Wall Street brokerages expect Teck Resources Ltd (NYSE:TECK) (TSE:TECK) to report sales of $2.36 billion for the current quarter, Zacks reports. Fifteen analysts have made estimates for Teck Resources’ earnings, with the highest sales estimate coming in at $2.66 billion and the lowest estimate coming in at $2.16 billion. Teck Resources reported sales of $2.46 billion in the same quarter last year, which indicates a negative year over year growth rate of 4.1%. The company is scheduled to announce its next earnings results before the market opens on Thursday, October 24th.
According to Zacks, analysts expect that Teck Resources will report full-year sales of $9.40 billion for the current fiscal year, with estimates ranging from $8.88 billion to $9.95 billion. For the next fiscal year, analysts expect that the company will report sales of $9.04 billion, with estimates ranging from $8.00 billion to $9.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Teck Resources.
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 business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. During the same quarter in the previous year, the company earned $1.12 earnings per share.
Hedge funds have recently added to or reduced their stakes in the stock. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in Teck Resources by 15.8% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 54,085 shares of the basic materials company’s stock worth $1,236,000 after buying an additional 7,361 shares in the last quarter. Alberta Investment Management Corp increased its stake in shares of Teck Resources by 7.1% during the second quarter. Alberta Investment Management Corp now owns 2,957,917 shares of the basic materials company’s stock valued at $89,388,000 after purchasing an additional 195,000 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of Teck Resources by 12.4% during the second quarter. APG Asset Management N.V. now owns 1,466,654 shares of the basic materials company’s stock valued at $29,784,000 after purchasing an additional 161,600 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Teck Resources by 2.7% during the second quarter. Vanguard Group Inc. now owns 14,611,874 shares of the basic materials company’s stock valued at $336,950,000 after purchasing an additional 388,362 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of Teck Resources by 22.3% during the second quarter. Bank of Nova Scotia now owns 2,612,443 shares of the basic materials company’s stock valued at $59,912,000 after purchasing an additional 476,621 shares in the last quarter. 53.65% of the stock is owned by institutional investors.
Shares of Teck Resources stock traded up $0.13 during trading on Wednesday, reaching $15.63. 2,430,900 shares of the stock were exchanged, compared to its average volume of 2,716,772. The company has a quick ratio of 1.58, a current ratio of 2.47 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average is $17.01 and its 200 day moving average is $20.67. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 4.98 and a beta of 1.42. Teck Resources has a 1 year low of $14.89 and a 1 year high of $25.75.
The business also recently declared a — dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.0376 dividend. This represents a yield of 0.9%. The ex-dividend date was Thursday, September 12th. Teck Resources’s payout ratio is currently 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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