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Teck Resources Ltd (TECK) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Teck Resources Ltd (TECK - Free Report) closed at $42.02, marking a -0.57% move from the previous day. This change lagged the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 3.77%.
Prior to today's trading, shares of the company had gained 3.48% over the past month. This has outpaced the Basic Materials sector's loss of 1.45% and lagged the S&P 500's gain of 3.54% in that time.
Investors will be hoping for strength from Teck Resources Ltd as it approaches its next earnings release, which is expected to be February 20, 2023. On that day, Teck Resources Ltd is projected to report earnings of $0.95 per share, which would represent a year-over-year decline of 52.97%. Our most recent consensus estimate is calling for quarterly revenue of $2.59 billion, down 25.92% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Teck Resources Ltd. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.7% higher. Teck Resources Ltd is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Teck Resources Ltd currently has a Forward P/E ratio of 9.65. Its industry sports an average Forward P/E of 10.15, so we one might conclude that Teck Resources Ltd is trading at a discount comparatively.
We can also see that TECK currently has a PEG ratio of 1.63. 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. TECK's industry had an average PEG ratio of 2 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 105, putting it in the top 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Teck Resources Ltd (TECK - Free Report) closed at $42.02, marking a -0.57% move from the previous day. This change lagged the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 3.77%.
Prior to today's trading, shares of the company had gained 3.48% over the past month. This has outpaced the Basic Materials sector's loss of 1.45% and lagged the S&P 500's gain of 3.54% in that time.
Investors will be hoping for strength from Teck Resources Ltd as it approaches its next earnings release, which is expected to be February 20, 2023. On that day, Teck Resources Ltd is projected to report earnings of $0.95 per share, which would represent a year-over-year decline of 52.97%. Our most recent consensus estimate is calling for quarterly revenue of $2.59 billion, down 25.92% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Teck Resources Ltd. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.7% higher. Teck Resources Ltd is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Teck Resources Ltd currently has a Forward P/E ratio of 9.65. Its industry sports an average Forward P/E of 10.15, so we one might conclude that Teck Resources Ltd is trading at a discount comparatively.
We can also see that TECK currently has a PEG ratio of 1.63. 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. TECK's industry had an average PEG ratio of 2 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 105, putting it in the top 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.