Why Teck Resources (TECK) Might Surprise This Earnings Season

Investors are always looking for stocks that are poised to beat at earnings season and Teck Resources Limited TECK may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.

That is because Teck Resources is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for TECK in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at $1.16 per share for TECK, compared to a broader Zacks Consensus Estimate of $1.06 per share. This suggests that analysts have very recently bumped up their estimates for TECK, giving the stock a Zacks Earnings ESP of +9.86% heading into earnings season.

Teck Resources Limited Price and EPS Surprise

Teck Resources Ltd Price and EPS SurpriseTeck Resources Ltd Price and EPS Surprise
Teck Resources Ltd Price and EPS Surprise

Teck Resources Limited price-eps-surprise | Teck Resources Limited Quote

Why is this Important?

A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).

Given that TECK has a Zacks Rank #1 (Strong Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank stocks here.

Clearly, recent earnings estimate revisions suggest that good things are ahead for Teck Resources, and that a beat might be in the cards for the upcoming report.

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By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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