FY2028 EPS Estimate for Teck Resources Reduced by Analyst

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Scotiabank lowered their FY2028 earnings per share (EPS) estimates for shares of Teck Resources in a research report issued on Tuesday, October 14th. Scotiabank analyst O. Wowkodaw now anticipates that the basic materials company will post earnings per share of $1.35 for the year, down from their previous forecast of $1.37. Scotiabank has a “Outperform” rating on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.53 per share.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.07. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the business posted $0.79 EPS. Teck Resources’s quarterly revenue was up 12.3% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the company. Cibc World Mkts cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Benchmark lowered their target price on Teck Resources from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, July 28th. Veritas cut Teck Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Teck Resources from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Hold” and an average price target of $54.00.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $43.38 on Thursday. The business’s fifty day moving average price is $38.15 and its two-hundred day moving average price is $36.82. The stock has a market cap of $20.84 billion, a PE ratio of 114.15, a price-to-earnings-growth ratio of 0.64 and a beta of 0.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47. Teck Resources has a one year low of $28.32 and a one year high of $51.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its holdings in Teck Resources by 69.2% in the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock valued at $32,000 after buying an additional 350 shares during the last quarter. Costello Asset Management INC bought a new stake in Teck Resources in the first quarter valued at about $33,000. Banque Cantonale Vaudoise bought a new stake in Teck Resources in the first quarter valued at about $36,000. Golden State Wealth Management LLC increased its holdings in Teck Resources by 7,560.0% in the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $42,000 after buying an additional 1,134 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Teck Resources in the second quarter valued at about $49,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a dividend of $0.0918 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, September 15th. Teck Resources’s payout ratio is presently 94.74%.

Teck Resources Company Profile

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.