Teck Resources Ltd (TECK) Expected to Announce Quarterly Sales of $2.64 Billion

Wall Street analysts predict that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will report $2.64 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Teck Resources’ earnings, with estimates ranging from $2.56 billion to $2.75 billion. Teck Resources posted sales of $2.19 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.5%. The company is expected to announce its next earnings report on Tuesday, April 24th.

On average, analysts expect that Teck Resources will report full-year sales of $2.64 billion for the current year, with estimates ranging from $9.37 billion to $10.82 billion. For the next financial year, analysts forecast that the company will post sales of $9.37 billion per share, with estimates ranging from $8.24 billion to $10.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Teck Resources.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). Teck Resources had a net margin of 20.83% and a return on equity of 13.69%. The business had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the business posted $1.61 earnings per share. The firm’s quarterly revenue was down 9.8% on a year-over-year basis.

A number of research analysts have weighed in on TECK shares. BidaskClub lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. Berenberg Bank reiterated a “buy” rating and issued a $27.50 target price on shares of Teck Resources in a report on Tuesday, October 31st. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. B. Riley reiterated a “buy” rating on shares of Teck Resources in a report on Wednesday, November 1st. Finally, CIBC started coverage on shares of Teck Resources in a report on Friday, November 17th. They issued a “sector outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $30.94.

A number of hedge funds and other institutional investors have recently bought and sold shares of TECK. Bartlett & Co. LLC purchased a new stake in Teck Resources during the fourth quarter worth about $118,000. PNC Financial Services Group Inc. purchased a new stake in Teck Resources during the second quarter worth about $124,000. We Are One Seven LLC purchased a new stake in Teck Resources during the fourth quarter worth about $162,000. C M Bidwell & Associates Ltd. purchased a new stake in Teck Resources during the fourth quarter worth about $199,000. Finally, Private Advisor Group LLC purchased a new stake in Teck Resources during the third quarter worth about $200,000. Institutional investors and hedge funds own 53.08% of the company’s stock.

Teck Resources (TECK) opened at $29.20 on Friday. Teck Resources has a 12 month low of $14.56 and a 12 month high of $30.80. The firm has a market cap of $16,800.00, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 1.13 and a beta of 1.40. The company has a quick ratio of 1.19, a current ratio of 1.81 and a debt-to-equity ratio of 0.32.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s dividend payout ratio (DPR) is 4.68%.

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Teck Resources Company Profile

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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