National Bank Financial Research Analysts Decrease Earnings Estimates for Teck Resources Ltd (TECK)
Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – National Bank Financial cut their Q3 2018 EPS estimates for shares of Teck Resources in a report released on Wednesday, October 10th. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will post earnings per share of $0.83 for the quarter, down from their previous forecast of $0.97. National Bank Financial also issued estimates for Teck Resources’ FY2018 earnings at $3.73 EPS and FY2019 earnings at $3.31 EPS.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.28. Teck Resources had a net margin of 22.12% and a return on equity of 13.56%. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the firm posted $1.00 EPS. Teck Resources’s revenue was up 6.5% compared to the same quarter last year.
TECK opened at $23.66 on Monday. The company has a current ratio of 2.38, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 0.66 and a beta of 1.43. Teck Resources has a 1 year low of $20.06 and a 1 year high of $30.80.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Thursday, September 13th. Teck Resources’s dividend payout ratio (DPR) is currently 4.37%.
Several large investors have recently modified their holdings of the stock. KAMES CAPITAL plc boosted its holdings in shares of Teck Resources by 80.4% in the 3rd quarter. KAMES CAPITAL plc now owns 86,977 shares of the basic materials company’s stock worth $2,095,000 after buying an additional 38,756 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Teck Resources by 1.0% in the 2nd quarter. Schroder Investment Management Group now owns 1,637,788 shares of the basic materials company’s stock worth $53,555,000 after buying an additional 16,675 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Teck Resources by 2,675.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,191 shares of the basic materials company’s stock worth $107,000 after buying an additional 4,040 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in shares of Teck Resources by 28.1% in the 2nd quarter. Nomura Holdings Inc. now owns 14,092 shares of the basic materials company’s stock worth $359,000 after buying an additional 3,091 shares during the last quarter. Finally, Andra AP fonden boosted its holdings in shares of Teck Resources by 22.5% in the 2nd quarter. Andra AP fonden now owns 102,300 shares of the basic materials company’s stock worth $3,426,000 after buying an additional 18,800 shares during the last quarter. 54.56% of the stock is currently owned by institutional investors.
About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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