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Teck Resources Ltd (TECK) Gains But Lags Market: What You Should Know
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In the latest trading session, Teck Resources Ltd (TECK - Free Report) closed at $27.76, marking a +1.8% move from the previous day. The stock lagged the S&P 500's daily gain of 2.76%. At the same time, the Dow added 2.43%, and the tech-heavy Nasdaq gained 0.13%.
Coming into today, shares of the company had lost 25.21% in the past month. In that same time, the Basic Materials sector lost 12.35%, while the S&P 500 gained 4.44%.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2022. In that report, analysts expect Teck Resources Ltd to post earnings of $2.31 per share. This would mark year-over-year growth of 352.94%. Our most recent consensus estimate is calling for quarterly revenue of $4.02 billion, up 93.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.29 per share and revenue of $15.01 billion, which would represent changes of +61.28% and +39.71%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Teck Resources Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate has moved 4.6% lower within the past month. Teck Resources Ltd is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Teck Resources Ltd is holding a Forward P/E ratio of 3.74. For comparison, its industry has an average Forward P/E of 7.52, which means Teck Resources Ltd is trading at a discount to the group.
Also, we should mention that TECK has a PEG ratio of 1.83. 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. The Mining - Miscellaneous was holding an average PEG ratio of 1.83 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 193, which puts it in the bottom 24% 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 But Lags Market: What You Should Know
In the latest trading session, Teck Resources Ltd (TECK - Free Report) closed at $27.76, marking a +1.8% move from the previous day. The stock lagged the S&P 500's daily gain of 2.76%. At the same time, the Dow added 2.43%, and the tech-heavy Nasdaq gained 0.13%.
Coming into today, shares of the company had lost 25.21% in the past month. In that same time, the Basic Materials sector lost 12.35%, while the S&P 500 gained 4.44%.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2022. In that report, analysts expect Teck Resources Ltd to post earnings of $2.31 per share. This would mark year-over-year growth of 352.94%. Our most recent consensus estimate is calling for quarterly revenue of $4.02 billion, up 93.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.29 per share and revenue of $15.01 billion, which would represent changes of +61.28% and +39.71%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Teck Resources Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate has moved 4.6% lower within the past month. Teck Resources Ltd is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Teck Resources Ltd is holding a Forward P/E ratio of 3.74. For comparison, its industry has an average Forward P/E of 7.52, which means Teck Resources Ltd is trading at a discount to the group.
Also, we should mention that TECK has a PEG ratio of 1.83. 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. The Mining - Miscellaneous was holding an average PEG ratio of 1.83 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 193, which puts it in the bottom 24% 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.