Teck Resources Ltd (TECK) Expected to Post Earnings of $0.69 Per Share

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Equities analysts forecast that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will report earnings per share (EPS) of $0.69 for the current quarter, Zacks Investment Research reports. Fifteen analysts have issued estimates for Teck Resources’ earnings. The highest EPS estimate is $0.79 and the lowest is $0.51. Teck Resources posted earnings of $1.02 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 32.4%. The firm is scheduled to announce its next earnings report before the market opens on Tuesday, April 23rd.

According to Zacks, analysts expect that Teck Resources will report full-year earnings of $2.77 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $3.38. For the next year, analysts anticipate that the firm will post earnings of $2.54 per share, with EPS estimates ranging from $1.52 to $3.52. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that that provide coverage for Teck Resources.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Wednesday, February 13th. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.28 billion. Teck Resources had a net margin of 24.75% and a return on equity of 10.81%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 EPS.

A number of brokerages have weighed in on TECK. ValuEngine lowered shares of Teck Resources from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. Raymond James restated a “buy” rating on shares of Teck Resources in a research note on Thursday. Deutsche Bank set a $35.00 price objective on shares of Teck Resources and gave the stock a “buy” rating in a report on Monday, December 10th. Bank of America set a $30.00 price objective on shares of Teck Resources and gave the company a “buy” rating in a research note on Thursday. Finally, MKM Partners initiated coverage on shares of Teck Resources in a report on Friday, January 18th. They set a “buy” rating and a $28.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Teck Resources presently has a consensus rating of “Buy” and a consensus price target of $29.14.

Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors bought a new stake in shares of Teck Resources during the 3rd quarter worth $513,470,000. Norges Bank bought a new stake in Teck Resources in the 4th quarter worth approximately $285,156,000. Impala Asset Management LLC lifted its position in Teck Resources by 16.3% in the 3rd quarter. Impala Asset Management LLC now owns 15,107,521 shares of the basic materials company’s stock worth $364,092,000 after buying an additional 2,119,601 shares during the last quarter. BlackRock Inc. boosted its stake in Teck Resources by 46.0% in the fourth quarter. BlackRock Inc. now owns 6,240,453 shares of the basic materials company’s stock worth $134,420,000 after buying an additional 1,967,067 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Teck Resources by 26.7% in the fourth quarter. CIBC Asset Management Inc now owns 8,553,875 shares of the basic materials company’s stock worth $184,199,000 after buying an additional 1,801,837 shares in the last quarter. 56.27% of the stock is currently owned by hedge funds and other institutional investors.

NYSE TECK traded up $0.34 during trading hours on Monday, reaching $24.05. 3,528,091 shares of the company were exchanged, compared to its average volume of 2,591,202. The company has a market capitalization of $13.54 billion, a PE ratio of 7.66 and a beta of 1.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.29 and a current ratio of 2.11. Teck Resources has a 1 year low of $18.17 and a 1 year high of $30.11.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.038 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.15 annualized dividend and a yield of 0.63%. Teck Resources’s dividend payout ratio is currently 4.78%.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include 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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Earnings History and Estimates for Teck Resources (NYSE:TECK)

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