FY2024 EPS Estimates for Teck Resources Decreased by Analyst

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Zacks Research dropped their FY2024 EPS estimates for shares of Teck Resources in a report released on Wednesday, February 19th. Zacks Research analyst M. Das now expects that the basic materials company will post earnings of $1.63 per share for the year, down from their prior forecast of $1.67. The consensus estimate for Teck Resources’ current full-year earnings is $1.64 per share. Zacks Research also issued estimates for Teck Resources’ Q4 2024 earnings at $0.15 EPS, Q3 2026 earnings at $0.40 EPS, Q4 2026 earnings at $0.30 EPS and FY2026 earnings at $1.28 EPS.

A number of other research analysts have also commented on TECK. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Friday, October 25th. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Raymond James cut 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, January 22nd. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources Stock Down 5.2 %

TECK stock opened at $41.12 on Friday. The firm’s 50-day moving average is $41.95 and its two-hundred day moving average is $45.72. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of 62.30 and a beta of 1.02. Teck Resources has a 52 week low of $37.30 and a 52 week high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.0879 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.86%. Teck Resources’s dividend payout ratio is currently 53.03%.

Institutional Trading of Teck Resources

Several institutional investors and hedge funds have recently bought and sold shares of TECK. Stonebridge Financial Group LLC purchased a new position in shares of Teck Resources in the fourth quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new position in Teck Resources during the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. acquired a new stake in Teck Resources during the 4th quarter valued at $27,000. Community Bank N.A. acquired a new stake in Teck Resources during the 4th quarter valued at $33,000. Finally, Eastern Bank purchased a new stake in shares of Teck Resources in the third quarter valued at $39,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.