Equities Analysts Issue Forecasts for Teck Resources Limited’s Q1 2022 Earnings (NYSE:TECK)

Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) – Equities research analysts at Raymond James reduced their Q1 2022 earnings per share (EPS) estimates for shares of Teck Resources in a report issued on Tuesday, April 19th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $2.20 for the quarter, down from their prior forecast of $2.27. Raymond James also issued estimates for Teck Resources’ Q2 2022 earnings at $2.15 EPS, Q3 2022 earnings at $1.61 EPS, Q4 2022 earnings at $1.48 EPS, FY2022 earnings at $7.44 EPS, Q1 2023 earnings at $1.34 EPS, Q2 2023 earnings at $1.23 EPS, Q3 2023 earnings at $1.19 EPS and Q4 2023 earnings at $1.11 EPS.

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

Several other analysts also recently issued reports on TECK. StockNews.com initiated coverage on Teck Resources in a research note on Thursday, March 31st. They set a “buy” rating for the company. Canaccord Genuity Group lowered Teck Resources from a “buy” rating to a “hold” rating and boosted their price target for the company from C$52.00 to C$54.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Teck Resources from $40.00 to $50.00 in a report on Thursday, March 10th. National Bank Financial boosted their target price on shares of Teck Resources from C$60.00 to C$65.00 in a research note on Tuesday. Finally, Canaccord Genuity Group cut Teck Resources from a “buy” rating to a “hold” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Teck Resources has an average rating of “Buy” and an average target price of $50.45.

TECK opened at $43.48 on Thursday. The stock has a market cap of $22.94 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.15 and a beta of 1.19. The company has a current ratio of 1.62, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30. Teck Resources has a 1 year low of $19.32 and a 1 year high of $44.93. The stock has a fifty day moving average price of $39.25 and a 200 day moving average price of $32.58.

Hedge funds have recently bought and sold shares of the company. Optimum Investment Advisors bought a new position in shares of Teck Resources during the 1st quarter valued at approximately $40,000. DeDora Capital Inc. purchased a new stake in shares of Teck Resources during the 1st quarter valued at about $45,000. Cornerstone Advisory LLC bought a new position in shares of Teck Resources in the 4th quarter valued at about $46,000. Koshinski Asset Management Inc. purchased a new position in Teck Resources in the first quarter worth about $70,000. Finally, Penserra Capital Management LLC bought a new stake in Teck Resources during the fourth quarter worth approximately $68,000. Hedge funds and other institutional investors own 54.12% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were issued a $0.0981 dividend. This is an increase from Teck Resources’s previous quarterly dividend of $0.04. The ex-dividend date was Monday, March 14th. This represents a $0.39 dividend on an annualized basis and a yield of 0.90%. Teck Resources’s dividend payout ratio is 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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Earnings History and Estimates for Teck Resources (NYSE:TECK)

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