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Teck Resources Ltd (TECK) Dips More Than Broader Markets: What You Should Know
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Teck Resources Ltd (TECK - Free Report) closed at $41.23 in the latest trading session, marking a -1.74% move from the prior day. This change lagged the S&P 500's 0.47% loss on the day. Meanwhile, the Dow lost 0.72%, and the Nasdaq, a tech-heavy index, lost 5.08%.
Heading into today, shares of the company had lost 0.78% over the past month, lagging the Basic Materials sector's gain of 3.51% and the S&P 500's gain of 5.36% 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 July 27, 2023. The company is expected to report EPS of $1.08, down 57.65% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.79 billion, down 38.39% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.75 per share and revenue of $12.18 billion. These totals would mark changes of -32.05% and -15.44%, respectively, from last year.
It is also important to note the 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.
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 0.26% lower. Teck Resources Ltd is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Teck Resources Ltd's current valuation metrics, including its Forward P/E ratio of 8.83. This represents a discount compared to its industry's average Forward P/E of 9.7.
Also, we should mention that TECK has a PEG ratio of 1.49. 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 industry currently had an average PEG ratio of 1.81 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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) Dips More Than Broader Markets: What You Should Know
Teck Resources Ltd (TECK - Free Report) closed at $41.23 in the latest trading session, marking a -1.74% move from the prior day. This change lagged the S&P 500's 0.47% loss on the day. Meanwhile, the Dow lost 0.72%, and the Nasdaq, a tech-heavy index, lost 5.08%.
Heading into today, shares of the company had lost 0.78% over the past month, lagging the Basic Materials sector's gain of 3.51% and the S&P 500's gain of 5.36% 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 July 27, 2023. The company is expected to report EPS of $1.08, down 57.65% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.79 billion, down 38.39% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.75 per share and revenue of $12.18 billion. These totals would mark changes of -32.05% and -15.44%, respectively, from last year.
It is also important to note the 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.
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 0.26% lower. Teck Resources Ltd is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Teck Resources Ltd's current valuation metrics, including its Forward P/E ratio of 8.83. This represents a discount compared to its industry's average Forward P/E of 9.7.
Also, we should mention that TECK has a PEG ratio of 1.49. 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 industry currently had an average PEG ratio of 1.81 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.