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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 $48.10 in the latest trading session, marking a -1.13% move from the prior day. This change lagged the S&P 500's 0.09% gain on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 2.51%.
Prior to today's trading, shares of the company had gained 37.86% over the past month. This has outpaced the Basic Materials sector's gain of 7.78% and the S&P 500's gain of 6.17% 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 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%. Our most recent consensus estimate is calling for quarterly revenue of $2.96 billion, down 25.62% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.84 per share and revenue of $12.12 billion, which would represent changes of -30.76% and -15.8%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Teck Resources Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 7.71% lower. 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 10.05. This valuation marks a discount compared to its industry's average Forward P/E of 10.38.
Investors should also note that TECK has a PEG ratio of 1.69 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 1.95 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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) Stock Sinks As Market Gains: What You Should Know
Teck Resources Ltd (TECK - Free Report) closed at $48.10 in the latest trading session, marking a -1.13% move from the prior day. This change lagged the S&P 500's 0.09% gain on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 2.51%.
Prior to today's trading, shares of the company had gained 37.86% over the past month. This has outpaced the Basic Materials sector's gain of 7.78% and the S&P 500's gain of 6.17% 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 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%. Our most recent consensus estimate is calling for quarterly revenue of $2.96 billion, down 25.62% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.84 per share and revenue of $12.12 billion, which would represent changes of -30.76% and -15.8%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Teck Resources Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 7.71% lower. 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 10.05. This valuation marks a discount compared to its industry's average Forward P/E of 10.38.
Investors should also note that TECK has a PEG ratio of 1.69 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 1.95 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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.