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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 at $42.93 in the latest trading session, marking a +0.44% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq lost 4.19%.
Heading into today, shares of the company had lost 6.5% over the past month, lagging the Basic Materials sector's loss of 2.3% and the S&P 500's gain of 3.78% in that time.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release. On that day, Teck Resources Ltd is projected to report earnings of $1.12 per share, which would represent a year-over-year decline of 56.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.8 billion, down 38.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.80 per share and revenue of $12.17 billion, which would represent changes of -31.33% and -15.5%, respectively, from the prior year.
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 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.8% higher within the past month. Teck Resources Ltd currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Teck Resources Ltd is holding a Forward P/E ratio of 8.9. Its industry sports an average Forward P/E of 9.49, so we one might conclude that Teck Resources Ltd is trading at a discount comparatively.
Investors should also note that TECK has a PEG ratio of 1.5 right now. 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 industry currently had an average PEG ratio of 1.9 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
To follow TECK in the coming trading sessions, be sure to utilize 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 at $42.93 in the latest trading session, marking a +0.44% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq lost 4.19%.
Heading into today, shares of the company had lost 6.5% over the past month, lagging the Basic Materials sector's loss of 2.3% and the S&P 500's gain of 3.78% in that time.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release. On that day, Teck Resources Ltd is projected to report earnings of $1.12 per share, which would represent a year-over-year decline of 56.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.8 billion, down 38.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.80 per share and revenue of $12.17 billion, which would represent changes of -31.33% and -15.5%, respectively, from the prior year.
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 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.8% higher within the past month. Teck Resources Ltd currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Teck Resources Ltd is holding a Forward P/E ratio of 8.9. Its industry sports an average Forward P/E of 9.49, so we one might conclude that Teck Resources Ltd is trading at a discount comparatively.
Investors should also note that TECK has a PEG ratio of 1.5 right now. 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 industry currently had an average PEG ratio of 1.9 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
To follow TECK in the coming trading sessions, be sure to utilize Zacks.com.