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

Teck Resources (NYSE:TECK) (TSE:TECK) posted its earnings results on Thursday. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07, Zacks reports. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%.

Teck Resources Stock Performance

NYSE TECK traded down $1.34 during trading hours on Friday, hitting $42.02. 617,347 shares of the company’s stock traded hands, compared to its average volume of 2,810,024. Teck Resources has a 52 week low of $37.30 and a 52 week high of $55.13. The firm has a market capitalization of $20.96 billion, a P/E ratio of 63.70 and a beta of 1.02. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $42.01 and its two-hundred day moving average price is $45.74.

Teck Resources Cuts Dividend

The firm also recently disclosed 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 0.84%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. 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 report on Friday, October 25th. Raymond James reduced their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.