Teck Resources Ltd (TECK) Dips More Than Broader Markets: What You Should Know
Teck Resources Ltd (TECK) closed at $28.58 in the latest trading session, marking a -1.96% move from the prior day. This change lagged the S&P 500's daily loss of 1.03%. At the same time, the Dow lost 1.11%, and the tech-heavy Nasdaq gained 0.02%.
Prior to today's trading, shares of the company had lost 19.87% over the past month. This has lagged the Basic Materials sector's loss of 12.31% and the S&P 500's loss of 10.4% in that time.
Investors will be hoping for strength from Teck Resources Ltd as it approaches its next earnings release, which is expected to be October 26, 2022. In that report, analysts expect Teck Resources Ltd to post earnings of $1.39 per share. This would mark a year-over-year decline of 6.71%. Meanwhile, our latest consensus estimate is calling for revenue of $3.41 billion, up 8.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.83 per share and revenue of $14.78 billion. These totals would mark changes of +51.11% and +37.58%, respectively, from last year.
Investors should also note any 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.65% higher. Teck Resources Ltd currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Teck Resources Ltd is holding a Forward P/E ratio of 4.27. This represents a discount compared to its industry's average Forward P/E of 7.17.
It is also worth noting that TECK currently has a PEG ratio of 0.98. 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. The Mining - Miscellaneous was holding an average PEG ratio of 1.24 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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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