Zacks: Brokerages Expect Teck Resources Limited (NYSE:TECK) to Post $1.98 Earnings Per Share

Equities analysts forecast that Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) will report $1.98 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Sixteen analysts have issued estimates for Teck Resources’ earnings, with estimates ranging from $0.97 to $3.25. Teck Resources posted earnings per share of $0.51 during the same quarter last year, which would indicate a positive year over year growth rate of 288.2%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Teck Resources will report full year earnings of $8.14 per share for the current financial year, with EPS estimates ranging from $5.82 to $12.18. For the next fiscal year, analysts anticipate that the business will post earnings of $5.46 per share, with EPS estimates ranging from $3.08 to $11.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Teck Resources.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last announced its quarterly earnings results on Wednesday, April 27th. The basic materials company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $1.09. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.01 billion. Teck Resources had a return on equity of 18.76% and a net margin of 25.82%. The company’s quarterly revenue was up 97.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share.

TECK has been the topic of several recent research reports. Raymond James increased their price target on Teck Resources from C$58.00 to C$64.00 in a report on Wednesday, April 20th. The Goldman Sachs Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Wednesday, March 9th. Credit Suisse Group raised their target price on Teck Resources from C$49.53 to C$58.00 in a report on Thursday, April 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Teck Resources from $50.00 to $48.00 in a report on Thursday, April 28th. Finally, Barclays raised their target price on Teck Resources from C$40.00 to C$55.00 in a report on Thursday, April 21st. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Teck Resources has a consensus rating of “Buy” and an average target price of $52.33.

Shares of NYSE:TECK opened at $39.94 on Thursday. The business’s 50 day simple moving average is $40.04 and its two-hundred day simple moving average is $33.59. The firm has a market cap of $21.24 billion, a P/E ratio of 6.62, a PEG ratio of 0.14 and a beta of 1.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.34 and a current ratio of 1.92. Teck Resources has a 52-week low of $19.32 and a 52-week high of $44.93.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be given a $0.10 dividend. This is an increase from Teck Resources’s previous quarterly dividend of $0.10. This represents a $0.40 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, June 14th. Teck Resources’s dividend payout ratio (DPR) is currently 6.47%.

Large investors have recently added to or reduced their stakes in the business. Optimum Investment Advisors purchased a new stake in Teck Resources in the first quarter worth $40,000. DeDora Capital Inc. purchased a new position in shares of Teck Resources in the first quarter valued at $45,000. Cornerstone Advisory LLC purchased a new position in shares of Teck Resources in the fourth quarter valued at $46,000. Financial Management Professionals Inc. grew its position in shares of Teck Resources by 79.7% in the first quarter. Financial Management Professionals Inc. now owns 1,258 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 558 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of Teck Resources in the fourth quarter valued at $68,000. 55.81% of the stock is owned by institutional investors and hedge funds.

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.

Read More

Get a free copy of the Zacks research report on Teck Resources (TECK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Teck Resources (NYSE:TECK)

Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.