$3.64 Billion in Sales Expected for Teck Resources Limited (NYSE:TECK) This Quarter

Wall Street brokerages expect Teck Resources Limited (NYSE:TECK – Get Rating) (TSE:TECK) to announce $3.64 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Sixteen analysts have provided estimates for Teck Resources’ earnings, with the highest sales estimate coming in at $4.67 billion and the lowest estimate coming in at $2.53 billion. Teck Resources posted sales of $2.08 billion in the same quarter last year, which suggests a positive year over year growth rate of 75%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Teck Resources will report full year sales of $15.06 billion for the current financial year, with estimates ranging from $12.96 billion to $19.74 billion. For the next financial year, analysts expect that the business will report sales of $13.68 billion, with estimates ranging from $10.60 billion to $19.58 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Teck Resources.

Teck Resources (NYSE:TECK – Get Rating) (TSE:TECK) last issued its quarterly earnings data on Wednesday, April 27th. The basic materials company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $1.09. Teck Resources had a return on equity of 18.76% and a net margin of 25.82%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was up 97.6% on a year-over-year basis.

Several equities research analysts have recently commented on the company. National Bank Financial upped their price target on Teck Resources from C$60.00 to C$65.00 in a research note on Tuesday, April 19th. Canaccord Genuity Group cut Teck Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, April 19th. Barclays upped their price target on Teck Resources from C$40.00 to C$55.00 in a research note on Thursday, April 21st. The Goldman Sachs Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Wednesday, March 9th. Finally, Canaccord Genuity Group cut their price target on Teck Resources from C$54.00 to C$53.00 in a research note on Thursday, April 28th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $52.33.

Shares of Teck Resources stock traded up $1.52 during trading hours on Friday, hitting $37.16. 3,936,190 shares of the company were exchanged, compared to its average volume of 6,372,805. Teck Resources has a 1 year low of $19.32 and a 1 year high of $44.93. The company has a current ratio of 1.92, a quick ratio of 1.34 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $39.76 and a 200-day moving average of $33.85. The stock has a market capitalization of $19.76 billion, a price-to-earnings ratio of 6.16, a P/E/G ratio of 0.12 and a beta of 1.13.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a $0.10 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, June 14th. This represents a $0.40 annualized dividend and a yield of 1.08%. Teck Resources’s dividend payout ratio is 6.47%.

A number of institutional investors have recently bought and sold shares of the business. Optimum Investment Advisors acquired a new stake in shares of Teck Resources during the first quarter valued at $40,000. Kistler Tiffany Companies LLC boosted its stake in shares of Teck Resources by 95.9% during the first quarter. Kistler Tiffany Companies LLC now owns 1,056 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 517 shares during the last quarter. DeDora Capital Inc. acquired a new stake in shares of Teck Resources during the first quarter valued at $45,000. Cornerstone Advisory LLC acquired a new stake in shares of Teck Resources during the fourth quarter valued at $46,000. Finally, Financial Management Professionals Inc. boosted its stake in shares of Teck Resources by 79.7% during the first quarter. Financial Management Professionals Inc. now owns 1,258 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 558 shares during the last quarter. 55.81% of the stock is currently owned by institutional investors.

Teck Resources Company Profile (Get Rating)

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.

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