Zacks: Analysts Anticipate Teck Resources Ltd (TECK) Will Announce Earnings of $0.66 Per Share

Brokerages expect Teck Resources Ltd (NYSE:TECK) (TSE:TECK) to report earnings per share of $0.66 for the current fiscal quarter, according to Zacks. Fifteen analysts have provided estimates for Teck Resources’ earnings. The highest EPS estimate is $0.81 and the lowest is $0.48. Teck Resources reported earnings of $0.87 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 24.1%. The business is expected to report its next quarterly earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Teck Resources will report full-year earnings of $2.84 per share for the current year, with EPS estimates ranging from $2.10 to $3.43. For the next fiscal year, analysts expect that the firm will report earnings of $2.57 per share, with EPS estimates ranging from $1.81 to $3.49. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Teck Resources.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Tuesday, April 23rd. The basic materials company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Teck Resources had a return on equity of 9.59% and a net margin of 23.71%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the business earned $1.31 earnings per share.

TECK has been the subject of several recent analyst reports. ValuEngine cut Teck Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. Zacks Investment Research cut Teck Resources from a “buy” rating to a “hold” rating in a report on Saturday, January 26th. Barclays cut Teck Resources to a “positive” rating in a report on Tuesday, April 9th. They noted that the move was a valuation call. MKM Partners set a $26.00 price objective on Teck Resources and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Bank of America set a $30.00 price objective on Teck Resources and gave the stock a “buy” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $29.29.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wetherby Asset Management Inc. lifted its stake in shares of Teck Resources by 1.7% in the 4th quarter. Wetherby Asset Management Inc. now owns 27,779 shares of the basic materials company’s stock valued at $598,000 after acquiring an additional 454 shares during the last quarter. Shell Asset Management Co. lifted its stake in shares of Teck Resources by 1.1% in the 1st quarter. Shell Asset Management Co. now owns 45,078 shares of the basic materials company’s stock valued at $1,043,000 after acquiring an additional 500 shares during the last quarter. Creative Planning lifted its stake in shares of Teck Resources by 1.5% in the 4th quarter. Creative Planning now owns 58,187 shares of the basic materials company’s stock valued at $1,253,000 after acquiring an additional 842 shares during the last quarter. JCIC Asset Management Inc. lifted its stake in shares of Teck Resources by 0.3% in the 1st quarter. JCIC Asset Management Inc. now owns 294,008 shares of the basic materials company’s stock valued at $6,810,000 after acquiring an additional 960 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Teck Resources by 27.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,433 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 1,383 shares during the last quarter. Hedge funds and other institutional investors own 56.98% of the company’s stock.

Teck Resources stock traded up $0.37 during midday trading on Thursday, hitting $20.62. 105,289 shares of the company’s stock were exchanged, compared to its average volume of 2,849,901. Teck Resources has a 52-week low of $18.17 and a 52-week high of $30.11. The company has a quick ratio of 2.06, a current ratio of 2.95 and a debt-to-equity ratio of 0.23. The stock has a market cap of $11.49 billion, a price-to-earnings ratio of 6.57 and a beta of 1.25.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.037 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Thursday, June 13th. Teck Resources’s payout ratio is currently 4.78%.

About Teck Resources

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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