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Teck Resources Ltd (TECK) Stock Sinks As Market Gains: What You Should Know
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Teck Resources Ltd (TECK - Free Report) closed the most recent trading day at $39.21, moving -0.23% from the previous trading session. This move lagged the S&P 500's daily gain of 0.14%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, added 1.54%.
Heading into today, shares of the company had lost 8.54% over the past month, lagging the Basic Materials sector's loss of 3.08% and the S&P 500's loss of 4.07% in that time.
Investors will be hoping for strength from Teck Resources Ltd as it approaches its next earnings release. The company is expected to report EPS of $1.26, down 46.15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.71 billion, down 31.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.58 per share and revenue of $11.21 billion. These totals would mark changes of -34.48% and -22.18%, respectively, from last year.
Any recent changes to analyst estimates for Teck Resources Ltd should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.8% higher within the past month. Teck Resources Ltd is currently a Zacks Rank #3 (Hold).
Investors should also note Teck Resources Ltd's current valuation metrics, including its Forward P/E ratio of 8.58. This represents a discount compared to its industry's average Forward P/E of 10.16.
It is also worth noting that TECK currently has a PEG ratio of 1.44. 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. The Mining - Miscellaneous was holding an average PEG ratio of 1.61 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 99, which puts 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Teck Resources Ltd (TECK) Stock Sinks As Market Gains: What You Should Know
Teck Resources Ltd (TECK - Free Report) closed the most recent trading day at $39.21, moving -0.23% from the previous trading session. This move lagged the S&P 500's daily gain of 0.14%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, added 1.54%.
Heading into today, shares of the company had lost 8.54% over the past month, lagging the Basic Materials sector's loss of 3.08% and the S&P 500's loss of 4.07% in that time.
Investors will be hoping for strength from Teck Resources Ltd as it approaches its next earnings release. The company is expected to report EPS of $1.26, down 46.15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.71 billion, down 31.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.58 per share and revenue of $11.21 billion. These totals would mark changes of -34.48% and -22.18%, respectively, from last year.
Any recent changes to analyst estimates for Teck Resources Ltd should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.8% higher within the past month. Teck Resources Ltd is currently a Zacks Rank #3 (Hold).
Investors should also note Teck Resources Ltd's current valuation metrics, including its Forward P/E ratio of 8.58. This represents a discount compared to its industry's average Forward P/E of 10.16.
It is also worth noting that TECK currently has a PEG ratio of 1.44. 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. The Mining - Miscellaneous was holding an average PEG ratio of 1.61 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 99, which puts 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.