Teck Resources Ltd (TECK) Expected to Announce Earnings of $0.86 Per Share
Analysts forecast that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will report earnings of $0.86 per share for the current quarter, Zacks reports. Four analysts have made estimates for Teck Resources’ earnings. The lowest EPS estimate is $0.69 and the highest is $1.08. Teck Resources reported earnings per share of $0.20 in the same quarter last year, which indicates a positive year-over-year growth rate of 330%. The firm is scheduled to announce its next earnings report on Thursday, October 26th.
On average, analysts expect that Teck Resources will report full-year earnings of $3.35 per share for the current fiscal year, with EPS estimates ranging from $2.94 to $3.83. For the next financial year, analysts forecast that the firm will post earnings of $2.29 per share, with EPS estimates ranging from $1.21 to $2.92. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Teck Resources.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Teck Resources had a net margin of 17.93% and a return on equity of 13.01%. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.75 billion. The company’s quarterly revenue was up 62.0% compared to the same quarter last year.
Several analysts have recently commented on the stock. MKM Partners reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Teck Resources in a report on Wednesday. Axiom Securities assumed coverage on shares of Teck Resources in a report on Monday. They issued a “sell” rating and a $16.00 price objective on the stock. BidaskClub downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 15th. ValuEngine downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of Teck Resources in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-four have given a buy rating to the company’s stock. Teck Resources has an average rating of “Buy” and a consensus target price of $29.39.
A number of large investors have recently bought and sold shares of the business. Letko Brosseau & Associates Inc. acquired a new position in Teck Resources during the second quarter worth $237,787,000. Impala Asset Management LLC acquired a new position in Teck Resources during the second quarter worth $217,614,000. Capital Research Global Investors acquired a new position in Teck Resources during the second quarter worth $187,626,000. Vanguard Group Inc. acquired a new position in Teck Resources during the second quarter worth $182,655,000. Finally, TD Asset Management Inc. acquired a new position in Teck Resources during the second quarter worth $146,189,000. Institutional investors own 46.67% of the company’s stock.
Shares of Teck Resources (NYSE:TECK) traded up 0.69% during midday trading on Friday, reaching $21.96. 5,666,894 shares of the company traded hands. The company has a market capitalization of $12.69 billion, a PE ratio of 7.78 and a beta of 1.25. The company has a 50 day moving average price of $23.20 and a 200 day moving average price of $20.46. Teck Resources has a 1-year low of $14.56 and a 1-year high of $26.60.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.0399 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Thursday, September 14th. Teck Resources’s dividend payout ratio is presently 3.01%.
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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