Teck Resources (TECK) Releases Earnings Results, Misses Estimates By $0.06 EPS

Teck Resources (NYSE:TECK) (TSE:TECK) posted its earnings results on Wednesday. The basic materials company reported $0.95 EPS for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.06), Morningstar.com reports. The company had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Teck Resources had a net margin of 19.72% and a return on equity of 15.16%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the business earned $1.61 earnings per share.

Shares of Teck Resources (TECK) traded up $0.63 during trading hours on Wednesday, reaching $30.26. 7,818,382 shares of the company were exchanged, compared to its average volume of 4,683,781. The firm has a market cap of $17,360.00, a PE ratio of 9.01, a P/E/G ratio of 1.09 and a beta of 1.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17. Teck Resources has a 12-month low of $14.56 and a 12-month high of $30.79.

A number of research analysts recently commented on the stock. ValuEngine raised shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Zacks Investment Research raised shares of Teck Resources from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a research report on Friday, February 9th. Bank of America set a $36.00 target price on shares of Teck Resources and gave the company a “buy” rating in a research report on Friday, February 9th. Clarkson Capital downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, January 15th. Finally, Scotiabank raised shares of Teck Resources from an “outperform” rating to a “focus list” rating in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $30.94.

Large investors have recently modified their holdings of the stock. Bartlett & Co. LLC acquired a new stake in Teck Resources during the 4th quarter worth $118,000. PNC Financial Services Group Inc. acquired a new stake in Teck Resources during the 2nd quarter worth $124,000. C M Bidwell & Associates Ltd. acquired a new stake in Teck Resources during the 4th quarter worth $199,000. Private Advisor Group LLC acquired a new stake in shares of Teck Resources in the 3rd quarter worth $200,000. Finally, Shelton Capital Management acquired a new stake in shares of Teck Resources in the 2nd quarter worth $202,000. Hedge funds and other institutional investors own 52.93% of the company’s stock.

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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.

Earnings History for Teck Resources (NYSE:TECK)

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