Teck Resources (NYSE:TECK) Posts Earnings Results, Beats Expectations By $0.07 EPS

Teck Resources (NYSE:TECK) (TSE:TECK) issued its quarterly earnings results on Thursday. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07, Zacks reports. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $41.12 on Friday. Teck Resources has a 52 week low of $37.30 and a 52 week high of $55.13. The business’s fifty day simple moving average is $41.95 and its 200-day simple moving average is $45.72. The firm has a market cap of $20.51 billion, a PE ratio of 74.76 and a beta of 1.02. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 63.64%.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Raymond James lowered their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.38.

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.