Q4 2021 EPS Estimates for Teck Resources Limited (NYSE:TECK) Reduced by Analyst


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Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Stock analysts at B. Riley reduced their Q4 2021 EPS estimates for shares of Teck Resources in a research note issued on Wednesday, April 7th. B. Riley analyst L. Pipes now expects that the basic materials company will earn $0.74 per share for the quarter, down from their previous forecast of $0.78. B. Riley has a “Buy” rating on the stock.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 18th. The basic materials company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Teck Resources had a negative net margin of 14.37% and a positive return on equity of 2.49%.

Other equities research analysts also recently issued research reports about the company. Scotiabank lifted their target price on Teck Resources from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, January 11th. Canaccord Genuity downgraded Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, January 8th. CIBC lifted their target price on Teck Resources from $25.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, March 1st. Raymond James lifted their target price on Teck Resources from $23.50 to $28.00 and gave the stock an “outperform” rating in a report on Friday, January 15th. Finally, Morgan Stanley lifted their target price on Teck Resources from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday, March 30th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Teck Resources currently has a consensus rating of “Buy” and a consensus price target of $25.31.

TECK opened at $20.13 on Thursday. Teck Resources has a fifty-two week low of $6.79 and a fifty-two week high of $23.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.34. The company has a market capitalization of $10.54 billion, a P/E ratio of -11.31 and a beta of 1.27. The stock has a fifty day moving average of $20.93 and a 200-day moving average of $17.66.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were given a $0.0394 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Friday, March 12th. This is a boost from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s payout ratio is currently 6.76%.

Institutional investors have recently added to or reduced their stakes in the business. Confluence Investment Management LLC bought a new position in Teck Resources in the fourth quarter valued at about $184,000. Lorne Steinberg Wealth Management Inc. bought a new position in Teck Resources in the fourth quarter valued at about $189,000. Paloma Partners Management Co bought a new stake in shares of Teck Resources during the fourth quarter worth about $231,000. Blair William & Co. IL grew its holdings in shares of Teck Resources by 12.1% during the fourth quarter. Blair William & Co. IL now owns 13,526 shares of the basic materials company’s stock worth $245,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Pendal Group Limited bought a new stake in shares of Teck Resources during the fourth quarter worth about $297,000. Hedge funds and other institutional investors own 47.07% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. 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 and molybdenum concentrates.

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

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