National Bank Financial Analysts Decrease Earnings Estimates for Teck Resources Ltd (NYSE:TECK)

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Equities research analysts at National Bank Financial dropped their FY2019 earnings estimates for shares of Teck Resources in a report issued on Sunday, August 11th. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will post earnings of $2.46 per share for the year, down from their previous estimate of $2.72.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Teck Resources had a return on equity of 8.49% and a net margin of 20.37%. During the same period in the prior year, the company earned $1.12 earnings per share.



Several other research analysts have also recently issued reports on the stock. TD Securities cut shares of Teck Resources to a “buy” rating in a report on Monday, July 22nd. ValuEngine cut shares of Teck Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. B. Riley reissued a “buy” rating on shares of Teck Resources in a report on Friday, July 12th. MKM Partners reissued a “buy” rating and set a $28.00 price target (up from $26.00) on shares of Teck Resources in a report on Wednesday, April 24th. Finally, Zacks Investment Research lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $29.33.

NYSE TECK opened at $16.62 on Wednesday. The stock has a market capitalization of $9.25 billion, a P/E ratio of 5.29 and a beta of 1.38. Teck Resources has a 52-week low of $16.43 and a 52-week high of $25.82. The firm has a 50-day moving average price of $20.67 and a 200 day moving average price of $22.01. The company has a quick ratio of 1.58, a current ratio of 2.47 and a debt-to-equity ratio of 0.20.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC acquired a new stake in Teck Resources during the second quarter worth approximately $32,000. Kempen Capital Management N.V. acquired a new stake in Teck Resources during the second quarter worth approximately $53,000. CWM LLC acquired a new stake in Teck Resources during the second quarter worth approximately $66,000. Glen Harbor Capital Management LLC boosted its position in Teck Resources by 18.0% during the second quarter. Glen Harbor Capital Management LLC now owns 5,192 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 792 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its position in Teck Resources by 19.8% during the second quarter. Riverhead Capital Management LLC now owns 5,988 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 988 shares during the last quarter. Institutional investors own 54.84% of the company’s stock.

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

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