Teck Resources Ltd (TECK) Expected to Post Earnings of $0.86 Per Share

Wall Street brokerages forecast that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will report $0.86 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Teck Resources’ earnings. The highest EPS estimate is $1.04 and the lowest is $0.60. Teck Resources reported earnings of $1.21 per share during the same quarter last year, which would indicate a negative year over year growth rate of 28.9%. The business is expected to announce its next quarterly earnings report on Wednesday, February 21st.

On average, analysts expect that Teck Resources will report full-year earnings of $3.58 per share for the current year, with EPS estimates ranging from $3.35 to $4.26. For the next financial year, analysts expect that the company will report earnings of $2.72 per share, with EPS estimates ranging from $2.18 to $4.16. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Teck Resources.

A number of equities research analysts have commented on the stock. Citigroup downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. ValuEngine raised shares of Teck Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. CIBC assumed coverage on shares of Teck Resources in a research report on Friday, November 17th. They issued a “sector outperform” rating for the company. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, B. Riley reaffirmed a “buy” rating on shares of Teck Resources in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have given a buy rating to the stock. Teck Resources presently has a consensus rating of “Buy” and a consensus target price of $28.94.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TECK. US Bancorp DE purchased a new position in shares of Teck Resources during the 2nd quarter valued at $320,000. Canada Pension Plan Investment Board purchased a new position in shares of Teck Resources during the 2nd quarter valued at $7,687,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Teck Resources during the 2nd quarter valued at $2,136,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Teck Resources during the 2nd quarter valued at $1,164,000. Finally, State of Wisconsin Investment Board purchased a new position in shares of Teck Resources during the 2nd quarter valued at $10,797,000. Institutional investors own 54.25% of the company’s stock.

Teck Resources (NYSE:TECK) traded up $0.32 during trading hours on Friday, reaching $24.14. 4,927,900 shares of the company’s stock were exchanged, compared to its average volume of 5,008,464. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17. Teck Resources has a fifty-two week low of $14.56 and a fifty-two week high of $26.45. The company has a market cap of $13,589.31, a P/E ratio of 6.47, a PEG ratio of 1.01 and a beta of 1.31.

The firm also recently declared a special dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.3141 per share. This represents a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, December 14th. Teck Resources’s dividend payout ratio is presently 5.06%.

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Teck Resources Company Profile

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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