Teck Resources Ltd (TECK) Forecasted to Post Q1 2019 Earnings of $0.71 Per Share
Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – B. Riley cut their Q1 2019 EPS estimates for Teck Resources in a research note issued to investors on Tuesday, April 9th. B. Riley analyst L. Pipes now forecasts that the basic materials company will post earnings per share of $0.71 for the quarter, down from their prior forecast of $0.74. B. Riley also issued estimates for Teck Resources’ Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.60 EPS, FY2019 earnings at $2.51 EPS, Q1 2020 earnings at $0.54 EPS and Q4 2020 earnings at $0.55 EPS.
TECK has been the topic of a number of other research reports. Goldman Sachs Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Monday, January 14th. Zacks Investment Research raised shares of Teck Resources from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Tuesday, January 22nd. Raymond James reissued a “buy” rating on shares of Teck Resources in a report on Friday, January 18th. Bank of America raised shares of Teck Resources to a “buy” rating in a report on Thursday, December 20th. Finally, MKM Partners started coverage on shares of Teck Resources in a report on Friday, January 18th. They issued a “buy” rating and a $28.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $29.14.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, February 13th. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.28 billion. Teck Resources had a net margin of 24.75% and a return on equity of 10.81%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of Teck Resources by 130.8% during the fourth quarter. Quadrant Capital Group LLC now owns 5,457 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 3,093 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Teck Resources by 246.7% during the third quarter. Riverhead Capital Management LLC now owns 5,200 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 3,700 shares during the last quarter. We Are One Seven LLC purchased a new position in shares of Teck Resources during the fourth quarter valued at approximately $131,000. Cerebellum GP LLC purchased a new position in shares of Teck Resources during the fourth quarter valued at approximately $145,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Teck Resources by 2,300.0% during the fourth quarter. Acadian Asset Management LLC now owns 7,200 shares of the basic materials company’s stock valued at $155,000 after purchasing an additional 6,900 shares during the last quarter. 56.23% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s payout ratio is 4.78%.
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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