Teck Resources Ltd (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Wednesday, July 25th, Zacks reports. Investors of record on Friday, September 14th will be paid a dividend of 0.038 per share by the basic materials company on Friday, September 28th. This represents a $0.15 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, September 13th.
Teck Resources has a dividend payout ratio of 5.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Teck Resources to earn $2.92 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 6.8%.
NYSE:TECK traded down $0.21 on Friday, hitting $21.92. The company had a trading volume of 1,776,883 shares, compared to its average volume of 1,870,592. The company has a market cap of $12.54 billion, a price-to-earnings ratio of 6.39, a PEG ratio of 0.60 and a beta of 1.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.38 and a quick ratio of 1.51. Teck Resources has a 52 week low of $20.06 and a 52 week high of $30.80.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.28. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.97 billion. Teck Resources had a net margin of 22.12% and a return on equity of 13.56%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 EPS. analysts expect that Teck Resources will post 3.53 EPS for the current year.
TECK has been the subject of several analyst reports. ValuEngine downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. MKM Partners set a $35.00 price target on shares of Teck Resources and gave the company a “buy” rating in a research note on Wednesday, June 6th. Morgan Stanley raised their price target on shares of Teck Resources from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, June 29th. Finally, Zacks Investment Research downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Thursday, June 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Teck Resources presently has an average rating of “Hold” and a consensus target price of $30.94.
About Teck Resources
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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