Brokerages forecast that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will post $2.60 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Teck Resources’ earnings, with estimates ranging from $2.45 billion to $2.75 billion. Teck Resources posted sales of $2.19 billion during the same quarter last year, which suggests a positive year over year growth rate of 18.7%. The company is expected to report its next earnings report on Tuesday, April 24th.
On average, analysts expect that Teck Resources will report full-year sales of $2.60 billion for the current financial year, with estimates ranging from $9.23 billion to $10.82 billion. For the next fiscal year, analysts expect that the firm will report sales of $9.24 billion per share, with estimates ranging from $7.84 billion to $10.27 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Teck Resources.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.95 EPS for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.06). Teck Resources had a net margin of 20.83% and a return on equity of 13.69%. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the prior year, the company earned $1.61 EPS. Teck Resources’s quarterly revenue was down 9.8% on a year-over-year basis.
A number of research firms have issued reports on TECK. Scotiabank upgraded Teck Resources from an “outperform” rating to a “focus list” rating in a report on Monday, January 8th. CIBC began coverage on Teck Resources in a report on Friday, November 17th. They set a “sector outperform” rating for the company. Zacks Investment Research upgraded Teck Resources from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Wednesday, January 31st. Citigroup cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. Finally, ValuEngine upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Teck Resources has a consensus rating of “Buy” and an average target price of $30.06.
Institutional investors have recently bought and sold shares of the company. Bartlett & Co. LLC acquired a new position in shares of Teck Resources during the 4th quarter worth about $118,000. We Are One Seven LLC acquired a new position in shares of Teck Resources during the 4th quarter worth about $162,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Teck Resources during the 4th quarter worth about $199,000. Private Advisor Group LLC acquired a new position in shares of Teck Resources during the 3rd quarter worth about $200,000. Finally, Cigna Investments Inc. New acquired a new position in shares of Teck Resources during the 4th quarter worth about $204,000. Institutional investors own 54.28% of the company’s stock.
Teck Resources (NYSE TECK) traded down $0.21 on Monday, hitting $27.20. 1,703,103 shares of the company were exchanged, compared to its average volume of 4,010,975. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.81. Teck Resources has a 1-year low of $14.56 and a 1-year high of $30.80. The company has a market cap of $15,600.00, a PE ratio of 8.12, a P/E/G ratio of 0.74 and a beta of 1.37.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.59%. This is an increase from Teck Resources’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 14th. Teck Resources’s dividend payout ratio is currently 4.78%.
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Teck Resources Company Profile
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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