FY2024 EPS Estimates for Teck Resources Lifted by Analyst

Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK - Equities researchers at National Bank Financial increased their FY2024 EPS estimates for shares of Teck Resources in a research report issued on Tuesday, January 21st. National Bank Financial analyst S. Nagle now expects that the basic materials company will post earnings of $1.61 per share for the year, up from their previous forecast of $1.60. National Bank Financial currently 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 - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The company's revenue for the quarter was down 20.6% compared to the same quarter last year.

Several other research firms have also recently weighed in on TECK. Raymond James reduced their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday. UBS Group cut Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. Scotiabank boosted their price target on Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a report on Tuesday, October 8th. StockNews.com raised Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a research report on Friday, October 25th. 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. According to MarketBeat, Teck Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.38.

Teck Resources Stock Up 0.1 %

Shares of TECK traded up $0.04 on Friday, hitting $43.39. The company's stock had a trading volume of 2,170,034 shares, compared to its average volume of 2,731,942. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $21.64 billion, a price-to-earnings ratio of 65.74 and a beta of 1.05. The firm's fifty day moving average price is $43.49 and its 200-day moving average price is $46.44. Teck Resources has a fifty-two week low of $36.50 and a fifty-two week high of $55.13.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, December 13th. Teck Resources's dividend payout ratio is currently 53.03%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Global Trust Asset Management LLC acquired a new stake in Teck Resources during the 4th quarter valued at $27,000. Eastern Bank acquired a new position in Teck Resources in the 3rd quarter valued at about $39,000. Wilmington Savings Fund Society FSB bought a new position in Teck Resources in the 3rd quarter valued at about $40,000. Bruce G. Allen Investments LLC lifted its position in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock worth $46,000 after acquiring an additional 383 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock worth $52,000 after acquiring an additional 409 shares during the period. Institutional investors own 78.06% of the company's stock.

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.