Teck Resources (TECK) Expected to Announce Quarterly Sales of $2.52 Billion

Analysts expect Teck Resources (NYSE:TECK) (TSE:TECK) to report sales of $2.52 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Teck Resources’ earnings, with estimates ranging from $2.45 billion to $2.61 billion. Teck Resources reported sales of $2.19 billion in the same quarter last year, which indicates a positive year over year growth rate of 15.1%. The company is expected to report its next earnings report before the market opens on Tuesday, April 24th.

According to Zacks, analysts expect that Teck Resources will report full-year sales of $10.20 billion for the current year, with estimates ranging from $9.40 billion to $10.76 billion. For the next financial year, analysts expect that the firm will report sales of $9.55 billion per share, with estimates ranging from $8.63 billion to $10.39 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Teck Resources.

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



A number of analysts have issued reports on TECK shares. Clarkson Capital downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, January 15th. Macquarie downgraded Teck Resources from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 20th. They noted that the move was a valuation call. Bank of America downgraded Teck Resources to a “hold” rating in a research note on Tuesday, February 20th. They noted that the move was a valuation call. ValuEngine raised Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. Finally, Zacks Investment Research downgraded Teck Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Teck Resources presently has an average rating of “Buy” and a consensus target price of $31.05.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bartlett & Co. LLC purchased a new position in shares of Teck Resources during the 4th quarter worth $118,000. We Are One Seven LLC purchased a new position in Teck Resources during the 4th quarter valued at about $162,000. C M Bidwell & Associates Ltd. purchased a new position in Teck Resources during the 4th quarter valued at about $199,000. Cigna Investments Inc. New purchased a new position in Teck Resources during the 4th quarter valued at about $204,000. Finally, Greenleaf Trust purchased a new position in Teck Resources during the 4th quarter valued at about $211,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

NYSE TECK remained flat at $$26.65 during mid-day trading on Friday. The company had a trading volume of 2,175,184 shares, compared to its average volume of 3,556,594. Teck Resources has a 1 year low of $14.56 and a 1 year high of $30.80. The company has a current ratio of 1.81, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The firm has a market cap of $15,262.58, a P/E ratio of 7.77, a P/E/G ratio of 0.69 and a beta of 1.50.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were issued a dividend of $0.04 per share. The ex-dividend date was Wednesday, March 14th. This is a boost from Teck Resources’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. Teck Resources’s dividend payout ratio is currently 4.66%.

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About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise 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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