FY2016 EPS Estimates for Teck Resources Ltd. Lifted by Raymond James Financial (TCK)
Teck Resources Ltd. (NYSE:TCK) – Stock analysts at Raymond James Financial increased their FY2016 earnings per share estimates for Teck Resources in a research report issued on Thursday. Raymond James Financial analyst A. Terentiew now anticipates that the brokerage will post earnings per share of $1.14 for the year, up from their previous forecast of $1.00. Raymond James Financial has a “Market Perform” rating and a $21.00 price target 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 issued its earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.33 billion. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 earnings per share.
Several other analysts have also recently issued reports on TCK. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Teck Resources in a report on Tuesday, June 28th. TD Securities reaffirmed a “buy” rating and issued a $20.00 price target (up from $17.00) on shares of Teck Resources in a report on Friday, July 1st. Zacks Investment Research cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, July 1st. Deutsche Bank AG reaffirmed a “sell” rating on shares of Teck Resources in a report on Thursday, July 7th. Finally, Clarkson Capital raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, July 18th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.88.
Shares of Teck Resources (NYSE:TCK) opened at 18.77 on Friday. The firm’s market cap is $10.82 billion. Teck Resources has a 52 week low of $2.56 and a 52 week high of $19.08. The company has a 50 day moving average of $17.61 and a 200 day moving average of $13.36.
A number of hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. purchased a new stake in Teck Resources during the second quarter worth approximately $105,000. Macquarie Group Ltd. purchased a new stake in Teck Resources during the second quarter worth approximately $150,000. Fox Run Management L.L.C. purchased a new stake in Teck Resources during the third quarter worth 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 worth $253,000 after buying an additional 900 shares in 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 worth $317,000 after buying an additional 400 shares during the period. 47.23% of the stock is owned by institutional investors.
About Teck Resources
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.
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