Teck Resources (TECK) Set to Announce Quarterly Earnings on Thursday

Teck Resources (NYSE:TECK) (TSE:TECK) will be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $1.05 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. On average, analysts expect Teck Resources to post $4 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Teck Resources Trading Up 0.1 %

Teck Resources stock opened at $47.20 on Thursday. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $42.60 and a two-hundred day moving average price of $40.07. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 6.49 and a beta of 1.15. Teck Resources has a 52-week low of $34.38 and a 52-week high of $50.46.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.0925 per share. This represents a $0.37 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Thursday, March 14th. Teck Resources’s payout ratio is 10.50%.

Institutional Investors Weigh In On Teck Resources

A number of large investors have recently made changes to their positions in TECK. Norges Bank acquired a new position in Teck Resources in the 4th quarter valued at approximately $291,283,000. Alliancebernstein L.P. increased its stake in shares of Teck Resources by 1,833.3% during the 2nd quarter. Alliancebernstein L.P. now owns 3,234,380 shares of the basic materials company’s stock worth $136,167,000 after purchasing an additional 3,067,080 shares during the last quarter. Cowa LLC increased its stake in shares of Teck Resources by 9,975.4% during the 1st quarter. Cowa LLC now owns 2,008,935 shares of the basic materials company’s stock worth $811,000 after purchasing an additional 1,988,996 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Teck Resources by 209.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,391,712 shares of the basic materials company’s stock worth $96,601,000 after purchasing an additional 1,618,412 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Teck Resources by 56.3% during the 3rd quarter. BlackRock Inc. now owns 4,286,492 shares of the basic materials company’s stock worth $130,351,000 after purchasing an additional 1,544,874 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their price target on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday. Benchmark increased their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, UBS Group started coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.04.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.