Teck Resources Ltd (NYSE:TECK) Expected to Post Quarterly Sales of $2.05 Billion

Equities analysts predict that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will announce $2.05 billion in sales for the current quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Teck Resources’ earnings, with the lowest sales estimate coming in at $1.91 billion and the highest estimate coming in at $2.22 billion. Teck Resources reported sales of $2.34 billion during the same quarter last year, which suggests a negative year over year growth rate of 12.4%. The business is scheduled to announce its next earnings report on Friday, February 21st.

On average, analysts expect that Teck Resources will report full year sales of $8.72 billion for the current financial year, with estimates ranging from $7.79 billion to $9.32 billion. For the next fiscal year, analysts anticipate that the company will post sales of $8.93 billion, with estimates ranging from $7.76 billion to $9.77 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Teck Resources.

Several equities research analysts have commented on the company. Bank of America lowered Teck Resources from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 13th. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Monday, December 16th. ValuEngine upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. Zacks Investment Research lowered Teck Resources from a “hold” rating to a “strong sell” rating and set a $15.00 price objective on the stock. in a research report on Friday, January 3rd. Finally, BMO Capital Markets lowered Teck Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Teck Resources presently has a consensus rating of “Hold” and an average target price of $30.00.

Several hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC raised its stake in Teck Resources by 47.6% in the 4th quarter. Advisory Services Network LLC now owns 2,501 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 806 shares during the last quarter. Aigen Investment Management LP acquired a new position in Teck Resources in the 4th quarter valued at $56,000. Bessemer Group Inc. raised its stake in Teck Resources by 60,907.1% in the 4th quarter. Bessemer Group Inc. now owns 8,541 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 8,527 shares during the last quarter. Stevens Capital Management LP acquired a new position in Teck Resources in the 4th quarter valued at $181,000. Finally, Virtu Financial LLC acquired a new position in Teck Resources in the 3rd quarter valued at $186,000. 53.40% of the stock is owned by institutional investors and hedge funds.

Teck Resources stock traded down $1.97 during mid-day trading on Friday, hitting $10.92. The company had a trading volume of 15,491,961 shares, compared to its average volume of 4,540,848. The company has a current ratio of 2.08, a quick ratio of 1.28 and a debt-to-equity ratio of 0.20. Teck Resources has a 12-month low of $10.85 and a 12-month high of $25.75. The company’s fifty day moving average is $14.56 and its 200-day moving average is $16.15. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 27.30 and a beta of 1.48.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include 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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