Zacks: Brokerages Anticipate Teck Resources Ltd (TECK) Will Announce Quarterly Sales of $2.30 Billion
Equities analysts predict that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will post sales of $2.30 billion for the current quarter, according to Zacks. Four analysts have issued estimates for Teck Resources’ earnings, with the highest sales estimate coming in at $2.58 billion and the lowest estimate coming in at $2.00 billion. Teck Resources posted sales of $2.66 billion during the same quarter last year, which would indicate a negative year over year growth rate of 13.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 21st.
On average, analysts expect that Teck Resources will report full year sales of $2.30 billion for the current financial year, with estimates ranging from $9.02 billion to $9.57 billion. For the next fiscal year, analysts expect that the business will report sales of $8.96 billion per share, with estimates ranging from $8.13 billion to $9.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Teck Resources.
TECK has been the topic of several research reports. MKM Partners reaffirmed a “buy” rating and issued a $28.00 price objective (up from $25.00) on shares of Teck Resources in a research report on Thursday, August 24th. ValuEngine cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 6th. BidaskClub cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 15th. Axiom Securities initiated coverage on shares of Teck Resources in a research report on Monday, September 18th. They issued a “sell” rating and a $16.00 price objective on the stock. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $26.00 price objective (up from $24.00) on shares of Teck Resources in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. Teck Resources has an average rating of “Buy” and a consensus target price of $28.94.
Teck Resources (NYSE:TECK) traded up $0.32 on Monday, reaching $24.14. 4,908,428 shares of the company traded hands, compared to its average volume of 5,008,797. The company has a market cap of $13,589.31, a PE ratio of 6.47, a P/E/G ratio of 1.01 and a beta of 1.31. Teck Resources has a 1-year low of $14.56 and a 1-year high of $26.45. The company has a quick ratio of 1.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.32.
The firm also recently declared a special dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.3141 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a yield of 0.72%. Teck Resources’s dividend payout ratio (DPR) is presently 5.06%.
A number of large investors have recently modified their holdings of TECK. Letko Brosseau & Associates Inc. bought a new stake in Teck Resources during the 2nd quarter worth about $237,787,000. Impala Asset Management LLC acquired a new position in shares of Teck Resources during the 2nd quarter worth about $217,614,000. Capital Research Global Investors acquired a new position in shares of Teck Resources during the 2nd quarter worth about $187,626,000. Vanguard Group Inc. acquired a new position in shares of Teck Resources during the 2nd quarter worth about $182,655,000. Finally, Contrarius Investment Management Ltd acquired a new position in shares of Teck Resources during the 2nd quarter worth about $144,456,000. 54.26% of the stock is currently owned by hedge funds and other institutional investors.
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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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