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Teck Resources Ltd (TECK) Stock Moves 1.24%: What You Should Know
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Teck Resources Ltd (TECK - Free Report) closed the most recent trading day at $43.30, moving +1.24% from the previous trading session. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 1.92%.
Prior to today's trading, shares of the company had gained 18.84% over the past month. This has outpaced the Basic Materials sector's gain of 2.71% and the S&P 500's gain of 6.51% in that time.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release, which is expected to be April 26, 2023. In that report, analysts expect Teck Resources Ltd to post earnings of $1.43 per share. This would mark a year-over-year decline of 38.89%. Meanwhile, our latest consensus estimate is calling for revenue of $2.97 billion, down 25.21% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $12.11 billion, which would represent changes of -28.18% and -15.93%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Teck Resources Ltd. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 8.1% lower. Teck Resources Ltd is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Teck Resources Ltd is holding a Forward P/E ratio of 8.51. Its industry sports an average Forward P/E of 10.05, 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 1.43 right now. 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. TECK's industry had an average PEG ratio of 2.06 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 150, which puts it in the bottom 41% 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.
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 Moves 1.24%: What You Should Know
Teck Resources Ltd (TECK - Free Report) closed the most recent trading day at $43.30, moving +1.24% from the previous trading session. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 1.92%.
Prior to today's trading, shares of the company had gained 18.84% over the past month. This has outpaced the Basic Materials sector's gain of 2.71% and the S&P 500's gain of 6.51% in that time.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release, which is expected to be April 26, 2023. In that report, analysts expect Teck Resources Ltd to post earnings of $1.43 per share. This would mark a year-over-year decline of 38.89%. Meanwhile, our latest consensus estimate is calling for revenue of $2.97 billion, down 25.21% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $12.11 billion, which would represent changes of -28.18% and -15.93%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Teck Resources Ltd. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 8.1% lower. Teck Resources Ltd is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Teck Resources Ltd is holding a Forward P/E ratio of 8.51. Its industry sports an average Forward P/E of 10.05, 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 1.43 right now. 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. TECK's industry had an average PEG ratio of 2.06 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 150, which puts it in the bottom 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.