FY2024 EPS Estimates for Teck Resources Increased by Analyst

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Stock analysts at National Bank Financial raised their FY2024 earnings per share estimates for Teck Resources in a report released on Tuesday, January 21st. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will post earnings per share of $1.61 for the year, up from their previous forecast of $1.60. National Bank Financial has a “Sector Perform” rating on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. National Bank Financial also issued estimates for Teck Resources’ FY2027 earnings at $1.08 EPS and FY2028 earnings at $0.65 EPS.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.36 by $0.24. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The firm’s revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS.

A number of other analysts have also commented on TECK. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Citigroup raised shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Raymond James dropped their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday. Scotiabank boosted their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, October 8th. Finally, StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Stock Up 0.1 %

Shares of TECK opened at $43.39 on Friday. The stock has a market capitalization of $21.64 billion, a price-to-earnings ratio of 65.74 and a beta of 1.05. Teck Resources has a 52 week low of $36.50 and a 52 week high of $55.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The stock has a fifty day moving average of $43.49 and a 200-day moving average of $46.43.

Institutional Trading of Teck Resources

Several hedge funds have recently modified their holdings of TECK. Global Trust Asset Management LLC acquired a new stake in Teck Resources in the fourth quarter worth $27,000. Eastern Bank bought a new stake in Teck Resources in the 3rd quarter valued at about $39,000. Wilmington Savings Fund Society FSB bought a new stake in Teck Resources in the 3rd quarter valued at about $40,000. Bruce G. Allen Investments LLC raised its stake in Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after buying an additional 383 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 409 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is 53.03%.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.