Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Investment analysts at B. Riley decreased their Q1 2018 earnings estimates for Teck Resources in a report issued on Thursday. B. Riley analyst L. Pipes now expects that the basic materials company will earn $1.31 per share for the quarter, down from their prior estimate of $1.39. B. Riley currently has a “Buy” rating on the stock. B. Riley also issued estimates for Teck Resources’ Q2 2018 earnings at $0.80 EPS, Q4 2018 earnings at $0.53 EPS and FY2018 earnings at $3.35 EPS.
A number of other brokerages have also recently commented on TECK. Zacks Investment Research cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. ValuEngine upgraded shares of Teck Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. CIBC initiated coverage on shares of Teck Resources in a research report on Friday, November 17th. They issued a “sector outperform” rating on the stock. Finally, Bank of America set a $36.00 target price on shares of Teck Resources and gave the stock a “buy” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Teck Resources has an average rating of “Buy” and an average price target of $30.94.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued 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 business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Teck Resources had a return on equity of 13.69% and a net margin of 20.83%. Teck Resources’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS.
Institutional investors have recently made changes to their positions in the business. Bartlett & Co. LLC bought a new stake in Teck Resources in the 4th quarter worth $118,000. We Are One Seven LLC bought a new stake in Teck Resources in the 4th quarter worth $162,000. PNC Financial Services Group Inc. bought a new stake in Teck Resources in the 2nd quarter worth $124,000. C M Bidwell & Associates Ltd. bought a new stake in Teck Resources in the 4th quarter worth $199,000. Finally, Cigna Investments Inc. New bought a new stake in Teck Resources in the 4th quarter worth $204,000. 53.08% of the stock is currently owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s dividend payout ratio (DPR) is 4.62%.
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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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