FY2016 EPS Estimates for Teck Resources Ltd. Lifted by Raymond James Financial (TCK)
Teck Resources Ltd. (NYSE:TCK) – Analysts at Raymond James Financial upped their FY2016 earnings estimates for Teck Resources in a report released on Thursday. Raymond James Financial analyst A. Terentiew now expects that the brokerage will earn $1.14 per share for the year, up from their prior forecast of $1.00. Raymond James Financial currently has a “Market Perform” rating and a $21.00 target price on the stock. Raymond James Financial also issued estimates for Teck Resources’ Q4 2016 earnings at $0.88 EPS, Q1 2017 earnings at $0.62 EPS, Q2 2017 earnings at $0.38 EPS, Q3 2017 earnings at $0.47 EPS, Q4 2017 earnings at $0.41 EPS and FY2017 earnings at $1.87 EPS.
Teck Resources (NYSE:TCK) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.33 billion. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. The firm’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 EPS.
Other research analysts have also issued research reports about the company. Dundee Securities upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research report on Friday. Clarkson Capital upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, July 18th. RBC Capital Markets lowered Teck Resources from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $16.00 to $23.00 in a research report on Friday, August 12th. Zacks Investment Research lowered Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Finally, FBR & Co raised their price objective on shares of Teck Resources from $15.00 to $16.00 and gave the stock a “mkt perform” rating in a research note on Wednesday, July 20th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.88.
Shares of Teck Resources (NYSE:TCK) opened at 18.77 on Friday. Teck Resources has a 1-year low of $2.56 and a 1-year high of $19.08. The stock’s market cap is $10.82 billion. The company has a 50 day moving average price of $17.61 and a 200 day moving average price of $13.36.
Several large investors have recently made changes to their positions in TCK. Advisor Group Inc. bought a new stake in shares of Teck Resources during the second quarter worth $105,000. Macquarie Group Ltd. acquired a new stake in Teck Resources during the second quarter valued at approximately $150,000. Fox Run Management L.L.C. acquired a new stake in Teck Resources during the third quarter valued at approximately $191,000. Commonwealth Equity Services Inc raised its stake in Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock valued at $253,000 after buying an additional 900 shares during the last quarter. Finally, Oak Associates Ltd. OH raised its stake in Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock valued at $317,000 after buying an additional 400 shares during the last quarter. 47.23% of the stock is currently owned by hedge funds and other institutional investors.
Teck Resources Company Profile
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
Receive News & Ratings for Teck Resources Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.