Seaport Global Securities Comments on Teck Resources Ltd’s FY2018 Earnings (TECK)

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Investment analysts at Seaport Global Securities lifted their FY2018 earnings per share estimates for shares of Teck Resources in a research report issued on Monday, October 15th. Seaport Global Securities analyst M. Levin now expects that the basic materials company will earn $3.37 per share for the year, up from their previous estimate of $3.23. Seaport Global Securities has a “Buy” rating and a $30.00 price target on the stock. Seaport Global Securities also issued estimates for Teck Resources’ FY2019 earnings at $2.73 EPS and FY2020 earnings at $2.02 EPS.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, July 26th. The basic materials company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.28. Teck Resources had a return on equity of 13.56% and a net margin of 22.12%. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the business posted $1.00 EPS. The company’s revenue was up 6.5% on a year-over-year basis.

Several other research analysts also recently weighed in on the company. Barclays assumed coverage on Teck Resources in a research note on Wednesday, October 10th. They issued an “overweight” rating on the stock. Raymond James restated a “buy” rating on shares of Teck Resources in a research note on Sunday, October 7th. Goldman Sachs Group restated a “hold” rating on shares of Teck Resources in a research note on Sunday, October 7th. ValuEngine downgraded Teck Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Finally, Deutsche Bank set a $34.00 price target on Teck Resources and gave the company a “buy” rating in a research note on Saturday, September 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $30.94.

Shares of TECK stock opened at $23.47 on Wednesday. Teck Resources has a twelve month low of $20.06 and a twelve month high of $30.80. The company has a market capitalization of $13.66 billion, a price-to-earnings ratio of 6.88, a P/E/G ratio of 0.66 and a beta of 1.43. The company has a current ratio of 2.38, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

Several institutional investors have recently bought and sold shares of TECK. Janus Henderson Group PLC raised its holdings in Teck Resources by 452.2% during the second quarter. Janus Henderson Group PLC now owns 7,561,492 shares of the basic materials company’s stock worth $192,508,000 after purchasing an additional 6,192,051 shares during the last quarter. Covalis Capital LLP raised its holdings in Teck Resources by 504.7% during the second quarter. Covalis Capital LLP now owns 1,679,203 shares of the basic materials company’s stock worth $42,736,000 after purchasing an additional 1,401,503 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Teck Resources during the second quarter worth $35,243,000. Toronto Dominion Bank raised its holdings in Teck Resources by 83.4% during the second quarter. Toronto Dominion Bank now owns 2,410,538 shares of the basic materials company’s stock worth $61,803,000 after purchasing an additional 1,096,126 shares during the last quarter. Finally, CIBC World Markets Inc. raised its holdings in Teck Resources by 14.7% during the first quarter. CIBC World Markets Inc. now owns 7,193,521 shares of the basic materials company’s stock worth $185,305,000 after purchasing an additional 920,051 shares during the last quarter. Hedge funds and other institutional investors own 54.56% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were paid a $0.038 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.65%. Teck Resources’s dividend payout ratio (DPR) is presently 4.37%.

Teck Resources Company Profile

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

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