Wall Street analysts expect Teck Resources Ltd (NYSE:TECK) (TSE:TECK) to announce $2.47 billion in sales for the current quarter, Zacks reports. Sixteen analysts have made estimates for Teck Resources’ earnings, with the highest sales estimate coming in at $2.68 billion and the lowest estimate coming in at $2.25 billion. Teck Resources posted sales of $2.53 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 2.4%. The company is scheduled to issue its next earnings results on Wednesday, February 13th.
On average, analysts expect that Teck Resources will report full year sales of $9.53 billion for the current fiscal year, with estimates ranging from $9.03 billion to $10.16 billion. For the next financial year, analysts anticipate that the business will report sales of $9.30 billion, with estimates ranging from $8.51 billion to $10.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Teck Resources.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.11). Teck Resources had a return on equity of 12.31% and a net margin of 27.35%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.40 billion.
Several research analysts have issued reports on TECK shares. Seaport Global Securities upgraded Teck Resources from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, October 15th. Clarkson Capital upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 11th. ValuEngine lowered Teck Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, October 26th. Raymond James restated a “buy” rating on shares of Teck Resources in a research report on Sunday, October 7th. Finally, Barclays started coverage on Teck Resources in a research report on Wednesday, October 10th. They set an “overweight” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $31.43.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in shares of Teck Resources by 46.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 14,236 shares of the basic materials company’s stock valued at $362,000 after buying an additional 4,499 shares during the last quarter. Aviva PLC lifted its position in shares of Teck Resources by 7.3% during the 2nd quarter. Aviva PLC now owns 254,974 shares of the basic materials company’s stock valued at $6,469,000 after buying an additional 17,280 shares during the last quarter. Fiera Capital Corp lifted its position in shares of Teck Resources by 8.5% during the 2nd quarter. Fiera Capital Corp now owns 260,300 shares of the basic materials company’s stock valued at $6,632,000 after buying an additional 20,355 shares during the last quarter. State of Wisconsin Investment Board lifted its position in shares of Teck Resources by 1.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 420,146 shares of the basic materials company’s stock valued at $10,696,000 after buying an additional 8,000 shares during the last quarter. Finally, One Capital Management LLC lifted its position in shares of Teck Resources by 5.7% during the 2nd quarter. One Capital Management LLC now owns 120,493 shares of the basic materials company’s stock valued at $3,067,000 after buying an additional 6,517 shares during the last quarter. Hedge funds and other institutional investors own 53.46% of the company’s stock.
Shares of NYSE:TECK opened at $21.45 on Friday. Teck Resources has a 1 year low of $18.17 and a 1 year high of $30.80. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 6.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.60. The company has a quick ratio of 1.39, a current ratio of 2.30 and a debt-to-equity ratio of 0.23.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a $0.038 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.71%. Teck Resources’s payout ratio is 4.37%.
About Teck Resources
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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