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Toronto-Dominion Bank (TD) closed at $63.45 in the latest trading session, marking a -0.64% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.77%. On the other hand, the Dow registered a loss of 0.95%, and the technology-centric Nasdaq decreased by 0.87%.
Shares of the retail and wholesale bank have appreciated by 14.63% over the course of the past month, outperforming the Finance sector's gain of 10.67% and the S&P 500's gain of 11.54%.
Analysts and investors alike will be keeping a close eye on the performance of Toronto-Dominion Bank in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.25, signifying a 16.67% drop compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.38 per share and revenue of $42.17 billion, which would represent changes of -6.27% and +0.47%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Toronto-Dominion Bank. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 0.22% decrease. Toronto-Dominion Bank currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Toronto-Dominion Bank is holding a Forward P/E ratio of 11.86. This signifies a premium in comparison to the average Forward P/E of 9.64 for its industry.
One should further note that TD currently holds a PEG ratio of 1.62. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Banks - Foreign industry was having an average PEG ratio of 0.95.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.