We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Teck Resources Ltd (TECK) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
In the latest trading session, Teck Resources Ltd (TECK - Free Report) closed at $32.28, marking a -1.68% move from the previous day. This change lagged the S&P 500's daily loss of 1.03%. Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.27%.
Prior to today's trading, shares of the company had lost 0.09% over the past month. This has lagged the Basic Materials sector's gain of 1.01% and was narrower than the S&P 500's loss of 3.51% in that time.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2022. On that day, Teck Resources Ltd is projected to report earnings of $1.38 per share, which would represent a year-over-year decline of 7.38%. Our most recent consensus estimate is calling for quarterly revenue of $3.37 billion, up 6.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.34 per share and revenue of $14.78 billion. These totals would mark changes of +62.39% and +37.59%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Teck Resources Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 6.7% higher. Teck Resources Ltd is currently a Zacks Rank #3 (Hold).
In terms of valuation, Teck Resources Ltd is currently trading at a Forward P/E ratio of 4.47. For comparison, its industry has an average Forward P/E of 8.57, which means Teck Resources Ltd is trading at a discount to the group.
We can also see that TECK currently has a PEG ratio of 1.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Miscellaneous was holding an average PEG ratio of 1.37 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 138, which puts it in the bottom 46% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Teck Resources Ltd (TECK) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Teck Resources Ltd (TECK - Free Report) closed at $32.28, marking a -1.68% move from the previous day. This change lagged the S&P 500's daily loss of 1.03%. Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.27%.
Prior to today's trading, shares of the company had lost 0.09% over the past month. This has lagged the Basic Materials sector's gain of 1.01% and was narrower than the S&P 500's loss of 3.51% in that time.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2022. On that day, Teck Resources Ltd is projected to report earnings of $1.38 per share, which would represent a year-over-year decline of 7.38%. Our most recent consensus estimate is calling for quarterly revenue of $3.37 billion, up 6.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.34 per share and revenue of $14.78 billion. These totals would mark changes of +62.39% and +37.59%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Teck Resources Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 6.7% higher. Teck Resources Ltd is currently a Zacks Rank #3 (Hold).
In terms of valuation, Teck Resources Ltd is currently trading at a Forward P/E ratio of 4.47. For comparison, its industry has an average Forward P/E of 8.57, which means Teck Resources Ltd is trading at a discount to the group.
We can also see that TECK currently has a PEG ratio of 1.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Miscellaneous was holding an average PEG ratio of 1.37 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 138, which puts it in the bottom 46% 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.