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Teck Resources Ltd (TECK) Outpaces Stock Market Gains: What You Should Know
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Teck Resources Ltd (TECK - Free Report) closed at $43.34 in the latest trading session, marking a +0.65% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.61%.
Prior to today's trading, shares of the company had lost 0.37% over the past month. This has lagged the Basic Materials sector's gain of 2.87% and the S&P 500's gain of 6.1% 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 July 27, 2023. In that report, analysts expect Teck Resources Ltd to post earnings of $1.08 per share. This would mark a year-over-year decline of 57.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.79 billion, down 38.39% from the year-ago period.
TECK's full-year Zacks Consensus Estimates are calling for earnings of $4.75 per share and revenue of $12.18 billion. These results would represent year-over-year changes of -32.05% and -15.44%, respectively.
Investors should also note any recent changes to analyst estimates for Teck Resources Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 0.26% lower. Teck Resources Ltd is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Teck Resources Ltd has a Forward P/E ratio of 9.06 right now. This valuation marks a premium compared to its industry's average Forward P/E of 9.
We can also see that TECK currently has a PEG ratio of 1.53. 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. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.81 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 171, putting it in the bottom 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Teck Resources Ltd (TECK) Outpaces Stock Market Gains: What You Should Know
Teck Resources Ltd (TECK - Free Report) closed at $43.34 in the latest trading session, marking a +0.65% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.61%.
Prior to today's trading, shares of the company had lost 0.37% over the past month. This has lagged the Basic Materials sector's gain of 2.87% and the S&P 500's gain of 6.1% 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 July 27, 2023. In that report, analysts expect Teck Resources Ltd to post earnings of $1.08 per share. This would mark a year-over-year decline of 57.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.79 billion, down 38.39% from the year-ago period.
TECK's full-year Zacks Consensus Estimates are calling for earnings of $4.75 per share and revenue of $12.18 billion. These results would represent year-over-year changes of -32.05% and -15.44%, respectively.
Investors should also note any recent changes to analyst estimates for Teck Resources Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 0.26% lower. Teck Resources Ltd is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Teck Resources Ltd has a Forward P/E ratio of 9.06 right now. This valuation marks a premium compared to its industry's average Forward P/E of 9.
We can also see that TECK currently has a PEG ratio of 1.53. 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. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.81 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 171, putting it in the bottom 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.