Zacks: Brokerages Expect Teck Resources Ltd (NYSE:TECK) Will Announce Quarterly Sales of $2.40 Billion

Equities research analysts expect that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will report sales of $2.40 billion for the current quarter, Zacks reports. Seventeen analysts have made estimates for Teck Resources’ earnings. The highest sales estimate is $2.52 billion and the lowest is $2.26 billion. Teck Resources posted sales of $2.46 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.4%. The firm is expected to report its next earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that Teck Resources will report full year sales of $9.46 billion for the current fiscal year, with estimates ranging from $9.01 billion to $10.00 billion. For the next fiscal year, analysts forecast that the business will post sales of $9.07 billion, with estimates ranging from $8.54 billion to $9.66 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Teck Resources.

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

TECK has been the topic of several recent research reports. B. Riley reiterated a “buy” rating on shares of Teck Resources in a report on Friday, July 12th. 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. MKM Partners restated a “buy” rating and issued 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 cut shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $29.33.

Teck Resources stock traded down $0.61 during midday trading on Friday, hitting $18.56. 3,626,193 shares of the company’s stock were exchanged, compared to its average volume of 2,709,740. The company has a current ratio of 2.47, a quick ratio of 2.06 and a debt-to-equity ratio of 0.20. Teck Resources has a 12 month low of $18.17 and a 12 month high of $25.82. The business’s 50-day moving average price is $22.05. The firm has a market cap of $10.42 billion, a P/E ratio of 5.91 and a beta of 1.37.

A number of hedge funds have recently added to or reduced their stakes in TECK. Steward Partners Investment Advisory LLC acquired a new stake in Teck Resources in the 2nd quarter worth approximately $32,000. CWM LLC acquired a new stake in Teck Resources in the 2nd quarter worth approximately $66,000. Quadrant Capital Group LLC boosted its stake in Teck Resources by 35.4% in the 1st quarter. Quadrant Capital Group LLC now owns 7,388 shares of the basic materials company’s stock worth $168,000 after purchasing an additional 1,931 shares in the last quarter. Signaturefd LLC boosted its stake in Teck Resources by 13.6% in the 2nd quarter. Signaturefd LLC now owns 10,559 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 1,267 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. acquired a new stake in Teck Resources in the 1st quarter worth approximately $252,000. Institutional investors own 55.19% 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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