Zacks: Brokerages Expect Teck Resources (TECK) to Announce $1.06 EPS

Wall Street brokerages expect that Teck Resources (NYSE:TECK) (TSE:TECK) will announce earnings of $1.06 per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Teck Resources’ earnings. The highest EPS estimate is $1.13 and the lowest is $0.96. Teck Resources reported earnings of $0.88 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 20.5%. The company is scheduled to report its next earnings results before the market opens on Tuesday, April 24th.

On average, analysts expect that Teck Resources will report full-year earnings of $3.75 per share for the current financial year, with EPS estimates ranging from $2.80 to $4.66. For the next year, analysts expect that the business will post earnings of $3.06 per share, with EPS estimates ranging from $2.17 to $4.29. Zacks’ EPS calculations are an average based on a survey of analysts that follow Teck Resources.

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Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.06). The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.28 billion. Teck Resources had a net margin of 20.83% and a return on equity of 13.69%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 earnings per share.

TECK has been the subject of a number of analyst reports. Scotiabank raised Teck Resources from an “outperform” rating to a “focus list” rating in a report on Monday, January 8th. Zacks Investment Research raised Teck Resources from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Wednesday, January 31st. ValuEngine raised Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Clarkson Capital cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, January 15th. Finally, Macquarie cut Teck Resources from an “outperform” rating to a “neutral” rating in a report on Tuesday, February 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Teck Resources currently has a consensus rating of “Buy” and a consensus target price of $31.05.

Shares of NYSE TECK traded up $0.68 during midday trading on Friday, reaching $26.98. 3,272,281 shares of the company traded hands, compared to its average volume of 3,584,054. The stock has a market cap of $14,781.74, a PE ratio of 7.88, a PEG 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. 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 business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were given a dividend of $0.04 per share. This is a positive change from Teck Resources’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 14th. Teck Resources’s payout ratio is presently 4.66%.

Several institutional investors have recently bought and sold shares of TECK. 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 54.32% of the company’s stock.

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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.

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

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