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

Teck Resources (NYSE:TECK) (TSE:TECK) released 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 during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%.

Teck Resources Stock Performance

Shares of NYSE:TECK traded down $1.34 during trading on Friday, hitting $42.02. The stock had a trading volume of 617,347 shares, compared to its average volume of 2,810,024. Teck Resources has a 12-month low of $37.30 and a 12-month high of $55.13. The stock has a market capitalization of $20.96 billion, a price-to-earnings ratio of 63.70 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. The stock has a 50-day simple moving average of $42.01 and a two-hundred day simple moving average of $45.74.

Teck Resources Cuts Dividend

The company 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 payout ratio is 53.03%.

Wall Street Analyst Weigh In

TECK has been the topic of several research analyst reports. Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Friday, October 25th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.