Wall Street brokerages forecast that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will post $2.60 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Teck Resources’ earnings, with estimates ranging from $2.45 billion to $2.75 billion. Teck Resources posted sales of $2.19 billion in the same quarter last year, which would indicate a positive year over year growth rate of 18.7%. The company is scheduled to report its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Teck Resources will report full year sales of $2.60 billion for the current year, with estimates ranging from $9.23 billion to $10.82 billion. For the next year, analysts expect that the firm will report sales of $9.24 billion per share, with estimates ranging from $7.84 billion to $10.27 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Teck Resources.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.28 billion. Teck Resources had a return on equity of 13.69% and a net margin of 20.83%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company posted $1.61 EPS.
Several institutional investors have recently added to or reduced their stakes in the company. Tuttle Tactical Management LLC acquired a new position in shares of Teck Resources in the fourth quarter valued at approximately $734,000. Letko Brosseau & Associates Inc. increased its stake in shares of Teck Resources by 1.4% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 13,669,450 shares of the basic materials company’s stock valued at $358,606,000 after buying an additional 189,403 shares during the period. We Are One Seven LLC acquired a new position in shares of Teck Resources in the fourth quarter valued at approximately $162,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Teck Resources by 37.5% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 40,700 shares of the basic materials company’s stock valued at $1,068,000 after buying an additional 11,100 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of Teck Resources by 16.8% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,136,517 shares of the basic materials company’s stock valued at $70,227,000 after buying an additional 307,990 shares during the period. 53.04% of the stock is owned by institutional investors.
Teck Resources (TECK) opened at $26.44 on Monday. The company has a market cap of $15,040.00, a PE ratio of 7.80, a PEG ratio of 0.72 and a beta of 1.37. The company has a quick ratio of 1.19, a current ratio of 1.81 and a debt-to-equity ratio of 0.32. Teck Resources has a fifty-two week low of $14.56 and a fifty-two week high of $30.80.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.61%. This is an increase from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s dividend payout ratio is currently 4.72%.
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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.
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