Brokers Issue Forecasts for Teck Resources FY2028 Earnings

Key Points

• Scotiabank has reduced its FY2028 earnings estimate for Teck Resources to $1.35 per share from $1.37, while maintaining an "Outperform" rating.
• Teck Resources reported $0.27 earnings per share for the last quarter, exceeding analysts' expectations of $0.20, despite revenues falling short of projections at $1.49 billion.
• The company has recently increased its dividend to $0.0918 per share with a 0.8% dividend yield and a high payout ratio of 94.74%.

Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK - Scotiabank reduced their FY2028 earnings estimates for shares of Teck Resources in a research note issued on Tuesday, October 14th. Scotiabank analyst O. Wowkodaw now anticipates that the basic materials company will earn $1.35 per share for the year, down from their prior forecast of $1.37. Scotiabank currently has a "Outperform" rating on the stock. The consensus estimate for Teck Resources' current full-year earnings is $1.53 per share.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The business had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The company's revenue was up 12.3% on a year-over-year basis.

TECK has been the topic of several other research reports. Veritas cut Teck Resources from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Weiss Ratings reissued a "sell (d+)" rating on shares of Teck Resources in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded Teck Resources from a "hold" rating to a "buy" rating and set a $42.00 target price for the company in a report on Monday, September 8th. CIBC lowered Teck Resources from a "sector outperform" rating to a "neutral" rating in a report on Friday, July 25th. Finally, UBS Group upgraded Teck Resources from a "neutral" rating to a "buy" rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $54.00.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $43.72 on Thursday. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $37.72 and its two-hundred day moving average price is $36.72. Teck Resources has a 52 week low of $28.32 and a 52 week high of $51.48. The stock has a market cap of $21.00 billion, a PE ratio of 115.06, a price-to-earnings-growth ratio of 0.61 and a beta of 0.92.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its holdings in Teck Resources by 69.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company's stock worth $32,000 after purchasing an additional 350 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Teck Resources in the 1st quarter valued at about $33,000. Banque Cantonale Vaudoise bought a new stake in shares of Teck Resources in the 1st quarter valued at about $36,000. Golden State Wealth Management LLC boosted its position in shares of Teck Resources by 7,560.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 1,134 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Teck Resources during the 2nd quarter valued at about $49,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a dividend of $0.0918 per share. The ex-dividend date was Monday, September 15th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources's dividend payout ratio is 94.74%.

About Teck Resources

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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