Is A Beat In Store For Toronto Dominion (TD) In Q1 Earnings?
Zacks Investment Research | Feb 26, 2019 07:27AM ET
The Toronto Dominion Bank (TO:TD) is slated to announce first-quarter fiscal 2019 (ended Jan 31) results on Feb 28, before the opening bell. While its earnings are expected to grow year over year, revenues might decline.
Notably, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 4.9%.
In the last reported quarter, the company witnessed an upsurge in revenues, partially offset by rise in non-interest expenses and provisions for credit losses.
Notably, the Zacks Consensus Estimate for earnings of $1.31 for the fiscal first quarter shows a 6.5% increase on a year-over-year basis. However, the consensus estimate for sales is $7.35 billion, reflecting nearly 1% decline.
To know whether the Canada-based lender will be able to keep its earnings beat streak alive in the to-be-reported quarter as well, let’s take a look at what our quantitative model predicts:
Our proven model shows that Toronto Dominion has the right combination of the two key ingredients — positive Zacks Investment Research
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