Home  »  Business   »  A Bullish 2022 Outlook For The Toronto-Dominion Ba...

A Bullish 2022 Outlook For The Toronto-Dominion Bank (NYSE: TD) Shares

The Toronto-Dominion Bank (NYSE:TD) shares, rose in value on Thursday, August 04, with the stock price down by -0.89% to the previous day’s close as strong demand from buyers drove the stock to $64.75.

Actively observing the price movement in the recent trading, the stock is buoying the session at $65.33, falling within a range of $64.30 and $65.56. The value of beta (5-year monthly) is 0.91 whereas the PE ratio is 10.39 over 12-month period. Referring to stock’s 52-week performance, its high was $86.01, and the low was $58.64. On the whole, TD has fluctuated by 1.70% over the past month.

Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .

Sponsored

With the market capitalization of The Toronto-Dominion Bank currently standing at about $117.02 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 23, 2022 – Feb 28, 2022. The company’s Forward Dividend Ratio is 2.75, with its dividend yield at 4.20%.

Analysts have estimated the company’s revenue for the quarter at $8.86 billion, with a low estimate of $8.84 billion and a high estimate of $8.89 billion. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $34.38 billion, representing an increase of 2.80% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that TD’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 1.11, with the price of TD currently trading nearly 2.31% and -4.10% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.91, while the 7-day volatility ratio is showing 1.63% which for the 30-day chart, stands at 1.74%. Furthermore, The Toronto-Dominion Bank (TD)’s beta value is 0.94, and its average true range (ATR) is 1.31.

A comparison of The Toronto-Dominion Bank (TD) with its peers suggests the former has fared considerably weaker in the market. TD showed an intraday change of -0.89% in today’s session so far, and over the past year, it shrunk by -2.10%%. In comparison, Banco Santander S.A. (SAN) has moved higher at 0.20% today and is down -33.96% over the past 12 months. On the other hand, the price of Wells Fargo & Company (WFC) has fallen -1.62% today. The stock, however, is off -6.28% from where it was a year ago. Additionally, there is a loss of -0.36% for Royal Bank of Canada (RY) in recent trading while the stock has seen an overall depriciation of -2.37%% over the past year. The PE ratio stands at 10.39 for The Toronto-Dominion Bank, compared to 4.59 for Banco Santander S.A., and 10.53 for Wells Fargo & Company. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it lost -0.13%. Meanwhile, the Dow Jones Industrial Slipped by -0.19%.

Data on historical trading for The Toronto-Dominion Bank (NYSE:TD) indicates that the trading volumes over the past 10 days have averaged 1.5 million and over the past 3 months, they’ve averaged 2.37 million. According to company’s latest data on outstanding shares, there are 1.80 billion shares outstanding.

Nearly 0.09% of The Toronto-Dominion Bank’s shares belong to company insiders and institutional investors own 66.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 45.33 million shares as on Jul 14, 2022, resulting in a short ratio of 19.63. According to the data, the short interest in The Toronto-Dominion Bank (TD) stood at 2.51% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 17.97 million. The stock has fallen by -14.80% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TD stock heading into the next quarter.

Leave a Comment

Your email address will not be published.

[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]