Brokerages expect Teck Resources Ltd (NYSE:TECK) to announce $0.74 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Teck Resources’ earnings. The lowest EPS estimate is $0.60 and the highest is $0.81. Teck Resources reported earnings per share of $1.21 in the same quarter last year, which would suggest a negative year-over-year growth rate of 38.8%. The company is expected to issue its next earnings report on Wednesday, February 21st.
On average, analysts expect that Teck Resources will report full-year earnings of $3.39 per share for the current year, with EPS estimates ranging from $3.25 to $3.65. For the next fiscal year, analysts anticipate that the business will report earnings of $2.48 per share, with EPS estimates ranging from $1.63 to $3.03. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Teck Resources.
Several equities research analysts recently commented on TECK shares. Zacks Investment Research downgraded Teck Resources from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th. MKM Partners reiterated a “buy” rating and issued a $28.00 price objective (up from $25.00) on shares of Teck Resources in a report on Thursday, August 24th. ValuEngine upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 5th. Finally, BMO Capital Markets lifted their price objective on Teck Resources from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of C$31.13.
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Several large investors have recently made changes to their positions in the stock. Letko Brosseau & Associates Inc. bought a new position in shares of Teck Resources during the 2nd quarter valued at approximately $237,787,000. Impala Asset Management LLC bought a new position in shares of Teck Resources during the 2nd quarter valued at approximately $217,614,000. Capital Research Global Investors bought a new position in shares of Teck Resources during the 2nd quarter valued at approximately $187,626,000. Vanguard Group Inc. bought a new position in shares of Teck Resources during the 2nd quarter valued at approximately $182,655,000. Finally, TD Asset Management Inc. grew its stake in shares of Teck Resources by 7.4% during the 3rd quarter. TD Asset Management Inc. now owns 9,073,233 shares of the company’s stock valued at $190,584,000 after acquiring an additional 627,705 shares during the period. Institutional investors own 47.08% of the company’s stock.
Teck Resources (NYSE:TECK) opened at C$21.53 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.42. The stock has a market capitalization of $12,282.87, a PE ratio of 5.85, a PEG ratio of 0.82 and a beta of 1.26. Teck Resources has a 52-week low of C$14.56 and a 52-week high of C$33.76.
About Teck Resources
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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