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Toronto-Dominion Bank (TD) Gains As Market Dips: What You Should Know

Toronto-Dominion Bank (TD) closed the most recent trading day at $64.77, moving +0.45% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.12%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.41%.

Coming into today, shares of the retail and wholesale bank had gained 0.44% in the past month. In that same time, the Finance sector gained 6.16%, while the S&P 500 gained 8.25%.

Toronto-Dominion Bank will be looking to display strength as it nears its next earnings release, which is expected to be August 25, 2022. The company is expected to report EPS of $1.59, down 0.63% from the prior-year quarter.

TD's full-year Zacks Consensus Estimates are calling for earnings of $6.40 per share and revenue of $33.12 billion. These results would represent year-over-year changes of +1.75% and -2.44%, respectively.

Investors might also notice recent changes to analyst estimates for Toronto-Dominion Bank. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 0.19% lower within the past month. Toronto-Dominion Bank is holding a Zacks Rank of #4 (Sell) right now.

Digging into valuation, Toronto-Dominion Bank currently has a Forward P/E ratio of 10.07. For comparison, its industry has an average Forward P/E of 8.27, which means Toronto-Dominion Bank is trading at a premium to the group.

Meanwhile, TD's PEG ratio is currently 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. TD's industry had an average PEG ratio of 0.79 as of yesterday's close.

The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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