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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 the most recent trading day at $26.58, moving +1.41% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.67%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Prior to today's trading, shares of the company had lost 33.65% over the past month. This has lagged the Basic Materials sector's loss of 22.59% and the S&P 500's loss of 1.89% 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, 2022. In that report, analysts expect Teck Resources Ltd to post earnings of $2.36 per share. This would mark year-over-year growth of 362.75%. Our most recent consensus estimate is calling for quarterly revenue of $4.09 billion, up 96.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.46 per share and revenue of $15.19 billion, which would represent changes of +65.04% and +41.45%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Teck Resources Ltd. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 5.2% lower. Teck Resources Ltd currently has a Zacks Rank of #3 (Hold).
Investors should also note Teck Resources Ltd's current valuation metrics, including its Forward P/E ratio of 3.52. Its industry sports an average Forward P/E of 7.45, 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 1.71 right now. 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. TECK's industry had an average PEG ratio of 1.75 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 194, which puts it in the bottom 24% 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.
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Teck Resources Ltd (TECK) Gains As Market Dips: What You Should Know
Teck Resources Ltd (TECK - Free Report) closed the most recent trading day at $26.58, moving +1.41% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.67%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Prior to today's trading, shares of the company had lost 33.65% over the past month. This has lagged the Basic Materials sector's loss of 22.59% and the S&P 500's loss of 1.89% 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, 2022. In that report, analysts expect Teck Resources Ltd to post earnings of $2.36 per share. This would mark year-over-year growth of 362.75%. Our most recent consensus estimate is calling for quarterly revenue of $4.09 billion, up 96.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.46 per share and revenue of $15.19 billion, which would represent changes of +65.04% and +41.45%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Teck Resources Ltd. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 5.2% lower. Teck Resources Ltd currently has a Zacks Rank of #3 (Hold).
Investors should also note Teck Resources Ltd's current valuation metrics, including its Forward P/E ratio of 3.52. Its industry sports an average Forward P/E of 7.45, 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 1.71 right now. 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. TECK's industry had an average PEG ratio of 1.75 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 194, which puts it in the bottom 24% 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.