Wall Street analysts forecast that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will post $0.84 earnings per share for the current quarter, according to Zacks Investment Research. Eighteen analysts have made estimates for Teck Resources’ earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $1.09. Teck Resources posted earnings of $0.86 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.3%. The business is scheduled to announce its next earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Teck Resources will report full-year earnings of $3.51 per share for the current financial year, with EPS estimates ranging from $2.96 to $3.92. For the next fiscal year, analysts forecast that the business will report earnings of $3.07 per share, with EPS estimates ranging from $2.16 to $3.76. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Teck Resources.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, July 26th. The basic materials company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.84 by $0.28. Teck Resources had a return on equity of 13.56% and a net margin of 22.12%. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the prior year, the business earned $1.00 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis.
Several research firms have recently commented on TECK. ValuEngine raised Teck Resources from a “strong sell” rating to a “sell” rating in a research report on Wednesday. MKM Partners lowered their price target on shares of Teck Resources to $30.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley upped their price target on shares of Teck Resources from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, June 29th. Clarkson Capital upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, September 11th. Finally, Zacks Investment Research downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Teck Resources has a consensus rating of “Buy” and a consensus price target of $30.39.
Teck Resources stock opened at $23.45 on Friday. Teck Resources has a 12 month low of $20.06 and a 12 month high of $30.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.38. The company has a market capitalization of $13.00 billion, a PE ratio of 6.84, a PEG ratio of 0.63 and a beta of 1.44.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.038 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.15 annualized dividend and a dividend yield of 0.65%. Teck Resources’s dividend payout ratio (DPR) is presently 4.37%.
Large investors have recently made changes to their positions in the company. Schroder Investment Management Group boosted its position in shares of Teck Resources by 1.0% during the 2nd quarter. Schroder Investment Management Group now owns 1,637,788 shares of the basic materials company’s stock worth $53,555,000 after purchasing an additional 16,675 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Teck Resources by 2,675.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,191 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 4,040 shares in the last quarter. Nomura Holdings Inc. boosted its position in shares of Teck Resources by 28.1% during the 2nd quarter. Nomura Holdings Inc. now owns 14,092 shares of the basic materials company’s stock worth $359,000 after purchasing an additional 3,091 shares in the last quarter. Andra AP fonden boosted its position in shares of Teck Resources by 22.5% during the 2nd quarter. Andra AP fonden now owns 102,300 shares of the basic materials company’s stock worth $3,426,000 after purchasing an additional 18,800 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Teck Resources by 37.7% during the 2nd quarter. Bank of Nova Scotia now owns 2,225,489 shares of the basic materials company’s stock worth $56,520,000 after purchasing an additional 609,807 shares in the last quarter. Institutional investors own 54.82% of the company’s stock.
Teck Resources Company Profile
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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