Q2 2024 EPS Estimates for Teck Resources Limited Boosted by Analyst (NYSE:TECK)

Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) – Research analysts at Raymond James lifted their Q2 2024 earnings per share (EPS) estimates for Teck Resources in a report issued on Saturday, July 6th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings per share of $0.59 for the quarter, up from their previous forecast of $0.55. The consensus estimate for Teck Resources’ current full-year earnings is $2.17 per share. Raymond James also issued estimates for Teck Resources’ Q4 2024 earnings at $0.56 EPS, Q1 2025 earnings at $0.40 EPS, Q2 2025 earnings at $0.38 EPS, Q3 2025 earnings at $0.35 EPS, Q4 2025 earnings at $0.37 EPS and FY2025 earnings at $1.50 EPS.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion.

TECK has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Morgan Stanley raised their price target on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Finally, Benchmark raised their price target on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and an average price target of $58.80.

View Our Latest Stock Report on Teck Resources

Teck Resources Trading Up 2.9 %

NYSE:TECK opened at $49.67 on Tuesday. The firm has a market cap of $25.37 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 10.87 and a beta of 1.05. The stock has a fifty day moving average price of $49.89 and a 200 day moving average price of $44.89. Teck Resources has a 12-month low of $34.38 and a 12-month high of $55.13. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a $0.0911 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Monday, June 17th. Teck Resources’s dividend payout ratio is presently 15.93%.

Institutional Investors Weigh In On Teck Resources

Institutional investors have recently added to or reduced their stakes in the business. First Hawaiian Bank raised its position in shares of Teck Resources by 6.0% during the 1st quarter. First Hawaiian Bank now owns 5,552 shares of the basic materials company’s stock worth $254,000 after purchasing an additional 313 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Teck Resources by 3.3% during the 1st quarter. Verdence Capital Advisors LLC now owns 10,981 shares of the basic materials company’s stock worth $503,000 after purchasing an additional 353 shares during the last quarter. Wealthsource Partners LLC raised its position in shares of Teck Resources by 4.6% during the 4th quarter. Wealthsource Partners LLC now owns 8,106 shares of the basic materials company’s stock worth $343,000 after purchasing an additional 359 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 386 shares during the last quarter. Finally, Cigna Investments Inc. New raised its holdings in Teck Resources by 4.6% in the 4th quarter. Cigna Investments Inc. New now owns 8,800 shares of the basic materials company’s stock valued at $374,000 after acquiring an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Teck Resources (NYSE:TECK)

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