Brokerages Anticipate Teck Resources Limited (NYSE:TECK) to Post $2.08 Earnings Per Share

Analysts expect Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) to report earnings per share (EPS) of $2.08 for the current fiscal quarter, Zacks Investment Research reports. Sixteen analysts have provided estimates for Teck Resources’ earnings, with the lowest EPS estimate coming in at $1.19 and the highest estimate coming in at $2.46. Teck Resources posted earnings of $0.48 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 333.3%. The company is expected to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Teck Resources will report full year earnings of $7.20 per share for the current year, with EPS estimates ranging from $3.75 to $10.61. For the next fiscal year, analysts anticipate that the company will report earnings of $5.25 per share, with EPS estimates ranging from $3.08 to $10.96. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Teck Resources.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 24th. The basic materials company reported $2.02 EPS for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.02). The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.54 billion. Teck Resources had a return on equity of 13.80% and a net margin of 21.23%. The company’s revenue for the quarter was up 72.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 earnings per share.

TECK has been the topic of several recent research reports. TD Securities increased their target price on shares of Teck Resources from C$54.00 to C$70.00 in a report on Monday, March 7th. B. Riley increased their target price on shares of Teck Resources from C$42.00 to C$48.00 in a report on Thursday, February 3rd. National Bank Financial increased their target price on shares of Teck Resources from C$55.00 to C$60.00 in a report on Friday, April 8th. Raymond James increased their target price on shares of Teck Resources from C$52.00 to C$58.00 in a report on Thursday, March 31st. Finally, Canaccord Genuity Group upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Monday, January 10th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $49.58.

Hedge funds have recently added to or reduced their stakes in the stock. Optimum Investment Advisors acquired a new stake in Teck Resources in the 1st quarter worth approximately $40,000. DeDora Capital Inc. acquired a new stake in Teck Resources in the 1st quarter worth approximately $45,000. Cornerstone Advisory LLC acquired a new stake in Teck Resources in the 4th quarter worth approximately $46,000. Penserra Capital Management LLC acquired a new stake in Teck Resources in the 4th quarter worth approximately $68,000. Finally, Ahrens Investment Partners LLC acquired a new stake in Teck Resources during the 4th quarter valued at approximately $72,000. Institutional investors own 54.12% of the company’s stock.

NYSE TECK opened at $43.16 on Friday. The company’s 50-day moving average price is $38.39 and its 200-day moving average price is $31.94. The company has a current ratio of 1.62, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30. The stock has a market cap of $22.77 billion, a PE ratio of 10.25, a PEG ratio of 0.14 and a beta of 1.19. Teck Resources has a 12 month low of $19.32 and a 12 month high of $44.01.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were given a dividend of $0.0981 per share. This represents a $0.39 annualized dividend and a dividend yield of 0.91%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.04. The ex-dividend date was Monday, March 14th. Teck Resources’s dividend payout ratio is presently 9.26%.

About Teck Resources (Get Rating)

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.

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