Teck Resources Ltd (TECK) closed the most recent trading day at $32.75, moving +1.8% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.07%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Coming into today, shares of the company had gained 11.9% in the past month. In that same time, the Basic Materials sector lost 2.95%, while the S&P 500 lost 3.49%.
Wall Street will be looking for positivity from Teck Resources Ltd as it approaches its next earnings report date. On that day, Teck Resources Ltd is projected to report earnings of $1.39 per share, which would represent a year-over-year decline of 6.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.41 billion, up 8.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.83 per share and revenue of $14.89 billion. These totals would mark changes of +51.11% and +38.62%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 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 0.35% higher. Teck Resources Ltd is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Teck Resources Ltd has a Forward P/E ratio of 4.71 right now. This represents a discount compared to its industry's average Forward P/E of 7.9.
It is also worth noting that TECK currently has a PEG ratio of 1.08. 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 industry currently had an average PEG ratio of 1.37 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 189, which puts it in the bottom 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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