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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 at $35.09 in the latest trading session, marking a -0.31% move from the prior day. This move lagged the S&P 500's daily gain of 0.56%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 1.35%.
Coming into today, shares of the company had lost 13.34% in the past month. In that same time, the Basic Materials sector lost 3.21%, while the S&P 500 lost 1.48%.
Wall Street will be looking for positivity from Teck Resources Ltd as it approaches its next earnings report date. This is expected to be April 26, 2023. In that report, analysts expect Teck Resources Ltd to post earnings of $1.40 per share. This would mark a year-over-year decline of 40.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.95 billion, down 25.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.25 per share and revenue of $12.15 billion. These totals would mark changes of -24.89% and -15.6%, respectively, from last year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Within the past 30 days, our consensus EPS projection has moved 18.94% higher. Teck Resources Ltd is currently a Zacks Rank #3 (Hold).
In terms of valuation, Teck Resources Ltd is currently trading at a Forward P/E ratio of 6.71. For comparison, its industry has an average Forward P/E of 9.73, which means Teck Resources Ltd is trading at a discount to the group.
It is also worth noting that TECK currently has a PEG ratio of 1.13. 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 2.05 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Sinks As Market Gains: What You Should Know
Teck Resources Ltd (TECK - Free Report) closed at $35.09 in the latest trading session, marking a -0.31% move from the prior day. This move lagged the S&P 500's daily gain of 0.56%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 1.35%.
Coming into today, shares of the company had lost 13.34% in the past month. In that same time, the Basic Materials sector lost 3.21%, while the S&P 500 lost 1.48%.
Wall Street will be looking for positivity from Teck Resources Ltd as it approaches its next earnings report date. This is expected to be April 26, 2023. In that report, analysts expect Teck Resources Ltd to post earnings of $1.40 per share. This would mark a year-over-year decline of 40.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.95 billion, down 25.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.25 per share and revenue of $12.15 billion. These totals would mark changes of -24.89% and -15.6%, respectively, from last year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Within the past 30 days, our consensus EPS projection has moved 18.94% higher. Teck Resources Ltd is currently a Zacks Rank #3 (Hold).
In terms of valuation, Teck Resources Ltd is currently trading at a Forward P/E ratio of 6.71. For comparison, its industry has an average Forward P/E of 9.73, which means Teck Resources Ltd is trading at a discount to the group.
It is also worth noting that TECK currently has a PEG ratio of 1.13. 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 2.05 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.