Brokerages Anticipate Teck Resources Ltd (NYSE:TECK) to Announce -$0.03 Earnings Per Share

Equities analysts expect Teck Resources Ltd (NYSE:TECK) (TSE:TECK) to announce ($0.03) earnings per share for the current quarter, according to Zacks. Sixteen analysts have made estimates for Teck Resources’ earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at ($0.26). Teck Resources reported earnings per share of $0.60 in the same quarter last year, which indicates a negative year over year growth rate of 105%. The business is scheduled to announce its next quarterly earnings results on Thursday, July 23rd.

According to Zacks, analysts expect that Teck Resources will report full-year earnings of $0.61 per share for the current financial year, with EPS estimates ranging from $0.00 to $1.82. For the next fiscal year, analysts expect that the company will report earnings of $1.53 per share, with EPS estimates ranging from $0.68 to $2.55. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Teck Resources.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Teck Resources had a negative net margin of 5.40% and a positive return on equity of 5.14%. During the same period last year, the firm posted $0.99 earnings per share.

Several analysts recently commented on TECK shares. Benchmark started coverage on shares of Teck Resources in a research note on Monday, March 2nd. They set a “buy” rating and a $14.00 target price for the company. Citigroup lowered shares of Teck Resources from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Wednesday, April 22nd. Canaccord Genuity reissued a “buy” rating and set a $25.50 target price on shares of Teck Resources in a research note on Wednesday, February 26th. Deutsche Bank cut their target price on shares of Teck Resources from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, Morgan Stanley cut their target price on shares of Teck Resources from $10.50 to $9.50 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.38.

Several large investors have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. lifted its position in Teck Resources by 72.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 360,876 shares of the basic materials company’s stock worth $8,365,000 after buying an additional 152,124 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Teck Resources by 68.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 261,212 shares of the basic materials company’s stock worth $4,537,000 after buying an additional 106,257 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new stake in Teck Resources in the 4th quarter worth approximately $1,085,000. M&G Investment Management Ltd. purchased a new stake in Teck Resources in the 4th quarter worth approximately $5,059,000. Finally, QV Investors Inc. acquired a new position in shares of Teck Resources during the 4th quarter worth $21,725,000. Institutional investors and hedge funds own 48.23% of the company’s stock.

TECK stock traded down $0.31 on Friday, hitting $9.16. 2,569,912 shares of the company’s stock traded hands, compared to its average volume of 5,866,997. Teck Resources has a 1-year low of $5.60 and a 1-year high of $23.30. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of -10.65, a P/E/G ratio of 5.90 and a beta of 1.51. The stock has a fifty day moving average of $8.20 and a 200-day moving average of $12.47. The company has a current ratio of 1.35, a quick ratio of 0.63 and a debt-to-equity ratio of 0.23.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.036 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.14 annualized dividend and a dividend yield of 1.57%. Teck Resources’s dividend payout ratio (DPR) is presently 6.76%.

About Teck Resources

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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