Tejon Ranch (NYSE:TRC) Announces Earnings Results

by · The Cerbat Gem

Tejon Ranch (NYSE:TRC – Get Free Report) announced its quarterly earnings data on Thursday. The real estate development and agribusiness company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05, Zacks reports. The firm had revenue of $11.97 million for the quarter, compared to analyst estimates of $9.53 million. Tejon Ranch had a negative return on equity of 0.11% and a negative net margin of 1.17%.

Tejon Ranch Trading Down 1.4%

Shares of NYSE:TRC traded down $0.23 during midday trading on Thursday, hitting $15.74. The company had a trading volume of 87,686 shares, compared to its average volume of 111,594. Tejon Ranch has a 12 month low of $14.70 and a 12 month high of $19.39. The company has a current ratio of 2.24, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The stock has a market cap of $423.31 million, a price-to-earnings ratio of -1,574.00 and a beta of 0.63. The firm has a fifty day simple moving average of $16.15 and a 200 day simple moving average of $16.86.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Tejon Ranch in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Get Our Latest Research Report on TRC

Institutional Trading of Tejon Ranch

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in Tejon Ranch by 59.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,200 shares of the real estate development and agribusiness company’s stock worth $37,000 after buying an additional 823 shares during the period. Bank of America Corp DE raised its stake in Tejon Ranch by 13.0% during the 2nd quarter. Bank of America Corp DE now owns 18,425 shares of the real estate development and agribusiness company’s stock worth $312,000 after buying an additional 2,116 shares during the period. Raymond James Financial Inc. acquired a new stake in Tejon Ranch during the 2nd quarter worth $122,000. Quantinno Capital Management LP raised its stake in Tejon Ranch by 99.1% during the 2nd quarter. Quantinno Capital Management LP now owns 56,013 shares of the real estate development and agribusiness company’s stock worth $950,000 after buying an additional 27,881 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Tejon Ranch during the 2nd quarter worth $770,000. Institutional investors and hedge funds own 60.63% of the company’s stock.

Tejon Ranch Company Profile

(Get Free Report)

Tejon Ranch Co, together with its subsidiaries, operates as a diversified real estate development and agribusiness company. It operates through five segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Development, Mineral Resources, Farming, and Ranch Operations. The Commercial/Industrial Real Estate Development segment engages in the planning and permitting of land for development; construction of infrastructure projects, pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.

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