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Teck Resources Ltd (TECK) Stock Sinks As Market Gains: What You Should Know
Teck Resources Ltd (TECK - Free Report) closed at $41.78 in the latest trading session, marking a -0.12% move from the prior day. This change lagged the S&P 500's 0.76% gain on the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq lost 0.98%.
Prior to today's trading, shares of the company had lost 4.54% over the past month. This has was narrower than the Basic Materials sector's loss of 4.58% and lagged the S&P 500's loss of 3.91% in that time.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release. In that report, analysts expect Teck Resources Ltd to post earnings of $1.13 per share. This would mark a year-over-year decline of 51.71%. Our most recent consensus estimate is calling for quarterly revenue of $2.73 billion, down 31.2% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.35 per share and revenue of $11.28 billion, which would represent changes of -37.77% and -21.66%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 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. The Zacks Consensus EPS estimate has moved 0.16% lower within the past month. Teck Resources Ltd is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Teck Resources Ltd has a Forward P/E ratio of 9.63 right now. For comparison, its industry has an average Forward P/E of 10.27, which means Teck Resources Ltd is trading at a discount to the group.
Also, we should mention that TECK has a PEG ratio of 1.62. 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. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 2.06 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 109, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow TECK in the coming trading sessions, be sure to utilize Zacks.com.