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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 $42.36 in the latest trading session, marking a +1.97% move from the prior day. This move outpaced the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, added 0.24%.
Coming into today, shares of the company had gained 2.49% in the past month. In that same time, the Basic Materials sector gained 1.48%, while the S&P 500 gained 0.32%.
Wall Street will be looking for positivity from Teck Resources Ltd as it approaches its next earnings report date. The company is expected to report EPS of $2.01, up 294.12% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.68 billion, up 76.92% from the year-ago period.
TECK's full-year Zacks Consensus Estimates are calling for earnings of $8.11 per share and revenue of $15.13 billion. These results would represent year-over-year changes of +79.42% and +40.83%, respectively.
It is also important to note the recent changes to analyst estimates for Teck Resources Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.56% higher. Teck Resources Ltd is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Teck Resources Ltd is currently trading at a Forward P/E ratio of 5.13. For comparison, its industry has an average Forward P/E of 8.38, which means Teck Resources Ltd is trading at a discount to the group.
Meanwhile, TECK's PEG ratio is currently 0.13. 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 was holding an average PEG ratio of 1.8 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% 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) Gains As Market Dips: What You Should Know
Teck Resources Ltd (TECK - Free Report) closed at $42.36 in the latest trading session, marking a +1.97% move from the prior day. This move outpaced the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, added 0.24%.
Coming into today, shares of the company had gained 2.49% in the past month. In that same time, the Basic Materials sector gained 1.48%, while the S&P 500 gained 0.32%.
Wall Street will be looking for positivity from Teck Resources Ltd as it approaches its next earnings report date. The company is expected to report EPS of $2.01, up 294.12% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.68 billion, up 76.92% from the year-ago period.
TECK's full-year Zacks Consensus Estimates are calling for earnings of $8.11 per share and revenue of $15.13 billion. These results would represent year-over-year changes of +79.42% and +40.83%, respectively.
It is also important to note the recent changes to analyst estimates for Teck Resources Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.56% higher. Teck Resources Ltd is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Teck Resources Ltd is currently trading at a Forward P/E ratio of 5.13. For comparison, its industry has an average Forward P/E of 8.38, which means Teck Resources Ltd is trading at a discount to the group.
Meanwhile, TECK's PEG ratio is currently 0.13. 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 was holding an average PEG ratio of 1.8 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% 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.