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Teck Resources Ltd (TECK) Gains As Market Dips: What You Should Know
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Teck Resources Ltd (TECK - Free Report) closed the most recent trading day at $32.36, moving +1.54% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.33%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the company had lost 5.63% over the past month. This has was narrower than the Basic Materials sector's loss of 9.54% and the S&P 500's loss of 11.67% 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 October 27, 2022. In that report, analysts expect Teck Resources Ltd to post earnings of $1.36 per share. This would mark a year-over-year decline of 8.72%. Meanwhile, our latest consensus estimate is calling for revenue of $3.37 billion, up 6.91% from the prior-year quarter.
TECK's full-year Zacks Consensus Estimates are calling for earnings of $7.32 per share and revenue of $14.67 billion. These results would represent year-over-year changes of +61.95% and +36.56%, respectively.
Any recent changes to analyst estimates for Teck Resources Ltd should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 6.3% higher. Teck Resources Ltd currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Teck Resources Ltd currently has a Forward P/E ratio of 4.36. For comparison, its industry has an average Forward P/E of 7.74, which means Teck Resources Ltd is trading at a discount to the group.
It is also worth noting that TECK currently has a PEG ratio of 1.07. 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 1.87 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 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
Teck Resources Ltd (TECK - Free Report) closed the most recent trading day at $32.36, moving +1.54% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.33%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the company had lost 5.63% over the past month. This has was narrower than the Basic Materials sector's loss of 9.54% and the S&P 500's loss of 11.67% 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 October 27, 2022. In that report, analysts expect Teck Resources Ltd to post earnings of $1.36 per share. This would mark a year-over-year decline of 8.72%. Meanwhile, our latest consensus estimate is calling for revenue of $3.37 billion, up 6.91% from the prior-year quarter.
TECK's full-year Zacks Consensus Estimates are calling for earnings of $7.32 per share and revenue of $14.67 billion. These results would represent year-over-year changes of +61.95% and +36.56%, respectively.
Any recent changes to analyst estimates for Teck Resources Ltd should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 6.3% higher. Teck Resources Ltd currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Teck Resources Ltd currently has a Forward P/E ratio of 4.36. For comparison, its industry has an average Forward P/E of 7.74, which means Teck Resources Ltd is trading at a discount to the group.
It is also worth noting that TECK currently has a PEG ratio of 1.07. 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 1.87 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 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.