Toronto-Dominion Bank (TD) closed the latest trading day at $56.64, indicating a -1.58% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 3.46% for the day. Elsewhere, the Dow saw a downswing of 2.5%, while the tech-heavy Nasdaq depreciated by 4.31%.
Coming into today, shares of the retail and wholesale bank had lost 1.34% in the past month. In that same time, the Finance sector lost 4.33%, while the S&P 500 lost 5.27%.
The investment community will be paying close attention to the earnings performance of Toronto-Dominion Bank in its upcoming release. On that day, Toronto-Dominion Bank is projected to report earnings of $1.25 per share, which would represent a year-over-year decline of 16.67%.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.38 per share and a revenue of $42.17 billion, signifying shifts of -6.27% and +0.47%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Toronto-Dominion Bank. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.22% decrease. At present, Toronto-Dominion Bank boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Toronto-Dominion Bank has a Forward P/E ratio of 10.38 right now. This expresses a premium compared to the average Forward P/E of 7.84 of its industry.
Meanwhile, TD's PEG ratio is currently 1.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Foreign was holding an average PEG ratio of 0.9 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 22, finds itself in the top 9% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Toronto Dominion Bank (The) (TD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
