Zacks: Analysts Expect Teck Resources Ltd (TECK) Will Post Earnings of $0.72 Per Share
Analysts expect Teck Resources Ltd (NYSE:TECK) (TSE:TECK) to announce earnings per share (EPS) of $0.72 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Teck Resources’ earnings. The lowest EPS estimate is $0.61 and the highest is $0.82. Teck Resources reported earnings of $0.20 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 260%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Teck Resources will report full-year earnings of $3.09 per share for the current year, with EPS estimates ranging from $2.79 to $3.47. For the next fiscal year, analysts forecast that the company will report earnings of $2.17 per share, with EPS estimates ranging from $1.21 to $3.25. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Teck Resources.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.75 billion. Teck Resources had a net margin of 17.93% and a return on equity of 13.01%. The business’s revenue was up 62.0% on a year-over-year basis.
A number of brokerages have recently commented on TECK. Raymond James Financial, Inc. reissued an “outperform” rating on shares of Teck Resources in a research report on Tuesday. Royal Bank Of Canada restated an “outperform” rating and set a $38.00 target price (down previously from $39.00) on shares of Teck Resources in a research note on Friday, June 16th. Deutsche Bank AG restated a “buy” rating and set a $23.00 target price (down previously from $24.00) on shares of Teck Resources in a research note on Sunday, June 25th. Bank of America Corporation cut shares of Teck Resources from a “buy” rating to a “neutral” rating and cut their target price for the stock from $27.00 to $19.00 in a research note on Friday, June 9th. Finally, Zacks Investment Research cut shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $27.03.
A number of institutional investors have recently added to or reduced their stakes in TECK. Capital Analysts LLC purchased a new position in Teck Resources during the second quarter valued at approximately $100,000. Winslow Evans & Crocker Inc. purchased a new position in Teck Resources during the second quarter valued at approximately $108,000. Financial Architects Inc purchased a new position in Teck Resources during the second quarter valued at approximately $123,000. PNC Financial Services Group Inc. purchased a new position in Teck Resources during the second quarter valued at approximately $124,000. Finally, Tower Research Capital LLC TRC purchased a new position in Teck Resources during the second quarter valued at approximately $164,000. 47.20% of the stock is currently owned by hedge funds and other institutional investors.
Teck Resources (NYSE TECK) traded up 6.03% on Wednesday, reaching $23.55. 5,752,835 shares of the company’s stock were exchanged. Teck Resources has a 12 month low of $14.56 and a 12 month high of $33.76. The firm has a market cap of $13.61 billion, a PE ratio of 8.36 and a beta of 1.27. The firm’s 50-day moving average is $20.03 and its 200-day moving average is $20.31.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.0399 dividend. This represents a $0.16 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, September 14th. Teck Resources’s dividend payout ratio is currently 5.64%.
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About Teck Resources
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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