Teck Resources Ltd (TECK) closed at $34.20 in the latest trading session, marking a -0.03% move from the prior day. This change was narrower than the S&P 500’s daily loss of 1.1%. At the same time, the Dow lost 1.19%, and the tech-heavy Nasdaq lost 3.27%.
Coming into today, shares of the company had lost 22.02% in the past month. In that same time, the Basic Materials sector lost 6.89%, while the S&P 500 lost 3.02%.
Investors will be hoping for strength from Teck Resources Ltd as it approaches its next earnings release. On that day, Teck Resources Ltd is projected to report earnings of $1.46 per share, which would represent a year-over-year decline of 37.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.97 billion, down 25.22% from the year-ago period.
TECK’s full-year Zacks Consensus Estimates are calling for earnings of $5.53 per share and revenue of $11.85 billion. These results would represent year-over-year changes of -20.89% and -17.72%, respectively.
Any recent changes to analyst estimates for Teck Resources Ltd should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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.
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. The Zacks Consensus EPS estimate has moved 29.9% higher within the past month. Teck Resources Ltd is currently a Zacks Rank #2 (Buy).
Investors should also note Teck Resources Ltd’s current valuation metrics, including its Forward P/E ratio of 6.18. This represents a discount compared to its industry’s average Forward P/E of 9.84.
It is also worth noting that TECK currently has a PEG ratio of 1.04. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. TECK’s industry had an average PEG ratio of 1.75 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 76, which puts it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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