Teck Resources to Post Q1 2018 Earnings of $0.96 Per Share, B. Riley Forecasts (TECK)

Teck Resources (NYSE:TECK) (TSE:TECK) – Equities researchers at B. Riley lowered their Q1 2018 earnings estimates for shares of Teck Resources in a research note issued to investors on Tuesday, April 17th. B. Riley analyst L. Pipes now anticipates that the basic materials company will post earnings per share of $0.96 for the quarter, down from their previous forecast of $1.14. B. Riley also issued estimates for Teck Resources’ Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $3.24 EPS, Q1 2019 earnings at $0.74 EPS, Q2 2019 earnings at $0.68 EPS, FY2019 earnings at $3.05 EPS and FY2020 earnings at $2.43 EPS.

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Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Teck Resources had a return on equity of 13.69% and a net margin of 20.83%. The business’s revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.61 earnings per share.

A number of other research firms have also weighed in on TECK. Zacks Investment Research lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Morgan Stanley lifted their price objective on shares of Teck Resources from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. ValuEngine lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 2nd. Bank of America set a $36.00 price objective on shares of Teck Resources and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Clarkson Capital lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, January 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Teck Resources has a consensus rating of “Buy” and an average target price of $31.05.

Shares of TECK opened at $26.98 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.81. The company has a market cap of $14,781.74, a PE ratio of 7.87, a price-to-earnings-growth ratio of 0.67 and a beta of 1.50. Teck Resources has a 12-month low of $14.56 and a 12-month high of $30.80.

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in Teck Resources by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 611,879 shares of the basic materials company’s stock valued at $12,904,000 after acquiring an additional 13,783 shares during the period. Scotia Capital Inc. lifted its holdings in Teck Resources by 70.1% in the fourth quarter. Scotia Capital Inc. now owns 676,290 shares of the basic materials company’s stock valued at $17,681,000 after acquiring an additional 278,711 shares during the period. Stifel Financial Corp lifted its holdings in Teck Resources by 50.5% in the third quarter. Stifel Financial Corp now owns 79,790 shares of the basic materials company’s stock valued at $1,686,000 after acquiring an additional 26,759 shares during the period. Encompass Capital Advisors LLC acquired a new stake in Teck Resources in the fourth quarter valued at $14,394,000. Finally, Jones Collombin Investment Counsel Inc lifted its holdings in Teck Resources by 14.0% in the fourth quarter. Jones Collombin Investment Counsel Inc now owns 271,710 shares of the basic materials company’s stock valued at $7,105,000 after acquiring an additional 33,460 shares during the period. 54.32% of the stock is owned by institutional investors.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were issued a $0.04 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.59%. This is an increase from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s dividend payout ratio (DPR) is 4.66%.

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About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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

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