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Teck Resources Ltd (TECK) Gains As Market Dips: What You Should Know
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In the latest trading session, Teck Resources Ltd (TECK - Free Report) closed at $33.22, marking a +1.47% move from the previous day. This change outpaced the S&P 500's 2.01% loss on the day. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the company had lost 24.23% over the past month, lagging the Basic Materials sector's loss of 15.03% and the S&P 500's loss of 6.08% in that time.
Wall Street will be looking for positivity from Teck Resources Ltd as it approaches its next earnings report date. This is expected to be July 26, 2022. The company is expected to report EPS of $2.34, up 358.82% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4 billion, up 92.09% from the prior-year quarter.
TECK's full-year Zacks Consensus Estimates are calling for earnings of $7.37 per share and revenue of $15.11 billion. These results would represent year-over-year changes of +63.05% and +40.65%, respectively.
It is also important to note the recent changes to analyst estimates for Teck Resources Ltd. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.8% lower. Teck Resources Ltd currently has a Zacks Rank of #3 (Hold).
Investors should also note Teck Resources Ltd's current valuation metrics, including its Forward P/E ratio of 4.44. Its industry sports an average Forward P/E of 7.29, so we one might conclude that Teck Resources Ltd is trading at a discount comparatively.
Meanwhile, TECK's PEG ratio is currently 0.11. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Miscellaneous was holding an average PEG ratio of 1.56 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Teck Resources Ltd (TECK) Gains As Market Dips: What You Should Know
In the latest trading session, Teck Resources Ltd (TECK - Free Report) closed at $33.22, marking a +1.47% move from the previous day. This change outpaced the S&P 500's 2.01% loss on the day. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the company had lost 24.23% over the past month, lagging the Basic Materials sector's loss of 15.03% and the S&P 500's loss of 6.08% in that time.
Wall Street will be looking for positivity from Teck Resources Ltd as it approaches its next earnings report date. This is expected to be July 26, 2022. The company is expected to report EPS of $2.34, up 358.82% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4 billion, up 92.09% from the prior-year quarter.
TECK's full-year Zacks Consensus Estimates are calling for earnings of $7.37 per share and revenue of $15.11 billion. These results would represent year-over-year changes of +63.05% and +40.65%, respectively.
It is also important to note the recent changes to analyst estimates for Teck Resources Ltd. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.8% lower. Teck Resources Ltd currently has a Zacks Rank of #3 (Hold).
Investors should also note Teck Resources Ltd's current valuation metrics, including its Forward P/E ratio of 4.44. Its industry sports an average Forward P/E of 7.29, so we one might conclude that Teck Resources Ltd is trading at a discount comparatively.
Meanwhile, TECK's PEG ratio is currently 0.11. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Miscellaneous was holding an average PEG ratio of 1.56 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.