by 2.43%.
The retail and wholesale bank's stock has dropped by 0.21% in the past month, exceeding the Finance sector's loss of 1.73% and the S&P 500's loss of 4.78%.
The investment community will be paying close attention to the earnings performance of Toronto-Dominion Bank in its upcoming release. The company is slated to reveal its earnings on August 22, 2024. The company is predicted to post an EPS of $1.51, indicating a 2.03% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $10.15 billion, indicating a 6.64% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.87 per share and a revenue of $40.76 billion, signifying shifts of -0.84% and +9.26%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Toronto-Dominion Bank. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% increase. Right now, Toronto-Dominion Bank possesses a Zacks Rank of #3 (Hold).
Investors should also note Toronto-Dominion Bank's current valuation metrics, including its Forward P/E ratio of 9.73. This denotes a premium relative to the industry's average Forward P/E of 7.67.
It is also worth noting that TD currently has a PEG ratio of 1.57. 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 0.84.
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 individual 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.