$2.50 Billion in Sales Expected for Teck Resources Ltd (TECK) This Quarter

Brokerages expect Teck Resources Ltd (NYSE:TECK) (TSE:TECK) to announce sales of $2.50 billion for the current fiscal quarter, Zacks Investment Research reports. Eighteen analysts have issued estimates for Teck Resources’ earnings, with the highest sales estimate coming in at $2.64 billion and the lowest estimate coming in at $2.21 billion. Teck Resources also reported sales of $2.50 billion in the same quarter last year. The firm is expected to report its next earnings report before the market opens on Thursday, October 25th.

On average, analysts expect that Teck Resources will report full-year sales of $9.67 billion for the current financial year, with estimates ranging from $9.09 billion to $10.16 billion. For the next financial year, analysts forecast that the firm will post sales of $9.13 billion, with estimates ranging from $7.95 billion to $10.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Teck Resources.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.28. Teck Resources had a net margin of 22.12% and a return on equity of 13.56%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the business posted $1.00 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis.

TECK has been the topic of a number of research analyst reports. ValuEngine lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research lowered shares of Teck Resources from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Morgan Stanley raised their price objective on shares of Teck Resources from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, June 29th. Clarkson Capital upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, September 11th. Finally, MKM Partners dropped their price objective on shares of Teck Resources to $30.00 and set a “buy” rating on the stock in a report on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $31.07.

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position in shares of Teck Resources by 2,675.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,191 shares of the basic materials company’s stock valued at $107,000 after acquiring an additional 4,040 shares during the period. NumerixS Investment Technologies Inc bought a new position in shares of Teck Resources in the 2nd quarter valued at about $111,000. Regentatlantic Capital LLC bought a new position in shares of Teck Resources in the 2nd quarter valued at about $200,000. Seven Eight Capital LP bought a new position in shares of Teck Resources in the 1st quarter valued at about $223,000. Finally, Bayesian Capital Management LP bought a new position in shares of Teck Resources in the 1st quarter valued at about $247,000. 54.56% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:TECK traded down $0.12 during midday trading on Friday, reaching $23.90. 115,115 shares of the company were exchanged, compared to its average volume of 2,977,890. Teck Resources has a fifty-two week low of $20.06 and a fifty-two week high of $30.80. The company has a quick ratio of 1.51, a current ratio of 2.38 and a debt-to-equity ratio of 0.31. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.66 and a beta of 1.43.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 13th. Teck Resources’s dividend payout ratio (DPR) is currently 4.37%.

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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